The company, Oklahoma Corporation Commission staff, office of the state Attorney General, Oklahoma Industrial Energy Consumers and OG&E Shareholders Association all agreed to ask the commission to approve settlement terms which authorize OG&E to begin recovering the costs of the new wind farm when it goes into production and assigns to OG&E's customers the proceeds from of the sale of renewable energy credits to the University of Oklahoma.

OU Spirit, a 101MW power generating facility under construction near Woodward, Oklahoma, is expected to be complete in December 2009. The University of Oklahoma has said that it expects the new wind farm to help the university's Norman campus achieve a goal to have all of its purchased energy be from renewable sources by 2013.

The agreement asks for a corporation commission order establishing a temporary addition, or rider, to OG&E customers' monthly electric bills, that will enable the company to begin recovering construct costs as each of the wind farm's 44 new turbines comes online.

When completed, the facility is expected to cost approximately $270 million. OU Spirit will be added to OG&E's regulated rate base as part of a general rate case in 2011, which would end the temporary rider. A commission hearing on the OU Spirit application is scheduled before an Administrative Law Judge on October 28, 2009.

The agreement calls for OG&E to pass through to Oklahoma retail customers 100% of the renewable energy credit revenues generated by the sale of the renewable energy certificates to the university. The net impact on the average residential customer's 2010 power bill should be approximately $0.90 per month, decreasing to $0.80 per month in 2011.

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