OGE · 10-Q · 2026Q1 · Full report

Short-term Debt and Liquidity

OGE ENERGY CORP. · 2026-04-29 · Importance 89 · Surprise 82

Short-term debt increased $200.4 million, or 68.6%, compared to December 31, 2025, reflecting increased borrowings for general operating needs and higher average short-term debt of $429.6 million during the quarter. OGE Energy reported net available liquidity of $667.2 million under revolving credit agreements, commercial paper capacity and letters of credit, with cash and cash equivalents of $0.2 million. Management continues to rely on commercial paper and revolving facilities to meet temporary working capital needs and bridge capital spending until permanent financing is arranged. The change materially tightened the company’s short-term funding profile during Q1 2026.

Key facts

• OG&E regulatory approval to incur up to $1.0 billion in short-term borrowings at any one time for a two-year period beginning January 1, 2025 and ending December 31, 2026.