Massive Rate Increases on Residents and Small Business – Not what Missouri can afford.
In 2008, Missouri voters overwhelmingly approved a ballot measure that would increase our use of renewable energy in Missouri. A key component of that measure was a 1 percent cost cap, which was put in place to preserve Missouri’s already low electric rates.
Due to political and legal wrangling, much of the original ballot measure was thrown out. Now, a new measure has been introduced to correct the wrongs of 2008, but the cost cap language has been changed. Instead of protecting Missouri residents and small business owners, big industrial corporations receive a bailout on their electricity bills, leaving the rest of Missouri to pick up the tab.
Yesterday, in a hearing on renewable energy legislation, Sen. Mike Kehoe stated an analysis on electric rates for his small business demonstrated that under the proposed ballot initiative, he could see an increase of 45 percent on his business’ annual electric bill!
Sen. Kehoe is not alone. An analysis distributed to the Missouri General Assembly showed that other small business owners could also see massive rate increases on their electric bills, while the largest industrial consumers’ costs actually go down!
As the former political director of the 2008 Prop C campaign, I can say from experience that the latest proposal is not in the spirit of the Prop C Missourians overwhelmingly supported. Giving big businesses a bailout, while sticking residents and small business owners with a higher electric bill, is not we set out to do.
Missouri has an abundance of renewable and alternative energy sources, and they our essential to our energy future. It is not good policy, however, to bail out corporations and stick it to Missouri consumers.
