Ameren customers in Missouri will see their electric rates reduced by almost 6.1 percent starting Aug. 1.
The Missouri Public Service Commission voted Thursday to fast-track the rate cut, which the St. Louis-based utility has estimated at $166 million.
The rate decrease would have eventually gone into effect following the passage of the federal Tax Cuts and Jobs Act of 2017, which reduced the corporate tax rate from 35 percent to 21 percent.
The expedited rate decrease was part of a larger package of legislation approved by state lawmakers in May.
Ameren said in a press release that the rate cuts are to “ensure that the benefits of the federal tax reduction are quickly provided to customers.”
Read More: St. Louis Post Dispatch