An ongoing challenge of the rates charged by the state’s largest electic company results in a deal for a rate reduction. It stems from a six-year experiment that saw AmerenUE policing its own rates. Attorney General Jay Nixon says the deal struck between the state and AmerenUE results in a rate reduction that benefits consumers. The settlement will result in residential electric rates being lowered by approximately 5.4 percent over the next three years, consumers will receive one-time credits totaling $40-Million, and small business consumers would receive an additional $3-Million in rate relief over three years to promote economic development – resulting in a rate decrease of over 6-percent for those consumers. In addition, a low-income weatherization fund would also be created and funded with $4-Million. The deal must still be approved by the Public Service Commission.
