May 31, 2007
Jefferson City, Mo. — Attorney General Jay Nixon today filed a motion for rehearing with the Missouri Public Service Commission, seeking to overturn the $43 million rate increase awarded by the PSC to St. Louis utility Ameren Corporation on May 22.
“Ameren is not entitled to any rate increase, and should have received a rate cut from the PSC, as my office had requested,” Nixon said. “There needs to be more affordability for ratepayers and more accountability from Ameren. We are appealing the PSC decision to stand up for Missouri’s families.”
After Ameren filed its initial rate increase of $361 million, Nixon’s office conducted an extensive audit of the company’s books and records to determine the accuracy of its claims that increased costs necessitated such a massive rate increase. The audit revealed a number of areas where Ameren made omissions, improper accounting proposals or overstated costs in the company’s request for the rate increase, which would have been a state record. Though Ameren received an increase for far less than it requested, Nixon said it is still unacceptable to consumers.
“Through our exhaustive examination of Ameren’s books, it is quite clear that the company is not entitled to any rate increase,” Nixon said.
By law, the PSC has 30 days to rule on the Attorney General’s motion.