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Ameren disappointed in ICC rate cut order

Fri, 21 Sep 2012 09:16:26 CDT

Utility company Ameren is disappointed with the Illinois Commerce Commission's decision this week to order a nearly $50 million delivery rate cut. The $48.1 million reduction in Ameren's revenue is more than twice what was sought by the utility company as it prepares to modernize its electric grid. Spokesman Leigh Morris says it requested just over 19-million dollars. Citizens Utility Board spokesman Jim Chilsen says Ameren now needs to follow up on its plan to reduce electric bills and improve reliability. But Morris says the 10-year smart grid plan is moving forward, after a modernization measure passed the legislature last year.

Morris says the ICC failed to follow lawmaker's directions, stating the panel misapplied the law when it comes to determining revenue requirements. He says Ameren will request a re-hearing. The ruling will only impact electric rates the next three months.

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