<SEC-DOCUMENT>0001021635-22-000140.txt : 20221128
<SEC-HEADER>0001021635-22-000140.hdr.sgml : 20221128
<ACCEPTANCE-DATETIME>20221019121515
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001021635-22-000140
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20221019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OGE ENERGY CORP.
		CENTRAL INDEX KEY:			0001021635
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				731481638
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		321 N HARVEY
		STREET 2:		P.O. BOX 321
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101-0321
		BUSINESS PHONE:		4055533000

	MAIL ADDRESS:	
		STREET 1:		321 N HARVEY
		STREET 2:		P.O. BOX 321
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101-0321

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OGE ENERGY CORP
		DATE OF NAME CHANGE:	19960827
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<title>Document</title></head><body><div id="i631727dc32c04127b2532a46761ebb7d_1"></div><div style="min-height:42.48pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.137%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.281%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.282%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1.02pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">OGE Energy Corp.</font></td><td colspan="3" style="padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">PO Box 321</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Oklahoma City, OK 73101-0321</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">405-553-3000</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 1.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">www.oge.com</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:right"><font><br></font></div><div style="margin-bottom:5pt;text-align:right"><img alt="image_0a.jpg" src="image_0a.jpg" style="height:48px;margin-bottom:5pt;vertical-align:text-bottom;width:172px"></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.137%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.281%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.282%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">October 19, 2022</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Via EDGAR</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">United States Securities and Exchange Commission </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Division of Corporation Finance</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">100 F Street, N.E. </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Washington, D.C. 20549</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Attention&#58;&#160;&#160;&#160;&#160;Michael Purcell</font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Office of Energy &#38; Transportation</font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Karina Dorin</font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Office of Energy &#38; Transportation</font></div><div style="padding-left:36pt;text-indent:36pt"><font><br></font></div><div style="padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:133%">RE&#58;&#160;&#160;&#160;&#160;OGE Energy Corp.</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Form 10-K for Fiscal Year Ended December 31, 2021</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Response dated September 27, 2022</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:133%">File No. 001-12579</font></div><div style="padding-left:72pt;text-indent:-36pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">Ladies and Gentlemen&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">Reference is made to the letter, dated October 7, 2022 (the &#8220;Staff Comment Letter&#8221;), in which you transmitted the comments of the Staff of the Division of Corporation Finance of the Securities and Exchange Commission (the &#8220;SEC&#8221;) with respect to OGE Energy Corp.&#8217;s Form 10-K for the year ended December 31, 2021 (the &#8220;2021 Form 10-K&#8221;) and the response of OGE Energy Corp. dated September 27, 2022 to the Staff&#8217;s September 14, 2022 comment letter. This letter is submitted on behalf of OGE Energy Corp. (&#8220;OGE Energy&#8221; or the &#8220;Company&#8221;) in response to the Staff Comment Letter. To assist you in your review, we have repeated the full text of the Staff&#8217;s comments in bold face type in this letter, and our responses follow immediately.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:132%;text-decoration:underline">Response dated September 27, 2022</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:132%;text-decoration:underline">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations, page 27</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:132%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:132%;padding-left:28.5pt">We note the disclosures cited in your response to prior comment 3. Please tell us how you considered providing disclosure that more directly addresses the potential effect that decreased demand for services that produce significant greenhouse gas emissions or are related to carbon-based energy sources may have on your business, financial condition or results of operation.</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%;text-decoration:underline">Response #1&#58;</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">As noted in our response to prior comment 3, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">in 2021, we did not encounter any indirect consequences of climate-related regulation or business trends that we consider material to our results of operations, financial position or cash flows. The Company believes our 2021 Form 10-K addresses material risks potentially related to future climate-related business trends, which includes decreased demand for services that produce significant greenhouse gas emissions or are related to carbon-based energy sources. Within our 2021 Form 10-K risk factor titled, &#8220;Changes in technology, regulatory policies and customer </font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.48pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">electricity consumption may cause our assets to be less competitive and impact our results of operations,&#8221; we state that r</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">eductions in customer electricity consumption, thereby reducing utility electric sales, could result from increased deployment of renewable energy technologies as well as increased efficiency of household appliances, among other general efficiency gains in technology. While the Company considered for disclosure other potential effects as described in the Staff&#8217;s comment above, the Company has not experienced any material impacts on our business, financial condition or results of operation beyond those risks or business trends deemed material for disclosure in our 2021 Form 10-K.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:132%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:132%;padding-left:28.5pt">We note your response to prior comment 4 and reissue in part. Please quantify insurance costs over the periods covered by your 10-K.</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%;text-decoration:underline">Response #2&#58;</font></div><div><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">As noted in our response to prior comment 4, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">the Company is unaware of any material weather-related impacts on the cost or availability of insurance during the last three years, nor are we aware of any material impacts that are expected in the near future. None of our current insurance providers have declined to provide coverage to us as a result of weather-related impacts. </font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:132%">The cost of the Company&#8217;s insurance premiums is directly tied to the cost of insurance in the overall insurance market and the overall risk profile of the Company. In each of the three years presented in our 2021 Form 10-K, insurance costs the Company incurred represented approximately 1% or less of the Company&#8217;s average operating expenses of approximately $960 million for such year and, as explained in our response to prior comment 4, were not material.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div id="i631727dc32c04127b2532a46761ebb7d_4"></div><div style="padding-left:36pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">If you have any questions regarding this response, please contact the undersigned at 405-553-3412.</font></div><div style="padding-left:216pt;text-align:justify"><font><br></font></div><div style="padding-left:288pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Very truly yours,</font></div><div style="margin-bottom:5pt;padding-left:216pt"><font><br></font></div><div style="padding-left:288pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:42.720%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47; Sarah R. Stafford</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sarah R. Stafford</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Controller and Chief Accounting Officer</font></td></tr></table></div><div><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
