Residential electric supply rate rises slightly for Ameren customers from October to May

QUINCY — Ameren recently announced an adjustment in its residential electric supply costs that will extend from October 2023 through May 2024.

Ameren’s base rate for usage of up to 800 kilowatthours will be 8.104 cents per kilowatthour and 7.904 cents for each additional kilowatthour, according to Reg Ankrom, president of SIMEC Energy, a consultant to the city for its electric aggregation program. The comparable rate for Quincy’s Municipal Electric Aggregation program is 12.065 cents per kilowatthour. 

Ameren Illinois’ adjusted electric supply rate for residential customers in June was 8.04 cents.

At a time when electricity prices were soaring, Constellation New Energy had the lowest competitive bid to supply the city’s electric aggregation program. The Constellation rate is fixed through October 2024, but participants may opt out at any time to take advantage of the Ameren rate. Ameren’s typical electric customer uses approximately 10,000 kilowatthours per year.

Ameren adjusts its rates in June and October as summer and non-summer periods begin. The electric aggregation rate is fixed for the length of the city’s 18-month contract, which began in April.

Quincy officials pointed out that the Ameren rate provides additional savings for homes with electric heat and encouraged participants to compare costs.

To opt out or to obtain additional information about electric aggregation, residents can call Constellation New Energy’s customer care center toll free at 800-990-2004.

Ameren will continue to deliver electricity to residents and small businesses, answer calls about power quality and outages, and bill for all electric supply and distribution services. Answers to questions about delivery service and bills are available by calling Ameren’s toll-free number at 800-755-5000.