Customer benefits of investments include bolstering electric
grid and more clean energy
ST.
LOUIS, Aug. 1, 2022 /PRNewswire/ -- Today,
Ameren Missouri filed with the Missouri Public Service Commission
(PSC) a request to adjust its electric base rates next year. The
new rates would take effect in mid-2023 to recover the cost of
major upgrades for electric system reliability and resiliency for
customers, as well as investments to support the transition to
cleaner energy for the benefit of customers and local
communities.
The filing made today will be carefully reviewed by the PSC and
many other stakeholders over the next 11 months. If the request is
approved by regulators, the rate adjustment in 2023 would cost an
average residential electric customer about $12 a month (based on approximately 1,017
kilowatt-hours of usage per month). Ameren Missouri's electric
rates today are only slightly higher than they were five years ago
and this rate adjustment request, if approved, would reflect a
yearly average increase of approximately 2.3% since 2017.
"The electric system upgrades Ameren Missouri has made are
crucial to ensuring our customers have safe and reliable energy
during the continued transition to cleaner sources of generation,"
said Mark Birk, chairman and
president of Ameren Missouri, a subsidiary of Ameren Corporation,
(NYSE: AEE). "Our customers depend on us to deliver reliable
service and they're seeing fewer outages with shorter durations,
delivering up to a 40% improvement in reliability on circuits with
innovative technology. Thanks to these investments, our system
performs better even in extreme weather events such as Winter Storm Uri last year and the intense heat
we are experiencing this summer."
Even in this challenging economic climate, Ameren Missouri is
working to keep electric rates as low as possible for customers by
cutting its costs and making prudent investments. Residential rates
for Ameren Missouri customers are more than 23% below national and
Midwest averages, according to the latest Edison Electric Institute
Typical Bills and Average Rates Report.
"Our goal is to keep rates as low as possible, while protecting
long-term energy reliability and resiliency for our customers,"
said Warren Wood, vice
president of regulatory and legislative affairs at Ameren Missouri.
"We do this by focusing on necessary and prudent system investments
our customers depend on, while also reducing our operational costs
wherever possible in these uncertain economic times. We work to
meet the needs of our customers today while transitioning to a
stronger, smarter, cleaner, more reliable and resilient grid for
future generations."
The need for reliable, resilient and affordable energy has never
been greater. Ameren Missouri changed its long-term energy plan
earlier this summer to address these needs while thoughtfully
transitioning to cleaner sources of energy and to achieve its
net-zero carbon emissions goal by 2045.
Key components of the rate review adjustment request
include:
- Strengthening the grid through Ameren Missouri's Smart
Energy Plan, including infrastructure upgrades bolstering
reliability and resiliency, more renewable generation, installation
of smart meters, and the addition of programs to stimulate economic
growth for communities across the state.
- Offering rate options that fit a range of customer
lifestyles, thanks to how smart meters communicate with the updated
grid. Customer benefits include the opportunity to reduce costs by
using information from their smart meter to help shift the timing
of their energy usage. Smart meters also enable quicker restoration
in the event of an outage and faster connection when moving or
starting service.
- Evolving our generation plans for cleaner energy and to
ensure the system remains reliable and resilient for all
customers.
- Providing cleaner energy to the communities we serve
through the Neighborhood Solar program by installing parking lot
solar facilities in partnership with local organizations.
A slide presentation with additional details regarding Ameren
Missouri's rate review adjustment request will be available at
AmerenInvestors.com beginning at 4 p.m.
Central time on Aug. 1,
2022.
As the communities we serve manage current economic conditions,
Ameren Missouri has made even more energy assistance available. The
company recently expanded its Clean Slate program by adding
$1 million in additional funding to
help those who may not qualify for state or federal assistance.
Ameren Missouri also offers flexible payment options and connects
customers with government and community assistance funding programs
through the Low-Income Home Energy Assistance Program (LIHEAP).
"We want our customers to know we are here to help them," 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."
For more information about the filing, visit
AmerenMissouri.com/InvestingInMissouri.
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 on Twitter at
@AmerenMissouri or Facebook.com/AmerenMissouri.
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SOURCE Ameren Missouri