(From the Public Service Commission)The Missouri Public Service Commission has approved four unanimous agreements filed by parties in an Empire District Electric Company d/b/a Liberty electric rate case.
Under the agreements, Liberty will increase annual electric revenues by approximately $35.5 million.
When Liberty filed its electric rate request with the Public Service Commission on May 28, 2021, it sought to increase annual electric revenues by approximately $79.9 million.
When Liberty filed its electric rate request with the Public Service Commission on May 28, 2021, it sought to increase annual electric revenues by approximately $79.9 million.
The fourth agreement in this rate case removes the Asbury generation plant issue and the Winter Storm Uri issue. Liberty will not seek rate recovery for Asbury and Uri, but will instead seek to securitize those costs (Case Nos. EO-2022-0040 and EO-2022-0193).
The remaining issue for the Commission to determine in this case is how the $35.5 million rate increase agreed to by the parties will be distributed among the various customer classes (i.e., residential, commercial, industrial). The Commission held hearings on that issue and a decision by the Commission will be announced in a future order.
Under the agreements approved, there will be no increase in the residential monthly customer charge (currently $13.00 a month). In addition, the agreements create time-of-use rate schedules for residential and small commercial customers. Time-of-use rates provide different prices according to costs to provide electricity during pre-determined times of the day (such as on-peak and off-peak). These rate structures are designed to give customers more control over their monthly electric bill. Time-of-use rates should be available by October 15, 2022. Liberty will also conduct a robust education program for its customers regarding time-of-use rates.
Also under the agreements approved, Liberty’s low-income pilot program will continue with the discount increasing to two times the customer charge during the peak heating months of December through February and peak cooling months of June through August. Liberty will also establish a critical needs program and funding for the low-income weatherization program will more than double from $250,000 to $550,000 annually.
“After reviewing the Agreements, the Commission determines that their terms are reasonable resolutions of the issues addressed in each partial stipulation and agreement,” said the Commission. “Further, the Commission determines that each partial stipulation and agreement should be approved and the respective signatories of each stipulation ordered to comply with its terms.”
Liberty serves approximately 155,400 electric customers in the Missouri counties of Barry, Barton, Cedar, Christian, Dade, Dallas, Greene, Hickory, Jasper, Lawrence, McDonald, Newton, Polk, St. Clair, Stone and Taney.
The remaining issue for the Commission to determine in this case is how the $35.5 million rate increase agreed to by the parties will be distributed among the various customer classes (i.e., residential, commercial, industrial). The Commission held hearings on that issue and a decision by the Commission will be announced in a future order.
Under the agreements approved, there will be no increase in the residential monthly customer charge (currently $13.00 a month). In addition, the agreements create time-of-use rate schedules for residential and small commercial customers. Time-of-use rates provide different prices according to costs to provide electricity during pre-determined times of the day (such as on-peak and off-peak). These rate structures are designed to give customers more control over their monthly electric bill. Time-of-use rates should be available by October 15, 2022. Liberty will also conduct a robust education program for its customers regarding time-of-use rates.
Also under the agreements approved, Liberty’s low-income pilot program will continue with the discount increasing to two times the customer charge during the peak heating months of December through February and peak cooling months of June through August. Liberty will also establish a critical needs program and funding for the low-income weatherization program will more than double from $250,000 to $550,000 annually.
“After reviewing the Agreements, the Commission determines that their terms are reasonable resolutions of the issues addressed in each partial stipulation and agreement,” said the Commission. “Further, the Commission determines that each partial stipulation and agreement should be approved and the respective signatories of each stipulation ordered to comply with its terms.”
Liberty serves approximately 155,400 electric customers in the Missouri counties of Barry, Barton, Cedar, Christian, Dade, Dallas, Greene, Hickory, Jasper, Lawrence, McDonald, Newton, Polk, St. Clair, Stone and Taney.
4 comments:
This is a Canadian owned company now, right?
Profits are good.
More profits are more good!
That's the republican mantra!
"The worst crime against working people is a company which fails to operate at a profit." - Sam Gompers, founder of the American Federation of Labor. Because operating at a loss means less for everyone.
But why is @6:24 PM talking about profits in an article which only mentions revenues, as well as some major costs, albeit one at least partly self-inflicted by shutting down a coal plant that we're going to sorely miss someday when the wind doesn't blow hard enough, perhaps on a winter day when there's not much sun or there's snow on the solar cells.
I would also like to know, although we'll find out later, if:
In addition, the agreements create time-of-use rate schedules for residential and small commercial customers. Time-of-use rates provide different prices according to costs to provide electricity during pre-determined times of the day (such as on-peak and off-peak). These rate structures are designed to give customers more control over their monthly electric bill. Time-of-use rates should be available by October 15, 2022. Liberty will also conduct a robust education program for its customers regarding time-of-use rates.
Will be optional or mandatory. If the latter, to add injury to injury, we're paying for the "upgrades" to digital meters which can implement this system.
@11:39 AM, yes, Empire was bought by a Canadian company and we lost its conservative approach to reliable electricity. Now we're getting financial engineering for what's likely to be a Green boondoggle.
If you disagree, where's the storage in the system? Without it, windmills and solar can't even pretend to supply baseline or peaking power, they only kinds that count, and time-of-use rates to pay for peaking power, well, we're likely to need a lot more expensive peaking power. Assuming there's natural gas even available at its new and improved prices, the US ability to ship it on the ocean will significantly increase this year when two conversion plants open, and Europe was much more hungry for gas before the Russian invasion of Ukraine.
512 pm is right.
Probably this Canadian conglomerate company is a mere corporate cutout for a Chinese sovereign wealth fund.
Plenty of coal in SW Kansas. Shutting down this generation plant will have blowback soon someday.
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