SB 564 brings rate cuts to electric consumers
Thanks to Senate Bill 564, Ameren Missouri customers will see their electric bills reduced by 6.1 percent starting on Aug. 1.
The bill by Sen. Ed Emery (R-Lamar), which was signed into law on June 1, allows Missouri utility companies to quickly pass their recent federal corporate tax cut savings on to consumers. Until now, state regulations prevented energy companies from doing so outside of a rate case.
In addition to enabling the rate cuts, the new law caps rates for the next five years to prevent high, unpredictable energy bills. It also includes a provision to modernize the state’s outdated energy grid and improve its reliability and security, helping to make Missouri a more competitive location for business investment and job growth.
The Missouri Chamber was a leading supporter of this legislation. The chamber’s Missouri 2030 strategic plan includes goals to address the state’s aging utility infrastructure as well as ensure affordable, reliable energy for Missouri families and businesses.