Electric rates for customers across the State of Oklahoma are set to rise today, though not as much as originally expected.

Oklahoma electric rates will increase by on percent beginning today after State Attorney General Gentner Drummond's Office reached a settlement agreement with the Public Service Company of Oklahoma. The settlement reduced the P-S-O's original request for a 15 percent increase, a rise that would have seen the average customer's utility bill increase by around $15 per month. Instead, the settlement that was announced on Tuesday will see the average residential customer's monthly bill increase by about $2.45.

The settlement agreement will still need to be approved by the Oklahoma Corporation Commission.