OGE · 10-Q · 2026Q1 · Full report
Fuel and Purchased Power
OGE ENERGY CORP. · 2026-04-29 · Importance 34 · Surprise 30
Fuel, purchased power and direct transmission expense increased $12.7 million in Q1 2026 versus Q1 2025, driven primarily by a $26.4 million increase in fuel expense related to the generating assets used during the period. Offsetting this was a $22.5 million decrease in market purchases from SPP due to lower market prices, and a $5.6 million increase in transmission expense. The weighted-average cost of energy per kWh rose, with total fuel and purchased power reported at 4.012 cents versus 3.795 cents in the prior year quarter. These movements materially affected recoverable fuel balances and cash collections from customers.
Key facts
- Fuel expense increased $26.4 million year-over-year for the three months ended March 31, 2026.
- Purchases from SPP decreased $22.5 million year-over-year for the three months ended March 31, 2026.
- Wind purchased power costs increased $2.4 million year-over-year for the three months ended March 31, 2026.
- Transmission expense increased $5.6 million year-over-year for the three months ended March 31, 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -3.5% | Fuel expense increased $26.4 million year-over-year for the three months ended March 31, 2026. |
| operating_income | positive | realized | +3.0% | Purchases from SPP decreased $22.5 million year-over-year for the three months ended March 31, 2026. |
| operating_income | negative | realized | -0.7% | Transmission expense increased $5.6 million year-over-year for the three months ended March 31, 2026. |
| operating_income | negative | realized | -0.3% | Wind purchased power costs increased $2.4 million year-over-year for the three months ended March 31, 2026. |