SPRINGFIELD — The Illinois Commerce Commission is expected to consider two proposals next month designed to save Ameren Illinois customers $3 per month or more on their bills.
In two separate proposals filed with the Illinois Commerce Commission, Ameren Illinois is seeking approval to pass along federal tax savings as soon as the March billing period.
The company says electric customers could save an average of $2.50 to $3 per month on bills, while natural gas customers could save an average of $1 per month. Customers using both electricity and natural gas could see a combined average.
“Under the new tax plan, Ameren Illinois’ effective tax rate will decrease by nearly 13 percent,” said Richard Mark, chairman and president of Ameren Illinois. “The plan we have filed with the ICC gives us the ability to expedite the return of these savings to our customers.”
The ICC is slated to meet in regular session at 10:30 a.m. Thursday in Chicago, but Ameren officials believe the proposals will be considered next month.
“The filing for gas customers was filed about two weeks ago and the one for electricity customers was filed on Monday,” said Ameren spokeswoman Marcelyn Love. “We believe the electricity decision is about two weeks away. We are not sure of when the decision on the natural gas will be.”
According to the paperwork filed with the ICC, the company would be passing on to customers about $50 million in estimated annual federal tax savings this year and next.
“This is a just and reasonable ‘win-win’ for customers,” wrote Matthew Tome, an attorney for Ameren Illinois in a summary filed with the ICC. “It accelerates customers’ receipt of the Tax Cuts and Jobs Act-related benefits.”
The Energy Infrastructure Modernization Act of 2011 provides a mechanism to return these savings to electric customers, but without filing the petition customers would have to wait until 2020 to receive the benefits.