Ameren asking for $402 million rate hike

The state’s largest electric utility is asking for more money from its customers.

AmerenUE is filing an increase request with the Missouri Public Service Commission to raise rates by 18 percent in a bid to rake in $402 million. In a press release the utility claims this would amount to less than 50 cents per day for the average household.

The release further claims that almost half the request is driven by investments made to continue system-wide reliability improvements for customers, increases in costs essential to generating and delivering electricity, and higher financing costs. The remainder would cover higher fuel costs and lower revenues from sales outside the company’s system.

Any increase must be approved by the Public Service Commission.