Ameren Illinois electric rates fall 30% after summer surge

CENTRAL ILLINOIS (WCIA) — People can expect to see less expensive energy bills now that October has arrived.

Starting June 1, Ameren customers saw as high as a $45 increase in their electric bills following a resource auction by the Mid-Continent Independent System Operator (MISO), the regional grid operator for the Ameren service territory. The price increase was driven by a tightening supply-demand balance during the hot months of summer.

It was known from the beginning, however, that this increase would be temporary and that it would end on Oct. 1. On Wednesday, the Citizens Utility Board (CUB) said in a consumer alert that Ameren’s rate has indeed dropped.

The fall supply price is listed at 8.4 cents per kilowatt-hour for up to 800 kWh of usage, which is a 31% decrease from the summer price of 12.18 cents per kWh. This is around Ameren’s rate before the summer spike, the CUB said.

The rate drops to 7.5 cents per kWh after 800 kWh of usage.

While staff at the CUB said it is relieved that Ameren’s rates have gone down, they are also worried about alternative electric suppliers overcharging consumers.

“Far too many people could be paying much higher prices because they are with an alternative supplier—and that includes people on their community’s ‘municipal aggregation’ offer,” said CUB Executive Director Sarah Moskowirz. “Please check the supply section of your bills to see if you’re paying a higher rate with a company other than Ameren.”

A recent CUB study found that Illinois consumers have lost more than $2 billion to alternative electricity suppliers over the last decade.

Moskowitz stressed that Ameren is likely the best bet for electricity supply, but it is the consumers’ choice to select their supplier.

People with alternate suppliers will still receive a bill from Ameren with the alternative supplier’s charges included. People can find their supplier listed under the “electric supply” and “details from your electric supplier” sections and compare the supplier’s price to Ameren’s.

If people want to switch suppliers, they should call the phone number listed in the “details from your electric supplier” section, but it may take up to two months for the switch to take place. People who think they were fraudulently signed up can ask the supplier for a refund, and if they don’t like the supplier’s response, they can file a complaint with the CUB at 1-800-669-5556.