JEFFERSON CITY –– Electric customers of The Empire District Electric Company will see a rate reduction of approximately $17.8 million under an order issued by the Missouri Public Service Commission. The rate decrease reflects a reduction in the corporate tax rate from 35% to 21% as a result of passage of the federal Tax Cuts and Jobs Act of 2017.
For a residential customer using 1,000 kWh (kilowatt-hours) of electricity a month, rates will decrease by approximately $5.16 a month, effective August 30, 2018.
On June 6, 2018, the Public Service Commission opened a case under a provision of Missouri Senate Bill 564 (SB 564) which was passed by the Missouri General Assembly and signed into law. A section of SB 564 gives the Commission one-time authority to order an adjustment to the electric rates of certain electrical corporations in light of the federal Tax Cuts and Jobs Act of 2017. The Commission held a hearing and oral argument in this case on July 20, 2018.
The Empire District Electric Company serves approximately 151,700 electric customers in the Missouri counties of Barry, Barton, Cedar, Christian, Dade, Dallas, Greene, Hickory, Jasper, Lawrence, McDonald, Newton, Polk, St. Clair, Stone and Taney.