Statement By CUB Executive Director David Kolata Alerting Ameren Illinois Customers To Proposed Gas Rate Hike
CHICAGO, Feb. 16, 2018 /PRNewswire-USNewswire/ -- Ameren Illinois has proposed a $46.6 million natural gas rate hike. CUB is reviewing the increase, and we will fight every nickel the company can't justify. While we continue to analyze the proposed increase, we are pleased that Ameren is taking into consideration the change in the corporate tax rate and has committed to spending on energy efficiency programs. However, we are concerned that Ameren is asking for a high 10.3 percent Return on Equity (ROE), or profit rate for shareholders.
Background:
On Jan. 31, Ameren requested a $46.6 million natural gas rate hike. Ameren reportedly estimates that the typical customer using 745 therms annually will pay on average about 24 cents per month more on the delivery part of their bill.
The filing takes into consideration the decrease in the federal corporate income tax rate, from 35 percent to 21 percent, which had the effect of reducing the rate request by $24 million. (It would have been $24 million more if not for the tax rate reduction.)
The company is requesting a 10.3 percent Return on Equity (ROE), or profit rate for shareholders. Ameren's current ROE is 9.6 percent.
Ameren has committed to spending $21 million over the next four years on low- and moderate-income energy efficiency programs.
This increase will impact delivery rates, which take up about a third to a half of gas bills. That's what Ameren charges customers to cover the costs of delivering gas to homes?plus a profit.
Created by the Illinois Legislature, CUB opened its doors in 1984 to represent the interests of residential and small-business utility customers. Since then, the nonprofit utility watchdog group has saved consumers more than $20 billion by helping to block rate hikes and secure refunds. For more details, call CUB's Consumer Hotline, 1-800-669-5556, or visit CUB's award-winning website, www.CitizensUtilityBoard.org.
GameChange Solar, a leading global supplier of solar tracking solutions for ground-mounted PV plants, has been selected to supply its Genius Trackertm solar trackers for four new solar projects totalling over 500 megawatts (MW) in Southern Africa....
The report "Lubricants Market by Base Oil Type (Mineral Oil Lubricant, Synthetic Lubricants, Bio-based Lubricants), Product Type (Engine Oil, Turbine Oil, Metalworking Fluid, hydraulic Oil), End-use Industry (Transportation and Industrial) - Global...
Critical Communications World 2024 will be held at Dubai World Trade Centre, Dubai, UAE on 14th-16th May. Sushui Energy Technology (Shanghai) Co., Ltd. (hereinafter "Sushui Tech"), a fuel cell startup from China, together with company's strategic...
Aker BP delivered continued strong operational performance in the first quarter of 2024, with low cost and low emissions, and with all field development projects progressing according to plan.
HighlightsIncreased production: Oil and gas production...
"The power supply company took the initiative to offer door-to-door (DTD) services to solve our electricity needs. That's beyond appreciation!" On April 23rd, staffs from the State Grid Gaoqing County Power Supply Company (managed by State Grid Zibo...