Ameren Missouri files request with state
regulators to adjust rates next summer
ST.
LOUIS, July 1, 2024 /PRNewswire/ -- On
June 28, Ameren Missouri filed with
the Missouri Public Service Commission (PSC) a request to adjust
its electric base rates next summer. The new rates would take
effect in mid-2025 to recover the costs of major electric system
upgrades as well as cleaner electricity generation investments to
ensure the system remains reliable and resilient for
customers.
"The grid and generation upgrades we are making as part of
Ameren Missouri's Smart Energy Plan are improving customer
reliability," said Mark Birk,
chairman and president of Ameren Missouri, a subsidiary of Ameren
Corporation (NYSE: AEE). "We've experienced several severe storms
across our service territory over the last year and a half, and the
system has performed well. Our storm hardening and smart technology
efforts have saved nearly 91,000 customer outages and 36 million
outage minutes from January 2023
through the end of May 2024."
Over the next 11 months, the filing will be carefully reviewed
by the PSC and other stakeholders. If the request is approved by
regulators, the rate adjustment in mid-2025 would cost an average
residential electric customer with 1,011 kilowatt-hours of usage
about $17 a month. Today, residential
rates for Ameren Missouri customers are approximately 28% below
Midwest and national averages, according to the Edison Electric
Institute Typical Bills and Average Rates Report through
June 30, 2023. Ameren Missouri rates
will remain well below these averages even if this request is
approved.
Key components of the rate adjustment request include:
- Strengthening the grid and investing in smart technology
through Ameren Missouri's Smart Energy Plan to ensure reliable
energy for our customers.
- Replacing aging infrastructure with newer, upgraded power lines
with increased capacity supporting resiliency and providing
flexibility to reroute power during an outage while crews safely
make repairs.
- Adding new and upgraded substations with smart technology that
can more rapidly detect and isolate damage, speeding power
restoration.
- Upgrading utility poles, many fortified with stronger composite
materials, that can better withstand severe weather and winds up to
70 mph.
- Maintaining a diverse generation portfolio of
reliable, low-cost on-demand energy. As energy demand and extreme
weather threats increase, it is more important than ever to
maintain the availability of our energy centers to meet the needs
of our customers.
- Providing cleaner energy to the communities we serve
through the installation of three new solar energy centers set to
be in service at the end of 2024. Combined, they can produce the
energy necessary to power approximately 93,000 homes annually. We
are also partnering with nonprofits and others by installing solar
canopies in parking lots across the region through the Neighborhood
Solar program.
- Offering an enhanced customer experience through rate
options that provide customers with more convenience, choice
and control over their electric usage. Customer benefits include
personalized usage information and various rate options to choose
from that specifically meet a customer's lifestyle. Smart meters
also enable faster connection when moving or starting service.
A slide presentation with additional details regarding Ameren
Missouri's rate review adjustment request is available at
AmerenInvestors.com. Customers can also
visit AmerenMissouri.com/InvestingInMissouri for more
information about the filing.
"We are committed to ensuring the system is reliable for all our
customers while keeping costs as low as possible. As a result of
the investments we have made, our customers are seeing fewer
outages with shorter durations, delivering up to a 40% improvement
in reliability on circuits with innovative technology and
associated grid upgrades," said Warren
Wood, vice president of regulatory and legislative
affairs at Ameren Missouri. "These investments, combined with our
new renewable energy centers, help ensure we have a reliable and
resilient system to serve customers today and into the future."
As the communities we serve manage current economic conditions,
Ameren Missouri has made even more energy assistance available. The
company offers flexible payment options and connects customers with
government and community assistance funding programs through the
Low-Income Home Energy Assistance Program (LIHEAP). Customers can
view what options are available to them at
AmerenMissouri.com/EnergyAssistance.
"We recognize the impact of electric rate adjustments and are
working to keep rates as low as possible while maintaining high
levels of reliability. We also want our customers to know we're
here to help," Birk said. "Any customers in need of
assistance should contact us today for information regarding access
to energy assistance grants with expanded eligibility requirements
and to arrange flexible payment options. We also have energy
efficiency programs and energy management tools to make it easier
for customers to manage their energy use."
About Ameren Missouri
Ameren Missouri has been
providing electric and gas service for more than 100 years, and the
company's electric rates are among the lowest in the nation. Ameren
Missouri's mission is to power the quality of life for its 1.2
million electric and 135,000 natural gas customers in central and
eastern Missouri. The company's
service area covers 64 counties and more than 500 communities,
including the greater St. Louis
area. For more information, visit Ameren.com/Missouri or follow us at @AmerenMissouri or
Facebook.com/AmerenMissouri.
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SOURCE Ameren Missouri