Missouri Senate passes electric rate legislation - KAIT Jonesboro, AR - Region 8 News, weather, sports

Missouri Senate passes electric rate legislation

(Source: AP Graphics Bank) (Source: AP Graphics Bank)

JEFFERSON CITY, Mo. (AP) - The Missouri Senate has passed legislation allowing the state's largest electric companies to recoup more of their costs for infrastructure improvements from their customers.

The Senate's 25-6 vote Thursday sends the bill to the House, where opponents who fear it will lead to higher utility rates plan to push for additional changes.

The bill affects about 2 million customers of investor-owned utilities such as Ameren Corp. and Kansas City Power & Light Co.

It lets those companies chose to be regulated under a new accounting method that incorporates more of their infrastructure costs into future rate cases.

Companies choosing that regulatory method would have to keep rates flat for three years but then could seek rate hikes of as much as 9 percent to account for those previous three years.

Utility bill is SB 564

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