Oklahoma governor signs bills to limit storm utility costs

OKLAHOMA CITY (AP) – Oklahoma Gov. Kevin Stitt has signed a pair of bills to mitigate the skyrocketing storm-related utility costs from a February winter storm.

The bills were among 24 measures Stitt signed into law Friday. He also vetoed two measures.

The utility bills authorize the issuance of ratepayer-backed bonds to help offset an estimated $4.5 billion in increased storm-related energy costs.

The securitization is designed to lower the monthly costs for ratepayers over an extended period.