Game-changing energy policy could be extended, expanded

Missouri lawmakers are considering improving and expanding legislation that has been a “game-changer” for local businesses and the state’s energy grid. 

In 2018 the Missouri General Assembly passed a bill that enabled Ameren Missouri’s Smart Energy Plan. The plan invests in smart technology, stronger poles, and upgrading aging energy infrastructure to provide clean, reliable, and resilient energy to customers throughout Missouri now and for future generations. The 2018 legislation included an expiration at the end of 2023 unless it was extended. Legislation has been filed in both the Missouri Senate (SB 756) and House (HB 1734) that would extend and expand this landmark energy policy legislation.

“The Smart Energy Plan has been an absolute game-changer for BBC Electric,” said James Farrar, BBC Electric, which has roughly grown from 100 to 200 employees in the last two to three years. “It took our company to a whole new level.”

“As a supplier, as an employer, and as a customer to Ameren Missouri we have seen the full benefits of the Smart Energy Plan from all angles,” said Mark Hemmann with Hitachi Energy. Hitachi employs approximately 1,000 people in Missouri and continues to seek out local talent. 

In the first three years of implementation, the Smart Energy Plan has greatly benefitted Ameren Missouri customers and the state of Missouri with improved reliability through $2.7 billion of investment in the energy grid, the creation of 4,600 new jobs, the retention of 4,200 existing jobs, and a $15 million increase in tax revenue for local communities - all through more than 2,000 projects completed to date. Fifty-seven percent of these projects were supported by Missouri-based suppliers.

With two years remaining on the approved five-year plan, Sen. Bill White and Rep. Michael O’Donnell have filed bills to improve and extend the legislation beyond its Dec. 31, 2023 expiration.

In particular, the proposed legislation would expand the Economic Development Incentive (EDI) that is a part of the Smart Energy Plan. Numerous new and existing large/industrial energy customers have taken advantage of the EDI, which allows qualified customers to receive a significant discount on their new electric energy rates for a number of years. The bills would allow more large businesses to take advantage of the discount.

“Economic development is key for state and community growth,” White said. 

Learn more about the impact of the Smart Energy Plan in this video: The Ameren Missouri Smart Energy Plan-Creating jobs throughout the state of Missouri and by visiting AmerenMissouri.com/SmartEnergyPlan.