ICC approves more than $7M rate decrease for Ameren Illinois in 2020
A $7.05 million electric rate decrease was approved for Ameren Illinois residential customers by the Illinois Commerce Commission (ICC) this week, promising monthly reductions for average electric bills next year.
The average Ameren customer will see a monthly rate decrease of around $1.13. The drop will be coupled with an additional 5 percent reduction in electricity cost for Ameren Illinois customers. Ameren Illinois says this should lead to monthly bills around 20 percent below the national average.
“Today’s ICC order provides the resources needed to continue building a cleaner, greener, more resilient grid while keeping customer rates in check,” Richard Mark, chairman and president of Ameren Illinois, said. “Better energy reliability is a critical factor that can drive economic development and job creation in communities across our territory.”
Ameren Illinois credits a mix of cost management, operational efficiencies, and lower borrowing costs for capital projects as the source of its lower revenue requirement for the coming year. Delivery rates are determined based on utilities’ — like Ameren Illinois — current-year costs and actual costs compared to the previous year’s forecast.
