Ameren Missouri will reduce electric rates by 6 percent
A bill passed by the Missouri General Assembly will result in electric rates for Ameren Missouri customers being reduced by 6 percent.
The $167 million rate cut stems from federal Tax Cuts and Jobs Act passed by the U.S. Congress last December. Missouri lawmakers and regulators took legislative actions that allowed Ameren Missouri to pass these savings on to customers.
“Under Ameren Missouri’s Smart Energy Plan, our customers will experience lower costs right away and greater benefits in the future,” Michael Moehn, president of Ameren Missouri, a subsidiary of Ameren Corporation, said. “The plan will meet our customers’ desire for more affordable and stable rates, along with a smarter energy grid that is even more reliable, flexible and secure, all while incorporating new sources of clean energy. On behalf of our customers, we applaud the efforts of Missouri legislators and regulators to recognize the importance of passing and authorizing Senate Bill 564, which expedited these rate cuts to millions of customers.”
Specifically, Ameren Missouri’s new Smart Energy Plan will provide a 6 percent rate cut or approximately $72 per year savings for residential customers. This new rate goes into effect Aug. 1, 2018. Also, the new lower rate will be frozen in place until April 2020. Also, the company provided rate caps to control the size of any future increase.
The Smart Energy Plan also includes a grid modernization initiative. The five-year plan will create jobs to upgrade the energy delivery system with smart technologies. Further, Ameren Missouri will offer up to $28 million in solar rebates for customers.
Ameren Missouri’s provides energy for 1.2 million electric and 130,000 natural gas customers in central and eastern Missouri.
