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Ameren and Spire raise rates faster than inflation


Recent rate hikes from Ameren and Spire, two utility providers in the St. Louis area, are exceeding inflation rates in Missouri, according to a report from the Consumer Council of Missouri. The report tracks bill changes since 2020 and highlights significant increases, with some customers seeing their bills double over the past four years.

For Ameren, average residential bills increased by over 19% in both summer and winter from 2020 to 2023. Meanwhile, Spire customers in both the East and West regions saw steep increases in their winter bills, with a 62% increase for the East region and a 109% increase for the West region since the 2020-21 winter season.

Ameren attributes its bill increases to funding infrastructure improvements, while Spire has been adjusting rates based on weather variations and commodity costs. Despite the rate hikes, the Consumer Council of Missouri notes that the increases and inflation rates are lower than the rate of weekly wage increase in Missouri, which is at 16%.

Both companies have stated that the rate increases are necessary to cover investment in cleaner electricity, grid strengthening, and recovery costs of system upgrades. The report raises concerns about the impact of these rate hikes on Missouri residents and calls for greater transparency and accountability from the utility providers. As the cost of living continues to rise, consumers are being urged to monitor their utility bills and pursue energy-saving measures to mitigate the financial burden of these rate hikes.

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Photo credit fox2now.com

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