Franko capped off a four-goal third period for the Ice (22-20-4) at 11:06 on the power play.
Sam Reinhart also scored twice for Kootenay, which trailed 3-1 after 40 minutes, and Tim Bozon had the other.
Mitchell Moroz had two goals and an assist for the Oil Kings (29-13-1), who had their six-game win streak halted, and Brandon Baddock and Edgars Kulda each scored once.
Mackenzie Skapski made 24 saves for the Ice as Tristan Jarry stopped 24-of-29 shots for Edmonton.
Both clubs went 1 for 3 on the power play.
ROCKETS 4 HITMEN 2
CALGARY — Jordon Cooke only had to make 17 saves as Kelowna doubled up the Hitmen for its third win in a row.
Justin Kirkland, Carter Rigby, Madison Bowey and Ryan Olsen scored for the Rockets (36-5-2) while Cooke improved his season record to 26-2-2.
Pavel Padakin scored for Calgary (29-10-5) and assisted on Joe Mahon's goal.
Chris Driedger turned away 25-of-28 shots for the Hitmen, who have dropped back-to-back contests.
WINTERHAWKS 5 GIANTS 4 (SO)
VANCOUVER — Derrick Pouliot and Taylor Leier scored in the shootout to lift Portland over the Giants.
Paul Bittner, Chase De Leo, Adam De Champlain and Alex Schoenborn scored in regulation for the Winterhawks (28-12-5), who are 3-0-1 in their last four outings.
Dalton Thrower and Brett Kulak had a goal and an assist apiece for Vancouver (22-15-8) while Dalton Sward and Dominik Volek each scored once.
Corbin Boes made 24 saves for Portland as Payton Lee and Jared Rathjen combined to stop 31-of-36 shots for the Giants.