Ameren Missouri has announced that customers are expected to see a second decrease in electric rates since last summer, the Associated Press reported.
Ameren Missouri filed a request with the Missouri Public Service Commission (PSC) to decrease electric rates for all customers. If approved, the typical residential customer would see a slight rate decrease on monthly bills.
Ameren Missouri requested the approximately $1 million decrease in line with its focus to keep rates stable and predictable as part of the company’s Smart Energy Plan.
That plan, announced in August 2018, was enabled by progressive energy legislation enacted in 2018 following widespread support from the Missouri General Assembly.
The rate review request comes as Ameren Missouri is embarking on the largest infrastructure upgrade plan in the company’s 100-year history. The plan includes a $5.3 billion investment in more than 2,000 electric projects over the next five years and is designed to improve the reliability of Missouri’s aging energy grid.
The projects will create a smarter, more secure and storm-resilient system to reduce the length and likelihood of outages. The plan also includes an additional $1 billion investment in wind energy.
“We are delivering on the promises in our Smart Energy Plan as we remain focused on improving reliability by investing in our system while keeping rates stable and predictable,” said Michael Moehn, chairman and president of Ameren Missouri.
“These investments are providing real value for our customers, creating an energy grid that is more reliable and more resilient to severe weather,” he said. “These upgrades also allow for the integration of more solar and wind energy as we transition to cleaner energy.”
The rate decrease filing is one step in the 11-month regulatory process to adjust rates. Customers could see rate adjustments in May 2020.
This proposed rate reduction would follow a 6% decrease that customers received in August 2018. Overall, residential electric rates for Ameren Missouri customers remain 21% lower than the national average.
Other proposed features of the rate review request include:
New rate options, including a “Smart Savers” rate: Customers can save if they use energy during non-peak times.A new “EV Savers” rate: Electric vehicle owners can save by charging their vehicles overnight. Customer incentives for switching to paperless billing.
“We continue to offer new products and services for our customers, such as a recently launched mobile-friendly website, new proposed specialized rate options and paperless billing incentives,” said Tara Oglesby, vice president, customer experience, Ameren Missouri. “These new offerings, combined with the Smart Energy Plan and the largest energy efficiency plan in our company’s history, provide our customers with more ways to manage and reduce their energy usage for many years.”