This will raise the Fuel Adjustment charge on a typical residential customer’s electric bill from $1.66 to about $4.03 per month, the Public Service Commission said.
The rate increase, intended to cover rising fuel costs, goes into effect Sept. 23, regulators said.
Earlier this month, AmerenUE filed a request to raise electric rates 11 percent to $263 million to cover infrastructure investments. Friday’s rate jump is in addition to a $226 million electric rate increase that started in June.
AmerenUE, led by President and CEO Warner Baxter, said it is investing more than $1 billion in its energy infrastructure to improve reliability and comply with environmental regulations and is seeking to recover those costs. The projects include a $600 million upgrade and two scrubbers at the company’s Sioux plant to eliminate sulfur dioxide emissions.
AmerenUE also made infrastructure improvements at its Taum Sauk Power Plant, which began operating again in April, after four years of rebuilding and $490 million in construction following the reservoir’s catastrophic breach in 2005 that sent a 20-foot-high wall of water cascading through Johnson’s Shut-Ins State Park.
Effective Oct. 1, AmerenUE’s name will change to Ameren Missouri.
Reposted from St. Louis Business Journal