COLLINSVILLE, Ill. (WMBD) — For the third year in a row, Ameren Illinois is saying customers will pay less for electric service.
In a press release, Ameren Illinois officials said starting January 2021, customers will save about $12 per year for the delivery portion of electric bills, which is around 2.4 percent less each month for energy than they paid a decade ago. That plan was approved by the Illinois Commerce Commission.
Ameren Illinois Chairman and President Richard Mark said the company is using “performance-based rate-making” to construct what he calls a smarter electric infrastructure aimed at reducing the number and duration of outages while keeping customer rates stable.
“As the electric grid continues to evolve, we must continue to make strategic investments to strengthen our system,” Mark said. “Having a transparent and fair cost-recovery mechanism in place is allowing us to do just that while providing real and tangible benefits to our customers and the communities we serve.”
The rate decrease would be a reduction in the ballpark of $48.7 million. It would represent the seventh overall rate decrease since the General Assembly passed the Energy Infrastructure Modernization Act (EIMA) in 2011.
Employees installed 1.2 million smart meters and strengthened power poles and wires. They also placed more delivery infrastructure underground, all since the company began implementing its modernization action plan. Those improvements lead to a 20 percent improvement in system reliability.
“Today’s residential energy customer wants affordable, reliable energy,” Mark said. “They also want to know that we’re looking to the future and working on providing them with cleaner energy options. In the last few years, we have developed and tested systems needed to produce and store renewable energy. Our customer satisfaction results show that these efforts, along with our daily work modernizing the energy grid, do matter.”