Utilities

The board also approved a rollover of bond anticipation notes because it doesn't have access to the bond market.

The authority will takes steps to raise $1 billion to address expected growth of expenses.

Oklahoma joins Texas, Arkansas and Louisiana in allowing utilities to float securitized bonds to recover spending on fuel price spikes during Winter Storm Uri.

Soaring inflation could pressure the ratings of utilities if they bring rate hikes that spark customer and political opposition, S&P Global Ratings said.

Gross savings from the transaction is expected to be $378 million, or about $11 million a year, which would result in around $250 million in net present value debt service savings.

Last week saw the first co-op securitization to finance storm costs, a $908 million deal that could set a national model for utilities.

Seven of Colorado-based Tri-State Generation and Transmission Association's member utilities are considering an exit.

The $35 million of tax-exempt and taxable notes were privately placed with Nuveen.

Winter sharpens the political focus on Texas' February power failure and efforts to prevent another.

Puerto Rico Gov. Pedro Pierluisi said the power agency's new leaders must end the outages plaguing the island.