OGE Energy subsidiary OG&E details customer base, write-offs for URI cost recovery bond

OGE ENERGY CORP.

ODFA offering ratepayer-backed bonds to allow OG&E to recover Winter Storm Uri costs; bonds not OG&E obligations.
Oklahoma Supreme Court approved the bonds May 3, 2022; OCC financial order Dec 2021.
OG&E served 810,714 Oklahoma customers in 2021; total energy usage 25.16M MWh; billed revenue $1.87B.
Net write-offs averaged ~0.16% of revenue over five years, indicating strong credit quality.
Delinquency rate at Dec 2021: 14.3% of billed revenue, up from 9.0% in 2017 but stable vs 2020.

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