For the second consecutive year, Ameren Illinois residential customers will benefit from a decrease in their electric rates.
Under Ameren Illinois' plan, which was approved Wednesday by the Illinois Commerce Commission, the typical residential customer will save approximately $1.70 per month on their electric bill beginning in January 2018.
"We made a commitment to our customers and state regulators to build a stronger and more reliable electric distribution system and keep rates stable," said Richard J. Mark, chairman and president, Ameren Illinois. "The plan approved today demonstrates that prudent cost management and solid project execution can help our customers save."
Today's announcement marks the second consecutive and fifth overall rate decrease since the landmark Energy Infrastructure Modernization Act – or Smart Grid Bill – was passed in 2011.
Ameren Illinois says it is on pace to invest approximately $480 million in capital improvements in its electric grid this year for the benefit of its customers.
Ameren Illinois' grid modernization initiatives over the last six years have resulted in an overall 17 percent increase in reliability and saved customers an estimated $45 million each year. Along with installing storm-resilient power poles and wires, automated switches, and enhanced outage detection technology, the company has installed 650,000 electric smart meters at customer premises and plans to deploy the two-way devices to all of its 1.2 million customers by the end of 2019. Smart meters provide Ameren Illinois customers with enhanced energy usage data and access to programs to help them save on their energy bills.
"The smart grid program is delivering real and tangible results for energy consumers in Illinois, including greater reliability, a smarter and more technologically-advanced electric grid and more options for controlling energy usage," said Mark. "By making prudent investments in the system, we are meeting the needs of our customers today while planning for the future."