The Missouri Public Service Commission has approved an agreement that reduces the annual electric revenues of Union Electric Company doing business as Ameren Missouri.
The rate decrease of approximately $166,500.000 reflects a reduction in the corporate tax rate from 35 to 21% as a result of the passage of the federal Tax Cuts and Jobs Act of 2017. Residential customers using 1,000-kilowatt hours a month will see electric rates decrease by about $6.21 per month, effective August 1st.
The Public Service Commission reports that Ameren Missouri customers are the first of an investor-owned electric utility in Missouri to see the benefits of the Tax Cuts and Jobs Act.
The Commission opened a case June 6th, 2018 under a provision of Missouri Senate Bill 564 which was passed by the Missouri General Assembly and signed into law. A section of the bill gives the Commission one-time authority to order an adjustment to the electric rates of certain electrical corporations in response to the Tax Cuts and Jobs Act.
Ameren Missouri provides electric service to about 1.2 million customers in Missouri.