On Tuesday (August 13) Oklahoma Governor Mary Fallin announced that she is suspending a taskforce designed to study the operations of the Grand River Dam Authority. Fallin said that while she still supports the mission of the taskforce, its work might unintentionally and negatively affect the GRDA’s future bond ratings.
GRDA CEO Dan Sullivan’s statement on Governor Fallin’s decision to suspend the taskforce:
“GRDA is pleased with Governor Fallin’s decision to suspend the taskforce at this important time. As we work on a plan for future generation and begin a process to issue bonds, we do believe a performance review, conducted simultaneously with that bond process, could have a negative impact on our ratings which could lead to higher costs for our ratepayers.
We appreciate the leadership of Governor Fallin in having high expectations of Oklahoma agencies. GRDA is in a continuous improvement process and we look forward to working with the Governor in improving operations. As GRDA moves forward with its generation plan, we are confident we can do so in a way that preserves GRDA’s role as a low-cost, reliable electricity supplier, economic development engine and good steward of the natural resources under its control.”
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