SPRINGFIELD, Ill., June 30, 2017 /PRNewswire/ -- Ameren Illinois customers are saving on their electric bill as a result of a new state law that went into effect on June 1.
The Future Energy Jobs Act (FEJA), signed into law by Governor Bruce Rauner on December 7, 2016, is expected to reduce Ameren Illinois residential customers' future bills by an average of $1.69 per month over 10 years.
"Customers in central and southern Illinois are reaping the benefits of Illinois' progressive energy policies," said Richard J. Mark, chairman and president of Ameren Illinois. "Energy companies, like Ameren Illinois, have an opportunity to continue modernizing our electric infrastructure, which has resulted in a 17 percent increase in system reliability for customers and created hundreds of direct and indirect jobs. We are also strengthening our investments in energy efficiency and giving more low-income families the opportunity to take advantage of energy-saving programs."
"From the first day this legislation was proposed, our singular focus was on ensuring Ameren Illinois customers would benefit from any bill before we would commit our support," Mark continued. "I want to thank leaders of the House and Senate, the Governor and regulators for working with us to keep the interests of downstate energy consumers in mind as this bill was negotiated."
Under the new law, Ameren Illinois, a subsidiary of Ameren Corporation (NYSE: AEE), expects to invest approximately $99 million in energy efficiency each year for the next four years. Over the past nine years, Ameren Illinois' energy efficiency programs have helped residential and business customers reduce their energy consumption by 11.8 million megawatts, the equivalent of 1.2 million homes' electricity use for one year.
In addition to supporting new efficiency programs, FEJA will help keep two Exelon nuclear facilities in operation, preserve more than 4,000 jobs, and ensure the availability of lower-cost clean energy for consumers. It also significantly restructures the renewable portfolio standard mechanism, creating new opportunities for additional wind and solar resource development in Illinois.
Ameren Illinois customers can expect to save more money on their electric bill in 2018. Under a separate proposal filed April 13 with the Illinois Commerce Commission, the company announced its plans to decrease its delivery service rates in 2018. An Ameren Illinois residential customer who uses an average 10,000 kWh of electricity per year would save approximately $1.70 per month. The Commission is expected to issue its final order in December.
About Ameren Illinois
Ameren Illinois delivers energy to 1.2 million electric and 816,000 natural gas customers in Illinois. Our mission is to power the quality of life. Our service territory covers more than 1,200 communities and 43,700 square miles. For more information, visit AmerenIllinois.com, find us on Twitter @AmerenIllinois or Facebook.
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SOURCE Ameren Illinois