CUB: AMEREN ILLINOIS' SUMMER POWER PRICE INCREASES BY 120% ON JUNE 1

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Jun 01, 2022, 14:20 ET

CHICAGO, June 1, 2022 /PRNewswire/ -- As of June 1, Ameren Illinois' price for electricity will be more than 10 cents per kilowatt-hour (kWh), a 120 percent increase over what it was last summer, the Citizens Utility Board (CUB) said Wednesday.

According to the Illinois Commerce Commission (ICC), Ameren's summer "price to compare"—the rate customers should compare with alternative supplier offers—from June 1 to September 30 will be:

10.628 cents per kWh

Note: This rate includes the supply price, a transmission charge and a supply cost adjustment. Ameren does not profit off the price of electricity—they pass those costs onto customers with no markup. A new non-summer supply rate, which has yet to be announced, will take effect Oct. 1.

Ameren Illinois has estimated the higher prices will cost customers an average of $52 a month extra, or more than $620 in higher total bills through May 2023.

CUB, which has set up a special online resource at CUBHelpCenter.com, recommended that concerned consumers call Ameren Illinois to learn if they qualify for other energy assistance; explore payment plans the utility offers to pay off debt; and learn about the utility's money-saving energy efficiency programs. Smart, safe efficiency actions at home can help soften the blow of the high bills, CUB said.

"This will be a tough summer for many Illinois consumers, and we owe it to them to work together—policymakers, utilities, advocates—to find relief for people dealing with the heat and high bills," CUB Executive Director David Kolata said. "We urge people to take safe, energy-efficient actions at home to stay cool and ease the pain of this price spike. We also urge people to check on loved ones to make sure they're not taking risks this summer. Nobody should ever have to worry that it's too expensive to keep their homes safe from the summer heat."

The price increase is due to multiple problems affecting energy customers from coast to coast. Natural gas prices go through periodic spikes, and that volatility kept winter prices at their highest levels since the winter of 2008-09. The Russian invasion of Ukraine made a bad situation worse. Now, gas, which is often used to generate electricity, has pushed power prices to extreme levels across the nation.

CUB listed several key points for energy customers caught in this high-priced summer:

Stay in contact with your utility. Keep the lines of communication open this summer. Consumers who are struggling should contact their utilities to see if they qualify for other energy assistance, inquire about payment plans to pay off debt and learn about energy efficiency programs.

Beware of alternative supplier rip-offs. Alternative electricity suppliers are impacted by the same market conditions that are causing utility prices to increase, so be careful about getting lured into bad deals. Be wary of low introductory rates that will skyrocket after a short period, and read the fine print for add-on fees that can raise the cost of the plan. Since 2015, consumers have lost more than $1 billion to alternative power suppliers.

If your community has negotiated a power deal with a supplier, it's possible the price is lower than Ameren's supply rate. Find out when the offer expires.

Energy efficiency can help soften the blow of high prices. Energy efficiency is always important, and it's especially key at times like this. Weatherize your windows and doors to keep cool air in and warm air out. Set your thermostat at a safe level: 78 degrees when you're awake and home, and bump it up a few degrees when you're away or asleep. CUBHelpCenter.com has more tips.

Ameren, policymakers and advocates must work together to give relief to Ameren customers. CUB called for...

An expansion of energy assistance.
An expansion of Ameren's money-saving efficiency and demand-reduction programs, like Peak Time Rewards. These programs are often limited, or closed to new participants.
Better payment plans to help more Ameren customers pay off their debts and stay connected.
CUB is Illinois' leading nonprofit utility watchdog group. Created by the Illinois Legislature, CUB opened its doors in 1984 to represent the interests of residential and small-business utility customers. Since then, CUB has saved consumers more than $20 billion by helping to block rate hikes and secure refunds. For more information, call CUB's Consumer Hotline at 1-800-669-5556 or visit CUB's award-winning website, www.CitizensUtilityBoard.org.

SOURCE Citizens Utility Board