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Ameren Illinois proposes electric rate hike next year

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COLLINSVILLE (HOI) - Ameren Illinois wants to raise electric rates.

The Collinsville-based utility announced Friday it is asking the Illinois Commerce Commission to approve the increase, which it said would add about $2.75 per month to the delivery portion of residential customer bills next year.

There have been several rate reductions in recent years, and this latest request would be just the second rate hike in six years, according to the company.

"This plan will enable us to continue making prudent investments to strengthen the electric grid, reduce outages, and keep rates stable,"  Ameren Illinois Chairman and President Richard J. Mark said in a prepared statement.

It will take the ICC eight months to review the request, according to a news release.

"The filing includes thousands of pages of documentation and financial disclosure statements justifying the proposed improvements and will be subject to a rigorous, eight month review by the ICC," the news release said.

The ICC is expected to make its decision this December with higher rates starting next year.   

Ameren Illinois provides electricity to 1.2 million Illinois customers, the company said.

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