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OGE® 1st Quarter 2021 Financial Overview OG & E highlights innovative customer enhancing projects OG & E makes solid progress in obtaining approval for the timely recovery of the February weather event costs and mitigating the rate impacts to customers - OKLAHOMA CITY — OGE Energy Corp. ( NYSE : OGE ) , the parent company of Oklahoma Gas and Electric Company ( " OG & E " ) , and holder of 25.5 percent limited partner interest and 50 percent general partner interest in Enable Midstream Partners LP ( " Enable ” ) , today reported earnings of $ 0.26 per diluted share for the three months ended March 31 , 2021 compared to a loss of $ 2.46 per diluted share for the first quarter of 2020. The loss in 2020 was primarily due to a $ 590 million impairment charge , net of tax , related to Enable . • • OG & E contributed earnings of $ 0.06 per share in the first quarter , compared with earnings of $ 0.10 per share in the first quarter last year Natural Gas Midstream Operations contributed earnings of $ 0.19 per share , compared to a loss of $ 2.84 per share in the first quarter last year The holding company reported earnings of $ 0.01 per share compared to $ 0.28 per share in the first quarter of 2020. As a result of the impairment related to Enable , the holding company's 2020 results were impacted by a consolidating tax adjustment that eliminated over the course of the year . " We have made strong progress this quarter towards mitigating the impact of the February weather event . Our track record of operational excellence provides us great confidence that we will deliver within our guidance range of $ 1.76 to $ 1.86 per share at the utility . ” said OGE Energy Corp. Chairman , President and CEO Sean Trauschke . Innovative Projects Announced in 2021 In April , OG & E announced an agreement with Dobson Fiber to build approximately 350 miles of fiber to upgrade the resiliency and capacity of the utility communications network . The project will save customers more than 60 % over standard deployment costs . OG & E also announced an expansion of the Choctaw Nation / OG & E solar energy center , expanding its commitment to renewable energy driven by customer demand for its popular renewable energy offerings . First Quarter 2021 OGE Energy's net income was $ 53 million or $ 0.26 per share in the first quarter , compared to a loss of $ 492 million or $ 2.46 per share in the year - ago quarter . OG & E's net income was approximately $ 11 million or $ 0.06 per share in the first quarter , compared to $ 20 million or $ 0.10 per share in the comparable quarter last year . The primary driver for the decrease in net income was a loss from the guaranteed flat bill program during the February 2021 extreme cold weather event . Other operating results were favorable during the quarter , including outstanding cost management efforts . Natural Gas Midstream Operations contributed net income to OGE Energy Corp. of $ 38 million or $ 0.19 per share in the first quarter , compared to a loss of $ 568 million or $ 2.84 per share in the same period in 2020. The increase in net income was primarily due to the 2020 impact of the impairment of OGE Energy's investment in Enable , partially offset by a decrease in income tax benefit related to this impairment charge . The increase in earnings was also impacted by higher net income from Enable's transportation and storage business resulting from