MBEF July 2024 Update
Greetings MBEF Members,
Welcome to our July update. I hope you all had a happy and safe 4th of July, celebrating our country’s independence. The freedoms we enjoy deserve celebration and should never be taken for granted.
Below are a few energy-related highlights from around the state:
Drought Conditions Improve/Flood Threats Result
Great news for our state’s farmers as drought conditions reached their lowest levels in well over a year. This hopefully leads to robust crop yields and energy cost relief.
Sadly though with positive news, there is tragedy as well. Our hearts go out to Boone County Fire Protection District Assistant Chief Matthew Tobben’s family and colleagues. Tobben lost his life while saving others during a flash flood incident. Flash floods are no joke and we urge Missourians not to test the waters during heavy rainfalls.
Electric Utility Legislation Signed By Governor
Very few bills were passed this legislative session, but a key energy bill was recently signed into law. Senate Bill 872 includes several positive provisions for Missourians. One such provision will allow Missouri electric utility companies a state and local sales tax exemption. This could be considered a tax break for big corporations, but in reality, it allows our electric utilities to more aggressively invest in materials and equipment to upgrade our electric grid. As we’ve seen in Texas and elsewhere, now more than ever, we must upgrade and protect our energy grid against severe weather threats and long-lasting outages. Along with more efficiency and reliability, the win for Missouri consumers comes when these cost savings are passed on directly to electric consumers through lower rates. This is a win-win for both the company and the consumer. Congratulations to all involved.
More Solar in Missouri
Missouri’s energy portfolio continues to diversify as more solar energy will be added to our grid. Ameren Missouri recently announced the addition of a solar facility in New Florence that will provide enough energy to power 4,700 Missouri households.
This is a small fraction of additional renewable energy that continues to come online across Missouri. A more diverse homegrown energy portfolio is our goal in an effort to reduce our dependence on foreign sources.
