St. Louis Post Dispatch: Electric rates in Missouri will drop next month
JEFFERSON CITY • Ameren customers in Missouri will see a more than 6 percent cut in their electric rates following action Thursday by state utility regulators.
Members of the Public Service Commission voted unanimously to fast-track the reduction in rates as part of a larger package of legislation approved by state lawmakers in May.
The lower rates would have eventually gone into effect in response to the federal tax cut passed by Congress late last year, which reduced the corporate tax rate from 35 percent to 21 percent.
But the state Legislature’s action requires utilities to pass along the rate cut within 90 days, rather than waiting on the longer, normal review process by the PSC.
Ameren has estimated the rate cut at $166 million, or nearly 6.1 percent, up from earlier estimates of 4.9 percent.
The reduction will go into effect Aug. 1.