OKLAHOMA CITY -- OGE Energy Corp. announced a second-quarter profit Wednesday of $70.5 million, boosted by improved numbers for Oklahoma Gas and Electric Co.

The utility's reported profit was $56 million, up from $31 million for the same quarter last year.

Chairman Pete Delaney credited the increase to several factors, including warmer weather and regulator-approved recovery for the cost of buying the Redbud power plant near Luther.

Delaney said a $48 million electricity rate increase approved recently by the Oklahoma Corporation Commission will allow OG&E to continue investing in transmission and renewable energy projects.

Click here to read the complete article at NewsOK.com.

jmarks@opubco.com

(c) 2009 Tulsa World. Provided by ProQuest LLC. All rights Reserved.

A service of YellowBrix, Inc.