ONEOK Unit Files For A Rate HikeZacks Investmentupdated May 22, 2012TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.ONEOK, Inc.’s (OKE) subsidiary, Kansas Gas Service has filed for a rate increase with the Kansas Corporation Commission (“KCC”) to recover the investments made by the company to develop its natural gas pipeline infrastructure and facilities. The rate hike, if approved by the KCC, is expected to increase the company’s revenue by $32.7 million, which includes a base rate hike of $50.7 million and $18 million decrease in amounts currently recovered through surcharges. The company’s proposed rate hike, if implemented, will result in a monthly increase of $5.68 or 9.1% for a typical residential customer. An average commercial customer, with annual natural gas consumption of 288 thousand cubic feet (“Mcf”), will not experience any bill increase. Last time, the company hiked its rates in January 2007. Since the last rate increase, the ONEOK unit has invested $250 million to upgrade its natural gas distribution pipelines, and replaced and relocated natural gas meters in several cities in Kansas including Hope, Kowa, Mankato, Osawatomie, Russell, Stafford and St. John. This had enabled the company to cover a total area of 18,000 miles in Kansas. Utility providers invest substantial amounts for implementation of modern technologies and infrastructural developments, intended to provide uninterrupted and regular gas supply to its consumers in the long run. As of December 31, 2011, the company had a 632,000 strong customer-base with natural gas distribution market share of 67% in the Kansas area. ONEOK Inc. currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. Based in Tulsa, Oklahoma, ONEOK Inc. is a diversified energy company, operating as a natural gas distributor primarily in the United States. The company competes with OGE Energy Corporation (OGE). OGE ENERGY CORP (OGE): Free Stock Analysis Report To read this article on Zacks.com click here. Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.