Is the heat keeping everyone home or is it the air conditioning?
Given, everyone is exhausted from the unrelenting heat and the scheduling chaos that comes as summer starts to wind down. Factoring in the extra costs associated with back-to-school season even in the most temperate of years makes it worse, but this year is especially taxing thanks to OG&E.
Walk into any of your favorite spots since the July electric bills rolled in and you can expect to immediately find a seat. Bet you can find at least one person there grumbling about how their electric bill is higher than it’s ever been, with many — most, even — complaining that it’s twice or more than the highest one they’ve ever paid.
But, as your family is wrung dry of every spare cent this season, you can rest easy knowing that OG&E’s shareholders are seeing returns on their investments that are approaching their pre-pandemic heights.
The top four owners of the “public utility” own more than $2 billion in stock, according to OGE Energy Corp’s profile on CNNBusiness.
And not one of those who own more than a percentage point of OG&E — BlackRock Fund Advisors, The Vanguard Group, State Street Global Advisors and Fidelity Management & Research — is based in Oklahoma.
In fact, individual shareholders represent 1.4 percent of ownership.
So the next time you turn up your air conditioner another couple of degrees in the hopes of saving another couple of bucks, know that mutual funds and other investors thank you for the $100 million in net income you provided last quarter.