Exhibit 99.01


FOR IMMEDIATE RELEASE: December 8, 1999

CONTACT:             Paul Renfrow    (405) 553-3287
FINANCIAL CONTACT:   Jim Hatfield    (405) 553-3984

OG&E WITHDRAWS PERFORMANCE BASED INCENTIVE PLAN;
CITES OCC STAFF'S VIEW: NO NEED TO CHANGE OG&E FINANCIAL POSITION

     OKLAHOMA CITY -- OGE Energy Corp.  (NYSE:  OGE)  announced that its largest
subsidiary,  Oklahoma Gas and Electric  Company,  has  withdrawn  the  company's
Performance Based Incentive Plan.

     If adopted,  the plan,  filed with the Oklahoma  Corporation  Commission in
July,  would have saved OG&E's  Oklahoma  ratepayers  approximately  $83 million
during a 30-month transition to electric utility  deregulation.  The Performance
Based rate plan was the first of its kind to be filed in Oklahoma  and among the
first in the nation.

     OG&E  decided to withdraw  its proposal  after  several days of  settlement
discussions with the OCC staff, the Oklahoma Attorney General's office and other
intervenors failed to produce an agreement. OG&E decided not to proceed with the
case, which was set for hearing Wednesday,  Dec. 8, after it became apparent the
company was being asked to bear too many risks without  enough  opportunity  for
reward.

     "We were pleased that the Corporation  Commission  staff, in its responsive
testimony  to our plan,  indicated  there is no need for  further  review of the
company's  current  rates,"  said  James R.  Hatfield,  OGE Energy  senior  vice
president  and CFO.  "We were  disappointed,  however,  that we  couldn't  reach
agreement on this innovative new plan."