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Ameren Illinois (NYSE:AEE) on Tuesday said the Illinois Commerce Commission approved a yearly increase of $112 million for its natural-gas delivery service. The November 16 order includes $77 million that would have been assigned to riders in 2024.
The increase translates into a 9.44% allowed return on equity, a 50% common equity ratio and a rate base of $2.85 billion.
The order also reflects a $93 million cut in distribution and transmission capital investments included in the company’s requested increase in revenue that used 2024 as a future test year. The reduction won’t have a material effect on 2023 results, according to the company.
Rates reflecting the state agency’s order will be effective this month.
Ameren Illinois (AEE) hasn’t decided whether it will seek a rehearing of the order or appeal it.