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PSC estimates $22M in expenses for FY22

  

JEFFERSON CITY, Mo. — Missouri’s Public Service Commission (PSC) met this week to approve more than $20 million in estimated expenses for the regulation of Missouri’s utilities for the 2022 fiscal year.

Commission Staff compiled the estimates, putting the commission’s total need at $22.28 million based on multiple funding sources, including the nearly $14 million appropriated by the state legislature directly for the commission. Other funds are expected from the Department of Commerce and the Office of Administration. Staff subtracted $3.8 million in unexpended funds from last year’s estimates in its analysis as well as an approximated $600,000 reimbursement through the Federal Gas Safety program. 

The assessment divided Missouri’s public utility companies into six categories: electric, gas, heating, sewer, water, and telephone. In total, $17.8 million in expenses should be compensated directly by the commission in FY 2022. 

Broken down by group, electric providers are expected to spend more than $8.8 million in the upcoming fiscal year while natural gas providers are to be reimbursed $4.3 million. Water and sewer companies are expected to see a combined $3.4 million with telephone companies allocated $1.13 million and heating groups receiving nearly $62,600. 

Each group was allocated an attributable share of the $17 million. The deducted funds are earmarked to go toward each group’s estimated expenses in proportion to their gross intrastate operating revenue for the 2020 calendar year. 

The commission’s Budget and Fiscal Department was directed to calculate the amount of the assessment against each public utility with a statement rendered to them by July 1. Assessments will be due by July 15 or payable in quarterly increments at the discretion of the company. 

PSC Chairman Ryan Silvey told The Missouri Times the assessment was a statutory requirement filed annually ahead of the beginning of the fiscal year. The estimates are required through a Missouri statute first enacted in 1947.