The idea of a utility rate cap is gaining popularity among some Missouri business lobbies.
Last week, the Missouri Retailers Association issued a letter to the Missouri General Assembly calling for a 3 percent cap on annual electric rate increases.
The lobbying group, representing retailers around the state, said it would commit to working on energy legislation during the 2018 legislative session if the legislature passes rate caps.
That motion is now being seconded by the Missouri Grocers Association, which represents more than 1,300 local and family-owned grocers, distributors and suppliers across the state.
In return for implementing the rate caps, both groups say they will support changes to the regulatory process, addressing the lag and allowing utility companies to recover interest costs and asset depreciation, which would allow them to potentially move forward with grid modernization.
The rate caps, as proposed by the groups, would be some of the strongest in the country, but could have significant effects on citizens and businesses.
Read more: The Missouri Times