On Feb. 3, 2012, we filed a rate increase request of approximately $376 million with the Missouri Public Service Commission (MPSC). This equates to a 14.6% electric rate increase or 46ยข per day for the average residential customer (based on approximately 1,100 kilowatthours of usage per month).
We are asking for this rate increase in order to recover costs we have already incurred to meet our customers' expectations.
These costs include:
- Higher net fuel costs for power plants
- Investments made primarily to improve the reliability of aging infrastructure and to comply with environmental and renewable energy regulations
- Higher costs associated with energy efficiency programs. These programs are expected to bring approximately $500 million in total customer benefits over the next 20 years
- Increasing costs, including those to meet renewable energy requirements, material costs and employee benefits
The MPSC has 11 months to thoroughly review our request and make a decision.
