More Stable Energy Rates
SB 564 includes a provision that would cut electric rates by 4 to 5% within weeks and overall creates a hard 2.85% annual rate cap to give Missouri ratepayers stable and predictable rates, helping to save money for hard working Missouri families and small businesses. Missouri needs this rate cut and cap legislation to give Missourians smarter, more secure and more stable energy while protecting consumers from rate spikes. According to federal data from the Energy Information Administration, rates in Missouri have increased four times faster than the national average. This plan will stop that trend, bending the cost curve making energy costs more stable and predictable. This legislation creates an opportunity for consumers and small businesses to receive real rate relief.