ST. LOUIS – The Citizens Utility Board said Ameren Illinois‘ said electricity price has gone up 126 percent compared to one year ago on Saturday, October 1.
CUB is now saying Illinois could see one of the most expensive winters in history. The Illinois Commerce Commission (ICC) said Ameren’s non-summer per-kilowatt-hour (kWh) price to compare to other suppliers is 12.36 cents per KWh for 0-800 kWh and 9.777 cents per kWh for usage over 800 kWh.
The CUB made note that, “The rate for the first 800 kWh of usage represents a 126 percent increase over the price last October. The “price to compare” includes the supply price, a transmission charge and a supply cost adjustment. Ameren does not profit off the price of electricity—they pass those costs onto customers with no markup. This rate is in effect through May 31, 2023.”
In June, Ameren Illinois said the higher price will cost users an average of about $50 a month extra. Ameren’s natural gas price has also gone up. This price changes monthly and compared to October 2021, it is up 33.5 percent at 89.078 cents per therm.
“The actual energy itself is procured by a state agency on behalf of our customers,” Tucker Kennedy, Ameren Illinois, said.
The Illinois Power Agency buys wholesale electricity for residential and small commercial customers.
“They go out on the open market; they look for energy at the lowest possible price they can get it. We enter into a contract with that state agency at that cost. We get that energy, we deliver it to our customers, and then we pass those costs directly back to the supplier,” Kennedy said.
The capacity charge is what is paid to generators ahead of time so they can be ready to produce on high demand days. Capacity prices are set according to an annual auction conducted by the federal grid operator for a region – MISO.
CUBHelpCenter.com has more information on how to be energy efficient to keep utility bills low.