Why SSS supports the Economic Development bill in Missouri

Legislation to allow Ameren Missouri to modernize its aging energy grid would cost residential customers about $1 more a month, but would bring them $2.40 in monthly benefits and savings, according to a study by Accenture, a global strategic firm focused on infrastructure, security and business services.

The dependable, secure, and “smarter” grid enabled by the legislation would help customers save money as a result of increased reliability, reduced maintenance costs and new tools to better manage their energy usage and cost, according to the study.

A provision in the proposed Missouri Economic Development and Infrastructure Act would make the savings possible, while creating thousands of jobs. That legislation is now making its way through the General Assembly.

State Sen. Ed Emery (R-31, Lamar), introduced the measure, Senate Bill 190; a similar bill, House Bill 628, was introduced in the Missouri House by State Rep. Rocky Miller (R-124, Lake Ozark).

Upgrades in the state’s energy grid could prevent some power outages and enable utilities to restore power more quickly after power interruptions. In addition, a smarter and stronger grid would provide a better defense against physical and cyber-attacks.

In addition, the legislation also encourages cleaner and more renewable energy in the state of Missouri, including home-grown biomass, which can help grow the economy of rural Missouri.

The economic benefits would include the creation of more than 3,000 jobs. These infrastructure upgrades would better position Missouri to attract state-of-the art manufacturing jobs.

At a hearing before the Missouri Senate Commerce Committee, proponents testified that Missouri’s electrical grid is the backbone of the state’s economy. Changes in the century-old policies could greatly boost the economy. Through a thoughtful policy adjustment, Sen. Emery’s legislation would enable Ameren Missouri to invest $1 billion to modernize the energy grid over a five-year period.

Missouri is one of only four states that have not updated their energy policies to make such a modernization possible.

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This article was originally published by Power forward Missouri, a subsidiary of Ameren Corporation.