Understanding how PUC rate case findings differ from a utility’s financial reports.
In awarding an electric utility more than $260 million in rate relief, Missouri Public Service Commission explained that the utility, Union Electric dba Ameren Missouri, had demonstrated that its earnings had been deteriorating and that absent additional revenues it would be unable to maintain its system or invest in badly needed facility expansions and improvements. It approved a rate of return on equity of 9.8 percent as opposed to the 10.50-percent level suggested by the company.