Ameren Illinois Seeks Rate Increases Worth $111M
Get Breaking News First
SPRINGFIELD, Ill. (IRN) — The rate hike requests were filed Friday with the Illinois Commerce Commission, the state regulators who must decide whether to approve them. The process takes 11 months and the new rates would not take effect until early 2012.
Ameren says it deserves to make more money for the reliable service it provides, pointing out that, under law, it can collect a 10 percent return on its investment but typically gets in the range of 8 to 8.5 percent.
A typical residential customer would pay from $2.96 to $3.78 a month more than their current bill, dependent on actual usage. For typical residential gas customers, the bill increase would work out between $1.88 and $4.53 a month.
Ameren says individual customers can see the effects of the proposed new rates in detail on their own bills with an estimate that will be included with their April bill.
The Citizens Utility Board consumer watchdog group says it is still plowing through the numbers and information Ameren is using to justify its latest rate requests. But Director David Kolata says Ameren profits are “up considerably” and it’s hard to justify why they need more money.
(Contributing: Decatur Herald & Review)
Copyright Illinois Radio Network