OGE Energy Corp (NYSE: OGE) is a regulated electric utility holding company that generates, transmits, distributes, and sells electric energy in Oklahoma and western Arkansas. Revenue comes from tariff-based electricity sales to residential, commercial, industrial, and public authority customers, with rates set by the Oklahoma Corporation Commission, the Arkansas Public Service Commission, and the Federal Energy Regulatory Commission. OG&E, the wholly-owned operating subsidiary incorporated in 1902, is the largest electric utility in Oklahoma, serving a franchised territory that includes Fort Smith, Arkansas and surrounding communities. Rate structures include a cost-of-service component with an authorized return on capital plus a fuel adjustment clause that passes actual fuel and purchased power costs to customers. OGE Energy exited its midstream business in 2022 after selling all Energy Transfer equity securities it held. The company's principal offices are in Oklahoma City, Oklahoma.

Revenue model

Regulated tariff-based electricity sales to end customers, with rates approved by state and federal regulators. Rates include a cost-of-service component with an authorized return on capital plus a fuel adjustment clause that passes through actual fuel and purchased power costs. Transmission revenues are also included in operating revenues.

Products and services

Electric energy generation, transmission, distribution, and retail sales. Rate options include SmartHours time-of-use and variable peak pricing programs, day-ahead price and flex price options, Load Reduction voluntary curtailment programs for commercial and industrial customers, Direct Load Control for large customers over 50 MW, and Average Monthly Billing.

Customers and end markets

Residential, commercial, industrial, public authority, and street lighting customers within a franchised service territory in Oklahoma and western Arkansas. Large commercial and industrial customers above 50 MW are eligible for demand-response and curtailment programs.

Value-chain role

Vertically integrated regulated electric utility: generation, transmission, distribution, and retail sale of electricity to end customers within a franchised service territory.

Geographic exposure

Oklahoma (primary) and western Arkansas, including Fort Smith, Arkansas and surrounding communities. Regulated by the Oklahoma Corporation Commission, the Arkansas Public Service Commission, and the Federal Energy Regulatory Commission.

Competitors

Suppliers of other forms of energy, Distributed electricity generation providers, Fuel cell and photovoltaic solar technology providers

Source: SEC 10-K, filed 2026-02-18

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