Oklahos electric cooperative, owned by the oil and gas giant Chevron, is among a growing number of US states that have asked Congress to boost their share of US federal aid in a bid to help them cope with rising electricity prices.
The US-based company has raised concerns about US lawmakers’ decision to approve a $4.8 billion extension of the Keystone XL pipeline, which could cut off the state from US energy supplies.
In a letter to members of Congress, the Oklahoma City-based Electric Cooperative Association said the $50-billion fund could be used to finance new investment in cooperative electricity projects in the state.
In addition, the association said it would push for federal legislation that would allow it to borrow funds from a national fund and use the funds to help with electricity rates.
“Oklahoma is a leader in creating jobs in Oklahoma and is looking forward to helping Oklahoman families pay the bills,” the association wrote.
“We are committed to helping create jobs and provide economic opportunity for Oklahoms, so we encourage you to work with the state legislature to support Oklahoma’s efforts to create jobs.”
Oklahoma’s Electric Cooperative Society (ECOS) is the nation’s largest electric cooperative.
The group was founded in 1976 and is Oklahoma’s largest electricity producer.
It is the only state-owned electric utility.