Ameren Missouri Reduces Electric Rates, Again
Electric rates for Ameren Missouri customers were decreased on April 1, marking the second consecutive electric rate reduction since 2018. This decrease applies to all residential, commercial, and industrial customers' electric rates.
In late March, the Missouri Public Service Commission (PSC) approved a $32 million decrease in the company's annual revenue requirement, which translates to a savings of approximately $15 per year for an average residential customer. The decrease marks the second consecutive decrease since 2018, when customers received a 6 percent rate cut as part of the company's Smart Energy Plan.
"We recognize the importance of keeping customer rates affordable as we implement our Smart Energy Plan to upgrade infrastructure, improve reliability and add clean energy," said Marty Lyons, president of Ameren Missouri. "We're building a brighter energy future for the communities we serve with new solar and wind generation, economic development rate incentives for new or expanding businesses, and innovative new services for millions of customers."
Customer benefits of the rate review agreement include the following:
Rate decrease of approximately $1.25 per month or approximately $15 per year for the average residential customer.
Energy management options to match customers' lifestyles.
Ameren Missouri donation of $7.5 million to energy assistance and weatherization programs for low-income customers starting in April 2020.
Development of an online rate comparison tool for customers.
Rates have declined while Ameren Missouri implements the largest infrastructure upgrade plan in the company's 100-year history. Thousands of electric projects over the next five years, expected to total $7.6 billion, are designed to create a cleaner, stronger energy grid that will serve customers' changing energy needs for decades to come. While keeping rates affordable, the plan will strengthen the grid against storms and high winds, reducing the length and likelihood of outages, and increase capacity for growing communities.
For additional information on Ameren Missouri's Smart Energy Plan, visit www.AmerenMissouri.com/SmartEnergyPlan.