PSC grants $226 million AmerenUE rate hike
By Maria Altman, St. Louis Public Radio
St. Louis, MO. – The Missouri Public Service Commission voted Friday to grant AmerenUE a $226 million rate increase.
The St. Louis-based utility had requested a $402 million hike.
AmerenUE spokesman Michael West says the company filed the request last year to help offset rising fuel costs and focus on the system's reliability.
He says the company is reviewing the PSC's decision.
"At this point we respect the decision the PSC has made in this case and so currently we're still assessing the full order," West said.
The commission voted 4-1 for the increase with Chairman Robert Clayton casting the only no vote.
The Fair Electricity Rate Action Fund, a coalition of consumer groups and large Missouri businesses, lobbied hard against the rate increase.
Spokesman Daniel Pfeifer said the PSC's decision at first blush looks like a victory for consumers.
"Although we're just beginning to review the details of the Public Service Commission's report I can tell you that it's very clear that they have heard the voice of tens of thousands of Missouri consumers who said they could not afford the 18% rate increase that AmerenUE had asked for," Pfeifer said.
But a Consumers Council of Missouri spokesman said the decision meant at least a 10 percent hike on residential consumers and still allows the utility double-digit profits.