Power Predictability and Reliability Act moves forward in the Missouri House
Legislation receives bipartisan approval from House Utilities committee
By a 17-4 vote, the Missouri House of Representatives' Utilities committee put its stamp of approval on a wide-ranging utility bill. Senate Bill 4, made up of more than 20 provisions, includes language establishing the Power Predictability and Reliability Act. This measure aims to reduce the disincentives energy companies face when investing in new, on-demand power plants and accelerate their deployment.
During a presentation to the Missouri Public Service Commission (PSC) in August, the Missouri Department of Economic Development reported the state has several large-scale business-related projects in its planning pipeline requiring more than a gigawatt of power each. According to the department, these projects represent the potential of thousands of new jobs and billions of dollars of investment in the Show-Me State.
"With energy usage trends skyrocketing throughout the country, new power plants are critical to not only safeguarding Missourians access to reliable electricity but to maintaining the state's status as an attractive place to do business," said Warren Wood, vice president of regulatory and legislative affairs for Ameren Missouri. "This legislation is designed to provide a level of regulatory certainty for the state's electric companies as they invest millions, or even billions, of dollars in new power plants."
In addition to the Power Predictability and Reliability Act, the legislation includes several reforms requested by the PSC and numerous consumer protection measures. Under SB 4, the PSC and the Office of Public Counsel, the state's official consumer advocate, would receive additional funding for their respective organizations. The legislation approved by the House Utilities committee also gives the PSC the ability to set a special electric rate for qualifying customers experiencing a high utility burden.
After SB 4 was approved by the House Utilities committee on March 10, the legislation was later green-lit by the House Rules – Administrative committee by a 6-2 vote. Senate Bill 4 is now eligible to be considered by the full House of Representatives. If the chamber approves the utility bill without making any changes to it, the legislation will then head to the governor's desk for his consideration.