By Ellie Coatar
(MDN News) -- Officials from Missouri's biggest power companies told a Senate panel on Tuesday, Feb. 5, that they need more cash for infrastructure upgrades, with that money potentially coming out of the pockets of Missourians.
The legislation, sponsored by Sen. Mike Kehoe, R-Jefferson City, would enable a rate increase to fund improvements to the electrical infrastructure that would allow utility companies to raise rates. The measure is largely supported by an electric alliance formed among Ameren Missouri, Kansas City Power & Light and The Empire District Electric Company.
Warner Baxter, Ameren's president and chief executive officer, told members of the Senate Commerce Committee Tuesday that the proposal would create jobs for thousands of Missourians. An Ameren study found that the bill will cause about a 50-cent increase for average residential electrical consumers.
Consumer advocate groups that oppose the bill, such as Missouri Industrial Energy Consumers, worry that the increased rates will negatively affect Missourians, especially the elderly, those with disabilities and low-wage workers.
Steve Spinner, the chairman of Missouri Industrial Energy Consumers, said the power companies are trying to go around state regulators and use the General Assembly to get their money. Spinner is also the manager of energy procurement at Monsanto.
"Streamlining the regulatory process is the goal of all regulated monopolies and it only benefits utilities, allowing them to get into the pockets of ratepayers faster with less oversight and less recourse," Spinner said.
The committee has not yet voted on the bill.
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