Ameren Illinois residential customers will pay less for electric delivery service in 2018 under a plan filed today with the Illinois Commerce Commission. The proposal would lower monthly bills for the typical residential customer by approximately $1.70 per month.
It's the second consecutive rate decrease the company has filed for, and the fifth overall rate decrease proposal since the Energy Infrastructure Modernization Act (EIMA) – or Smart Grid Bill – was passed in 2011.
“Prudent cost management, solid project execution and reduced energy supply costs have enabled us to continue modernizing the electric grid with minimal impact on customer rates,” said Craig Nelson, senior vice president, Regulatory Affairs and Financial Services for Ameren Illinois. “We're pleased to report to the ICC and to our customers that Ameren Illinois electric delivery service rates will go down next year and our combined delivery and supply rates will remain well below the national average.”
Ameren Illinois, a subsidiary of Ameren Corporation (NYSE: AEE), expects to invest an additional $128.4 million on electric grid enhancements in 2017. Those project costs, along with other capital improvements of more than $300 million to maintain distribution equipment and install new technology to detect and reduce the frequency of power outages, will be recovered in 2018.
To date, Ameren Illinois' grid modernization initiatives have resulted in an overall 17% increase in reliability and saved customers an estimated $45 million each year. The company has installed
450,000 electric smart meters at customer premises and plans to add 540,000 more of the two-way devices through the end of 2018. Smart meters provide Ameren Illinois customers with enhanced energy usage data and access to programs to help them save on their energy bills.
The Ameren Illinois plan follows the passage of the Future Energy Jobs Act, legislation to keep two nuclear facilities in operation, preserve more than 4,000 jobs, and ensure the availability of lower- cost clean energy for consumers. Ameren Illinois projects that stable energy supply, along with stronger energy efficiency programs included in the legislation, will result in a further decrease in customer bills beginning in June of this year.
“Illinois' progressive energy policy is paving the way for Ameren Illinois to build a smarter grid and deliver value to our customers in central and southern Illinois,” said Nelson.
To learn more about Ameren Illinois' electric and gas modernization programs, visit AmerenIllinois.com/focus, Facebook.com/AmerenIllinois, and Twitter @AmerenIllinois.
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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