Smart Energy Plan enhancements to benefit customers is top 2022 legislative priority
Missourians have benefited from Ameren Missouri's Smart Energy Plan (SEP) through greater resiliency of the energy grid, more reliable service and cleaner energy, all while keeping electric rates well below Midwest and national averages.
During the first three years of the five-year plan, authorized in 2018 by the Missouri Legislature, Ameren Missouri has completed more than 2,000 projects. These projects include the installation of smart technology, such as outage detection equipment and restoration switches, new and upgraded substations, and stronger utility poles; all of which are delivering up to a 40% improvement in reliability.
The SEP is also helping attract dozens of new businesses to the state through one of the most competitive economic development incentive (EDI) rates in the nation, resulting in thousands of new jobs in Missouri.
In addition, suppliers and vendors statewide have grown their companies and are adding jobs as they provide labor, products and services for Smart Energy Plan projects. Missouri-based suppliers make up 57% of the companies utilized to support the SEP to date and more than $600 million has been spent with diverse suppliers during the first three years of the plan.
"The Smart Energy Plan has been a game changer for BBC Electric," said James Farrar, superintendent, BBC Electric, based in Joplin. "We've doubled our workforce and have invested in more equipment to take our company to a whole new level."
"Our business is up 25%-plus," said Mark Hemmann, account manager, Hitachi Energy, which operates the padmount transformer plant (formerly ABB) located in Jefferson City. "We see great development opportunities to bring more people on board and grow our facility. We look forward to participating in Smart Energy Plan projects in the future."
The current $8.4 billion Smart Energy Plan, including the EDI, will expire at the end of 2023 if not extended.
Sen. Bill White (R-32, Joplin) and Rep. Michael O'Donnell (R-95, St. Louis) have pre-filed bills for the 2022 session (SB756 and HB1734) that would make the EDI rate available to even more businesses and would extend the SEP beyond its Dec. 31, 2023 expiration date.