ST. LOUIS, MO (STL.News) Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), announced today that residential, commercial and industrial customers’ electric rates will decrease starting in April. The Missouri Public Service Commission (PSC) approved a $32 million decrease in the company’s annual revenue requirement, which translates to a savings of approximately $15 per year for an average residential customer. The decrease marks the second consecutive decrease since 2018, when customers received a 6% rate cut as part of the company’s Smart Energy Plan.
“We recognize the importance of keeping customer rates affordable as we implement our Smart Energy Plan to upgrade infrastructure, improve reliability and add clean energy,” said Marty Lyons, president of Ameren Missouri. “We’re building a brighter energy future for the communities we serve with new solar and wind generation, economic development rate incentives for new or expanding businesses and innovative new services for millions of customers.”
Rates have declined while Ameren Missouri implements the largest infrastructure upgrade plan in the company’s 100-year history. Thousands of electric projects over the next five years, expected to total $7.6 billion, are designed to create a cleaner, stronger energy grid that will serve customers’ changing energy needs for decades to come. While keeping rates affordable, the plan will strengthen the grid against storms and high winds, reducing the length and likelihood of outages, and increase capacity for growing communities.
For additional information on Ameren Missouri’s Smart Energy Plan, visit www.AmerenMissouri.com/SmartEnergyPlan
Customer Benefits of the Rate Review Agreement:
- Rate decrease of approximately $1.25 per month or approximately-$15 per year for the average residential customer.
- Energy management options to match customers’ lifestyles.
- Ameren Missouri donation of $7.5 million to energy assistance and weatherization programs for low-income customers starting in April 2020.
- Development of an online rate comparison tool for customers.
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 132,000 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.
NOTE: this is NOT the complete release.