Ameren Illinois files plan that could decrease customer electric rates
Ameren Illinois has filed a plan with the Illinois Commerce Commission that could decrease customer electric rates next year.
The energy provider announced Thursday that approval of the submitted plan would lower monthly electric delivery bills for the typical residential customer by approximately $1.13 per month.
If approved, this would be the sixth rate decrease by Ameren Illinois electric delivery rates since the state’s Energy Infrastructure Modernization Act (EIMA) passed in 2011. The EIMA is a $2.6 billion investment by ComEd to strengthen and modernize the state’s electric grid.
“EIMA is a win-win for our customers,” Richard J. Mark, chairman and president, wrote in a news release. “The resources we’re asking the ICC to approve will enable us to continue to modernize the electric grid while keeping rates stable.”
According to an economic impact report commissioned by Ameren Illinois, grid modernization under EIMA generated nearly $1.7 billion in direct and indirect economic output, including $31.6 million in state tax revenues. The company stated in the news release that it had added 1,400 employee and contractor jobs during the period.
Ameren stated that the requested rate reduction comes after prudent cost management, operational efficiencies and lower costs to fund capital projects. Coupled with expected lower supply costs, overall customer monthly electric bills are expected to be lower in 2020 than in 2012 and remain below the 2018 national average, the release stated.
“The future is bright for Illinois energy consumers,” Mark wrote. “Reliability is up, the frequency and duration of outages are down, and technology is being implemented in ways never before imagined. At the same time, the average monthly residential electric bill remains virtually unchanged.”
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