FOR IMMEDIATE RELEASE -- July 05, 2018
Contact: Kevin Kelly (573) 751-9300
Ameren Missouri Electric Customers to see Rate Reduction
Under Agreement Approved by PSC
JEFFERSON CITY---The Missouri Public Service Commission has approved an agreement which reduces the annual electric revenues of Union Electric Company d/b/a Ameren Missouri by approximately $166.5 million (6%), effective August 1, 2018. The rate decrease reflects a reduction in the corporate tax rate from 35% to 21% as a result of passage of the federal Tax Cuts and Jobs Act of 2017. Ameren Missouri customers are the first customers of an investor-owned electric utility in Missouri to see the benefits of the federal Tax Cuts and Jobs Act of 2017.
On June 6, 2018, the Public Service Commission opened a case under a provision of Missouri Senate Bill 564 (SB 564) which was passed by the Missouri General Assembly and signed into law. A section of SB 564 gives the Commission one-time authority to order an adjustment to the electric rates of certain electrical corporations in light of the federal Tax Cuts and Jobs Act of 2017.
Under the agreement approved by the Commission, residential customers will see an electric rate reduction of approximately $0.00621 per kWh (kilowatt-hour). For a residential customer using 1,000 kWh a month, electric rates will decrease by approximately $6.21 a month.
Ameren Missouri provides electric service to approximately 1.2 million customers in Missouri.