Dear Editor:
For several years, Missouri's largest monopoly electric utilities have been trying to use legislation to accomplish what they cannot through the Public Service Commission - adopting rules that will allow them to increase their profits and charge consumers much higher rates than are necessary.
Early this week, the Senate debated utilities' most recent effort, Senate Bill 190, which would make numerous changes to utility law including the adoption of several proposals that have been soundly rejected by regulatory authorities at the Public Service Commission. Taken as a whole, these changes could result in a 38 percent bill increase for consumers.
Fortunately, it was filibustered for several hours by lawmakers who are rightfully concerned about usurping the power of the regulatory body charged with protecting consumers. However, the Senate's decision to bring the bill up for two days in a row shows there is a very good chance that it will come back in the near future.
Unfortunately, it appears that utilities have misled some members of the legislature into thinking that they are paupers, that Missouri's electrical grid is in poor shape, and that they simply cannot make needed improvements without more money from families and small businesses. This couldn't be further from the truth.
In reality, Missouri's utilities are routinely recognized as the most reliable in the entire Midwest (indeed, our local provider - Ameren - is number 1), Ameren's stock price has increased by more than 70 percent over the past five years, and they have increased dividends to shareholders three times since 2014. They make an outstanding profit in Missouri and have plenty of money to invest in anything they would like; they do not need to ask for even more from their customers.
SB190 and its House equivalent, HB628, are bad for consumers and should be rejected.
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