Ameren Missouri has filed a request to adjust its electric base rates for summer 2025 with the Missouri Public Service Commission (PSC).
The new rates, to be applied in mid-2025, will recover major electric system upgrade costs as well as cleaner electricity generation investments to ensure the system remains reliable and resilient for customers.
"The grid and generation upgrades we are making as part of Ameren Missouri's Smart Energy Plan are improving customer reliability," said Mark Birk, chairman and president of Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE). "Our storm hardening and smart technology efforts have saved nearly 91,000 customer outages and 36 million outage minutes from January 2023 through the end of May 2024."
The filing will be reviewed by the PSC and other stakeholders over the next 11 months. Upon approval of the request by regulators, the rate adjustment is expected to cost an average residential electric customer with 1,011 kWh of usage, about $17 a month, in mid-2025.
According to the Edison Electric Institute Typical Bills and Average Rates Report through June 30, 2023, residential rates for Ameren Missouri customers are approximately 28% below Midwest and national averages. Ameren Missouri rates will remain well below the averages after the request is granted.
Key components of the rate adjustment request include:
- Strengthening the grid and investing in smart technology through Ameren Missouri's Smart Energy Plan to ensure reliable energy for our customers.
- Replacing aging infrastructure with newer, upgraded power lines with increased capacity supporting resiliency and providing flexibility to reroute power during an outage while crews safely make repairs.
- Adding new and upgraded substations with smart technology that can more rapidly detect and isolate damage, speeding power restoration.
- Upgrading utility poles, many fortified with stronger composite materials, which can better withstand severe weather and winds up to 70 mph.
- Maintaining a diverse generation portfolio of reliable, low-cost on-demand energy. As energy demand and extreme weather threats increase, it is more important than ever to maintain the availability of our energy centers to meet the needs of customers.
- Providing cleaner energy to the communities through the installation of three new solar energy centers set to be in service at the end of 2024. Combined, they are anticipated to produce the energy necessary to power approximately 93,000 homes annually. The company is also partnering with nonprofits and others by installing solar canopies in parking lots across the region through the Neighborhood Solar program.
- Offering an enhanced customer experience through rate options that provide customers with more convenience, choice and control over their electric usage. Customer benefits include personalized usage information and various rate options to choose from that specifically meet a customer's lifestyle. Smart meters also enable faster connection when moving or starting service.
The company offers flexible payment options and helps connect customers with government and community assistance funding programs through the Low-Income Home Energy Assistance Program (LIHEAP).
"We are committed to ensuring the system is reliable for all our customers while keeping costs as low as possible,” said Warren Wood, vice president of regulatory and legislative affairs at Ameren Missouri. “As a result of the investments we have made, our customers are seeing fewer outages with shorter durations, delivering up to a 40% improvement in reliability on circuits with innovative technology and associated grid upgrades."
