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Ameren Missouri customers to receive 6% rate cut starting Aug. 1 as part of new 'Smart Energy Plan'
Actions by Missouri elected officials and regulators have enabled a timely $167 million rate decrease this summer and an accelerated grid modernization plan over the next five years
ST. LOUIS, July 31, 2018 /PRNewswire/ -- Starting tomorrow, Ameren Missouri customers will see their electric rates decrease by 6 percent, thanks to legislation passed by the Missouri General Assembly and swift action by the Missouri Public Service Commission.
The $167 million rate cut stems from federal tax reductions passed by the U.S. Congress in December, which required actions from Missouri lawmakers and regulators to expedite these considerable savings to customers. The rate cut is the first benefit customers will receive as part of Ameren Missouri's Smart Energy Plan, made possible by the new energy law. Also as part of the legislation, the new lower base electric rates will be frozen until April 2020.
"Under Ameren Missouri's Smart Energy Plan, our customers will experience lower costs right away and greater benefits in the future," said Michael Moehn, president of Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE). "The plan will meet our customers' desire for more affordable and stable rates, along with a smarter energy grid that is even more reliable, flexible and secure, all while incorporating new sources of clean energy. On behalf of our customers, we applaud the efforts of Missouri legislators and regulators to recognize the importance of passing and authorizing Senate Bill 564, which expedited these rate cuts to millions of customers."
The new law is enabling a major grid modernization plan, which is the cornerstone of Ameren Missouri's new Smart Energy Plan.
Highlights of the Smart Energy Plan include:
Missouri Senate Bill 564 was widely supported by customers, business organizations, unions and a bipartisan majority of more than 85 percent of the Missouri General Assembly.
Ameren Missouri has been providing electric and natural 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 130,000 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 AmerenMissouri.com or follow us on Twitter at @AmerenMissouri or Facebook.com/AmerenMissouri.
SOURCE Ameren Missouri
For further information: Missouri Communications, 314.554.2182, email@example.com