Oklahoma § 74-9052 - Definitions

§ 74-9052. Definitions

As used in this act:

1. "Authority" shall mean the Oklahoma Development Finance

Authority pursuant to Section 5062.1 et seq. of Title 74 of the

Oklahoma Statutes;

Oklahoma Statutes - Title 74. State Government

2. "Extraordinary costs" shall mean costs incurred by an

unregulated utility related to the extreme weather that occurred

beginning February 7, 2021, and ending February 21, 2021, including

but not limited to fuel-related storage and associated costs,

emergency compressed or liquified natural gas supplies, contracts

for services providing additional pressurization on lines and

transportation pipeline penalties. Extraordinary costs shall not

include extreme purchase costs, as defined in this section;

3. "Extreme purchase costs" shall mean expenses incurred for

the purchase of fuel, purchased power, natural gas commodity or any

combination thereof, whether at spot pricing, index pricing or

otherwise with delivery from February 7, 2021, through February 21,

2021;

4. "Qualified costs" shall mean the extreme purchase costs and

extraordinary costs, as calculated and set out by the Oklahoma

Development Finance Authority following a review of a loan

application of an unregulated utility submitted pursuant to this

act, less any insurance proceeds, governmental grants or other

funding sources;

5. "Unregulated utility" shall mean any utility, as defined in

this act, doing business in this state, or any public trust

designated for the benefit of a utility or municipality, which is

not a regulated utility subject to the regulatory jurisdiction of

the Oklahoma Corporation Commission with respect to its rates,

charges and terms and conditions of service;

6. "Utility" shall mean any person or entity doing business in

this state that furnishes natural gas or electric current to its

customers or members located at an address in this state and within

the service area of the utility;

7. "Utility revenue bond" shall mean any bond, revenue bond,

notes or other evidence of obligations of the Oklahoma Development

Finance Authority issued by the Authority pursuant to this act

including, but not limited to, bond anticipation notes and refunding

bonds, for the purpose set forth in this act; and

8. "Unregulated Utility Consumer Protection Fund" shall mean

the fund created pursuant to Section 7 of this act.

Added by Laws 2021, c. 203, § 3, emerg. eff. April 23, 2021.