PR Newswire
ST. LOUIS, March 25, 2020
ST. LOUIS, March 25, 2020 /PRNewswire/ -- Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), announced today that residential, commercial and industrial customers' electric rates will decrease starting in April. The Missouri Public Service Commission (PSC) approved a $32 million decrease in the company's annual revenue requirement, which translates to a savings of approximately $15 per year for an average residential customer. The decrease marks the second consecutive decrease since 2018, when customers received a 6% rate cut as part of the company's Smart Energy Plan.
"We recognize the importance of keeping customer rates affordable as we implement our Smart Energy Plan to upgrade infrastructure, improve reliability and add clean energy," said Marty Lyons, president of Ameren Missouri. "We're building a brighter energy future for the communities we serve with new solar and wind generation, economic development rate incentives for new or expanding businesses and innovative new services for millions of customers."
Rates have declined while Ameren Missouri implements the largest infrastructure upgrade plan in the company's 100-year history. Thousands of electric projects over the next five years, expected to total $7.6 billion, are designed to create a cleaner, stronger energy grid that will serve customers' changing energy needs for decades to come. While keeping rates affordable, the plan will strengthen the grid against storms and high winds, reducing the length and likelihood of outages, and increase capacity for growing communities.
For additional information on Ameren Missouri's Smart Energy Plan, visit www.AmerenMissouri.com/SmartEnergyPlan
Customer Benefits of the Rate Review Agreement:
Ameren Missouri has been providing electric and gas service for more than 100 years, and the company's electric rates are among the lowest in the nation. Ameren Missouri's mission is to power the quality of life for its 1.2 million electric and 132,000 natural gas customers in central and eastern Missouri. The company's service area covers 64 counties and more than 500 communities, including the greater St. Louis area. For more information, visit Ameren.com/Missouri or follow us on Twitter at @AmerenMissouri or Facebook.com/AmerenMissouri.
Forward-Looking Statements
Statements in this release not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, strategies, objectives, events, conditions, and financial performance. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. The following factors, in addition to those discussed under Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2019, and elsewhere in this release and in our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:
New factors emerge from time to time, and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. Except to the extent required by the federal securities laws, we undertake no obligation to update or revise publicly any forward-looking statements to reflect new information or future events.
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SOURCE Ameren Missouri
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