OGE Energy prevails in arbitration over claimed damages from "take or pay" contracts
Clients Oklahoma Gas & Electric Company
On behalf of Oklahoma Gas & Electric Co. ("OGE"), Jones Day prevailed in an arbitration over claimed damages from so-called "take or pay" contracts entered into during the 1960's and 1970's. Several natural gas producers alleged that OG&E owed over $35 million for failure to pay for certain amounts of gas purportedly made available to OG&E to fuel its power plants. As a result of the arbitrators' decision, OG&E had no further liability under those contracts.