JEFFERSON CITY, MO – State Rep. T.J. Berry (R-38, Kearney) today thanked the Missouri Public Service Commission for ordering electric rates for Ameren Missouri customers to be cut by 6.1% thanks to SB 564, which was passed by the Missouri General Assembly in May.
Berry, the House handler or SB 564, supported including a provision in the legislation that mandated that electric utilities in Missouri pass along benefits of the federal tax cuts to customers within 90 days of the legislation being signed into law. Without the legislation, and if legislators had failed to update decades-old energy laws, it could have taken Missouri customers years to receive the full benefit of the federal tax cuts.
In the case of Ameren Missouri, $165 million will be returned to customers, resulting in a 6.1% rate cut taking effect Aug. 1.
“It’s great to see our legislation having such an immediate impact on customers and putting $165 million back into the Missouri economy,” said Rep. Berry. “Longer-term SB 564 also allows us to modernize Missouri’s grid and institute rate caps for the first time. I’m pleased to see Missouri energy policy heading in the right direction for years to come.”
The legislation will also help unlock more than $1 billion in grid modernization work that will benefit Missourians for decades to come.