From AP - News Headlines -

ICC Finds Math Error in Ameren Rate Hike Ruling, Ameren Claims Additional Mistakes

A math error means Ameren can receive more revenue than originally anticipated in its request for a rate hike.

The Illinois Commerce Commission has corrected its projections. It says the utility company would get $15 million instead of the $5 million the agency when ruling on the request last week. But ICC spokeswoman Beth Bosch says while the additional $10 million dollars adds to Ameren's bottom line, it should have little, if any, impact on rates. "Because you spread it out over six companies, it doesn't change the rate impact significantly," said Bosch. "Gas rates will still be lower for delivery services. And the electricity rates will still be approximately the same as they were in the previous order." The increase between the rate case ruling released last week and the corrected one amounts about half a percentage point more for Ameren's IP, CILCO, and CIPS electric customers. Bosch says the mistake stemmed from a technical error in the calculation of Ameren's cash working capital.

But Ameren contends there are additional math errors in the ICC's ruling. Spokesman Leigh Morris says fixing 'several significant' mistakes would mean an additional $25 million in revenue, and the utility has filed an emergency motion with the ICC to have that done. But Morris says this decision is separate from whether the utility appeals its original rate hike request of $162 million. Ameren has until May 28th to request a re-hearing with the ICC.

Categories: Economics, Energy
Tags: economy, energy