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PSC Grants $226 Million AmerenUE Rate Hike June 1, 2010

Posted by kbianews in St. Louis Public Radio.
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St. Louis Public Radio’s Maria Altman brings us this story. 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 Ameren 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.”

The commission voted 4 to 1 for the increase with Chairman Robert Clayton casting the only no vote.

A coalition of interest groups and businesses formed the Fair Electricity Rate Action Fund to lobby against the request. Spokesman Daniel Pfeifer says at first blush the decision 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 percent rate increase that AmerenUE had asked for.”

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.
AmerenUE has gotten the go-ahead for a 226 million dollar rate increase.

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