JEFFERSON CITY, Mo. – The Missouri Public Service Commission opted on Wednesday – reluctantly for some of its members – not to open a working case that would have taken a closer look at a state energy plan that would drastically restructure the way electric rates are set.
Chairman Daniel Hall announced at the meeting’s outset that the agenda item that would open a working case would not be voted on Wednesday in light of the fact that a bill stalled in the legislature last session.
“I was under the impression that we would have a middle ground to work from,” Hall said. “The General Assembly was not able to get into a discussion of what that middle ground would look like. But when you have powerful interests on both sides, sometimes it’s difficult to find a middle ground.”
Hall told commissioners that he also shared some utilities’ concerns about grid modernization, calling it a “radical departure from 100 years of ratemaking.”
House Bill 2689 would have changed ratemaking for utility companies, but it was filibustered in the Senate, with some opposition from consumers and support from some businesses.
Hall pulled the item from the docket in hopes of coming to some sort of agreement and opening the discussion at a later date. Ameren Missouri, for example, would not participate in the discussion because of a fear that any discussions could be used against them in a future rate case.
Commissioner Scott Rupp said he was inclined to move forward with discussions regardless of Ameren’s participation.
“There’s a part of me that says go ahead and have it without them,” Rupp said. “I don’t know if they would ever have participated. … Hopefully, this will be looked at at a future time.”
In other action, the commission unanimously voted to authorize Ameren to issue and sell up to $150 million in bonds to refinance the electric and gas provider’s short-term debt.
The commission approved the request only after Ameren agreed to six conditions, including that the commission’s ruling not be considered for bond rate-making purposes, that the utility notify the commission within 10 days of issuing any bonds, that Ameren file a five-year capitalization expenditure schedule in future finance cases and that the authority to issue bonds is to expire after one year.
