Hearing on Missouri’s Energy Security Construction Act
On Tuesday April 27th, the House Utilities Committee passed Chairman Ed Emery’s HB2343, a follow-up to last year’s “CWIP” legislation. The bill provides a crucial financing tool for utility companies enabling them to recover construction costs for the development of new baseload generating plants.
The bill provides a regulatory framework that could bring a second nuclear plant to Missouri, which would be a tremendous boost to our economy.
At its peak, construction for a project the size of a Callaway II is expected to create roughly 3,500 new jobs. Those are well-paying jobs, providing healthcare and benefits to thousands of families. In addition, the project would annually generate over millions of dollars in economic activity. This turns into tax revenue that will benefit cities, schools and roads in communities all around Missouri. New transmission lines will be built, new homes will be purchased and area businesses will thrive.
With this potential economic impact at stake, it is crucial to note that the Missouri Public Service Commission maintains full regulatory authority over investor-owned utility companies and will preserve the process that allows Missouri consumers affordable electricity rates for generations to come.
