By WMBD TV
PEORIA, Ill. (WMBD) — The price of electricity is temporarily increasing for Ameren Illinois basis generation service customers starting on June 1.
Through an email, Ameren Illinois alerted basic generation service customers that the rate will increase from 8.7 cents per kilowatt hour to about 11 cents per kWh.
This is due to a higher state-wide customer demand for electricity services. An Ameren spokesperson said the price for electricity is at a historically high level.
Energy is transferred by the Midcontinent Independent System Operator (MISO), which allows for electricity to go across the grid.
“While MISO’s capacity prices came in lower than last summer, the overall cost of electricity remains at historically high levels due to continuing supply and demand imbalances in the regional energy markets,” said Matt Tomc, vice president of Regulatory Policy and Energy Supply for Ameren Illinois .
“The impact on customer bill amounts will be dependent on the weather and the amount of electricity a customer uses. To help our customers manage rising electricity costs, we will provide bill assistance and flexible payment options along with incentives to reduce energy use at home and work,” he said.
This temporary increase will last until September 30.
Meanwhile, customers who are a part of the Peoria Electricity Municipal Aggregation Program with Homefield Energy are already paying 13.29 cents per kWh. That rate started in May and is locked in through June 2027.
Those who have other electric power suppliers may want to check that rate. Customers can opt out and still take the basic generation service. In the case of Homefield Energy customers, they would save themselves 2.29 cents per kWh, at least for the next five months.
The continued volatility in the electricity market and cost increases based on supply and demand might also further the case for those who can invest in a solar panel or array.
Bill payment grants and flexible payment options for customers are available here.
WMBD TV first reported this story. You can read the original story online at CIProud.com.
