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February 22, 2013
17:59 EDTEDEEmpire District Electric files stipulated pact in Missouri electric rate case
The Empire District Electric Company announced that it has filed a Unanimous Stipulation and Agreement with the Missouri Public Service Commission, or MPSC, for changes in rates for its Missouri electric customers. This agreement, if approved by the MPSC, allows an annual increase in base revenues of about $27.5M. With the reduction in Fuel Adjustment Clause revenue of about $8.6M received during the audit period, the net increase to customers is about $18.9M or approximately 4.7%. For a residential customer using 1,000 kilowatt hours per month, the net impact will be an increase of about $5.60, when compared to the audit period. The rates will take effect on April 1. The agreement includes an increase in depreciation rates; the continuation of the current fuel adjustment mechanism; and the continuation of tracking mechanisms for expenses related to employee pension, retiree health care, vegetation management, and Iatan 2, Iatan Common, and Plum Point operating and maintenance costs. The agreement includes a write off of approximately $3M for various items including the prudency of Iatan 2. Empire agreed to not implement a Missouri general rate increase prior to October 1, 2014.
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