Dive Summary:
- The increase is necessary to offset maintenance expenses and capital costs stemming from a May, 2011 tornado, according to Empire District President and CEO Brad Beecher.
- Clean energy mandates are the second major expense in the increase request, namely the construction of federally mandated transmission lines that transmit renewable energy power.
- If the Missouri Public Service Commission approves the increase, higher rates will appear on electric bills in December.
From the article:
Empire District Electric Company plans to advance its request to increase electricity rates. The company reported second quarter earnings of $10.7 million but will look to increase its rates to make approximately $30.7 million per year, an additional $7.6 million per quarter.
On July 6, the company filed a rate request with the Missouri Public Service Commission seeking an annual increase in electric customer revenues of approximately $30.7 million, or 7.56%. ...
