We’ve found one place that won’t lose power during the next big ice storm!
Earlier this week, the City officially announced that OG&E – the public utility that recently implemented a nearly $1-billion, 28-year rate increase as part of what Corporation Commissioner Bob Anthony called the “the worst special-interest and insider rip-off of Oklahoma ratepayers I’ve seen in the last 30 years” – has secured naming rights for the new horse show arena that’s under construction at the State Fairgrounds.
It will officially be called the OG&E Coliseum – where the brightest lights are fueled by your skyrocketing utility bills!
Here are details via KFOR:
On Wednesday, the OKC Fairgrounds new arena’s name was revealed: The OG&E Coliseum…
The $126 million facility was the first MAPS 4 project to get under construction, according to Teresa Rose, the MAPS 4 Citizens Advisory Board Chair. The project is funded through MAPS 3, MAPS 4, hotel tax revenue and other funding sources.
A spokesperson for the OKC Fairgrounds would not reveal how much OG&E paid for the naming rights, writing KFOR in an email “Sorry but the terms of the agreement are not being disclosed.”
I have to say, that's a wise move by OG&E.
In today’s day and age, when consumers and businesses have more options than ever when it comes to choosing which company will supply their electric and power needs, it makes sense for OG&E to spend top dollar for arena naming rights.
Doing so will not only keep the company front and center in people's minds when the time comes to choose an electric power provider, but also reinforce the company’s well-respected brand in the marketplace.
Wait a minute. It’s actually not like that at all!
Outside of dropping $25,000 grand on solar panels, consumers have virtually no choice in which power company they can go with. They’re basically held hostage by a legal monopoly that controls the very commission that was established to regulate it.
Seriously, I know I’m not a well-paid utility company CEO who also served as the Chairman of the local Chamber of Commerce that pushed hard for taxpayers to find and build the arena in the first place, but you’d think OG&E would be better off using that money for more important things, like offsetting rate increases, helping poor people pay their electric bills, or burying power lines to prevent outages during Oklahoma weather events.
Hehe. Just kidding.
Why do that when you operate a legalized monopoly that throws its money around to politicians and civic leaders and can get away with pretty much whatever it wants?
Plus, it looks way cooler to have your company’s logo on a building than it does to lower someone's electric bill.
Stay with The Lost Ogle. We’ll keep you advised.
