Ameren Illinois electric rates to decrease in 2021

Third consecutive year customers will pay less for electric delivery service

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Dec 10, 2020, 12:55 ET

COLLINSVILLE, Ill., Dec. 10, 2020 /PRNewswire/ -- Ameren Illinois residential customers will pay less for electric delivery service in 2021. Under the plan approved by the Illinois Commerce Commission (ICC), the typical Ameren Illinois residential customer will save approximately $12 per year on the delivery portion of their electric bill beginning in Jan 2021.

The approximately $48.7 million overall reduction in revenue represents the third consecutive rate decrease for Ameren Illinois customers and the seventh overall rate decrease since the Energy Infrastructure Modernization Act (EIMA) – or Smart Grid Bill – was passed in 2011. Customers who receive their energy supply from Ameren Illinois will pay 2.4 percent less each month for energy next year than they did 10 years ago. The Ameren Illinois residential rate is 21 percent lower than the national average.

"Under performance-based ratemaking, Ameren Illinois is constructing a smarter electric infrastructure, reducing the number and duration of outages and keeping customer rates stable," said Richard Mark, Chairman and President, Ameren Illinois. "As the electric grid continues to evolve, we must continue to make strategic investments to strengthen our system. 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."

Since the company began implementing its modernization action plan, 1.2 million smart meters have been installed, power poles and wires have been strengthened, and more delivery infrastructure is being placed underground. These improvements, along with new outage detection technology, have resulted in a 20 percent improvement in system reliability.

Customer satisfaction has also improved dramatically in the eight years that Ameren Illinois has been implementing its smart grid plan. Independent research studies consistently rank the company among the best in the energy sector for reliability and providing customer convenience options. And in recent years, the company's efforts to support the development of renewable energy supply are being acknowledged by residential customers eager for the environmental and cost saving benefits of solar and wind power. Ameren Illinois has introduced a plan – the Downstate Clean Energy Affordability Act – to maintain affordable performance-based ratemaking and increase the production of lower-cost solar energy for customers across central and southern Illinois.

"Today's residential energy customer wants affordable, reliable energy. They also want to know that we're looking to the future and working on providing them with cleaner energy options," said Mark. "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."

To learn more about Ameren Illinois' electric and gas modernization programs, visit AmerenIllinois.com/focus, Facebook.com/AmerenIllinois, and Twitter @AmerenIllinois.

Since the start of the COVID-19 pandemic, Ameren Illinois has been providing bill payment assistance, extended payment agreements and other support to help customers navigate through these difficult times. Those customers who are experiencing financial hardship due to COVID-19 should contact Ameren Illinois at 800-755-5000 or visit AmerenIllinois.com/Recovery to learn about their options.

About Ameren Illinois

Ameren Illinois delivers energy to 1.2 million electric and more than 800,000 natural gas customers in Illinois. Our mission is to power the quality of life. Our service territory covers more than 1,200 communities and 43,700 square miles. For more information, visit AmerenIllinois.com, find us on Twitter @AmerenIllinois or Facebook.com/AmerenIllinois.

SOURCE Ameren Illinois