Ameren Missouri customers will start saving more than $6 a month on their electric bills starting Wednesday.
A residential customer who uses 1,000 kWh a month should expect to see an average decrease of $6.21 on their bill, about a reduction of $0.00621 per kWh (kilowatt-hour).
The rate decrease matches a reduction in the corporate tax rate from 35 percent to 21 percent, which was lowered as a result of the passage of the federal Tax Cuts and Jobs Act of 2017.
According to Ameren Missouri, its customers are the first on an investor-owned electric utility in Missouri to benefit from the federal tax changes.
The Missouri Public Service Commission gave approval to the agreement that allows the utility company to reduce its annual electric revenues by approximately $166.5 (6 percent) in July.
On June 6, the commission opened a case under a provision of Missouri Senate Bill (SB 564), which allows the commission to order a one-time adjustment of electric rates for certain utility companies.
Ameren Missouri provides electricity to more than 1.2 million customers.