Missouri PSC Analysis: NO Additional Cost to Electric Customers Under Power Infrastructure Legislation

A new Missouri Public Service Commission analysis says legislation to modernize power infrastructure won’t carry any extra costs for electric customers compared to current law.

“The Missouri PSC, which has final say on any utility case, is the recognized authority when it comes to electric rates. The independent Missouri PSC has ultimate credibility on this matter, especially versus opponents of the legislation who have a long history of misrepresenting facts and falling far short of the truth,” said Irl Scissors, Executive Director of Missourians for a Balanced Energy Future.

The bipartisan PSC and its professional staff made the conclusion in a report requested by Senator Mike Kehoe, R-Jefferson City, sponsor of Senate Bill 207. The legislation would enable Missouri’s investor-owned electric companies to be reimbursed on a more timely basis for dollars already spent on power infrastructure. Five times in its report to Senator Kehoe about the potential cost of Senate Bill 207 for electric customers, the Public Service Commission said there is NO more impact on the costs than there would be after a larger, longer general rate case.

Scissors noted that SB207 will extend to electric utilities the same opportunity as water and gas utilities to recover costs from infrastructure investments. “For nearly a decade, our state’s gas and water utilities have used the procedure in the legislation to directly benefit consumers, stabilize rates and improve their infrastructure. It will modernize the current regulatory barrier for electric utilities across the state and allow for necessary upgrades to power generation facilities, substations and distribution systems. This legislation is a positive step in bringing the cost savings and benefits consumers deserve,” Scissors said.