FOR IMMEDIATE RELEASE -- July 11, 2018
Contact: Kevin Kelly (573) 751-9300
PSC Issues Order in Empire Proposed Customer Savings Plan
JEFFERSON CITY---The Missouri Public Service Commission has issued its decision in an application filed by The Empire District Electric Company (Empire) regarding Empire’s proposed Customer Savings Plan (CSP) to achieve customer savings through the development of wind generation using federal tax incentives in conjunction with a tax equity partner.
Based upon a thorough review of the evidence in the case, the Commission has granted Empire certain accounting and depreciation treatment related to the CSP as well as a variance from the Commission’s affiliate transaction rule.
The Commission determined that Empire had presented credible and persuasive evidence that the Customer Savings Plan, if implemented as contemplated in the Joint Position filed by several parties in the case, would generate customer savings of approximately $169 million over 20 years and approximately $295 million over 30 years, relative to Empire’s current resource plan, and significantly reduce financial risk for Empire’s customers. The Commission noted that the millions of dollars in customer savings and the addition of renewable wind energy resulting from the CSP and the Joint Position could be of considerable benefit to Empire’s customers and the entire state.
“It is the public policy of this state to diversify the energy supply through the support of renewable and alternative energy sources,” said the Commission. “In past decisions, the Commission has stated its support in general for renewable energy generation, which provides benefits to the public. Empire’s proposed acquisition of 600 MW (Megawatts) of additional wind generation assets is clearly aligned with the public policy of the Commission and this state.”
The Empire District Electric Company serves approximately 151,700 electric customers in the Missouri counties of Barry, Barton, Cedar, Christian, Dade, Dallas, Greene, Hickory, Jasper, Lawrence, McDonald, Newton, Polk, St. Clair, Stone and Taney.