ST. LOUIS, March 22, 2018 /PRNewswire/ -- As a result
of its recent rate case, Spire customers will pay less for safe and
reliable natural gas service starting April
19. Typical residential customers in the St. Louis area will see their Spire natural
gas bill decrease by approximately $2
per month. Spire bills remain lower than a decade ago, even while
the company has upgraded hundreds of miles of pipeline across the
region.
These savings are due primarily to the recent growth of Spire
and federal tax reform. In the last five years, Spire has grown
through acquisitions of natural gas utilities in Missouri, Alabama and Mississippi. Spire's growth into the nation's
fifth-largest publicly traded gas utility has resulted in more than
$70 million in annual savings
for Missouri natural gas
customers. These savings have been passed along to customers as a
part of this rate case.
Spire is also the first Missouri utility to share the savings of
federal tax cuts with customers. Spire asked the Public Service
Commission to include the federal tax cut in the rate case to
expedite savings to customers, even though the impact of tax reform
fell outside the review period of the rate case.
"Several years ago, we made the decision to remake this company
with the aim of providing better, more cost-effective service to
our customers. The results of those efforts have been nothing short
of transformational and have directly led to savings for Spire's
Missouri customers. It's a
testament to the 3,300 dedicated Spire employees who deliver, and
even exceed these ambitious goals," said Scott Carter, Spire COO of distribution
operations.
Even while general rates decrease, other services have been
added to help customers. These programs include:
- Increased funding and eligibility for low-income assistance
programs
- New program to help customers catch up on bills
- New program to help customers stay connected to gas service
year round
- No credit card fees for online payments
Spire hasn't increased base natural gas rates for Missouri customers in eight years for anything
other than safety-related and public improvements. This general
rate case recovers costs for infrastructure as well as operating
and maintenance costs to deliver natural gas safely and reliably to
homes and businesses. It is separate from the Cost of Gas rate,
which reflects changes in the costs charged by our gas and pipeline
suppliers. Missouri requires
utilities to file a general rate case every three years to
incorporate costs related to pipeline safety upgrades into general
rates. As Spire continues to invest in safety and upgrade
pipelines, small adjustments will be requested to reflect those
costs.
About Spire
At Spire Inc. (NYSE: SR) we believe energy exists to help make
people's lives better. It's a simple idea, but one that's at the
heart of our company. Every day we serve 1.7 million homes and
businesses making us the fifth largest publicly traded natural gas
company in the country. We help families and business owners fuel
their daily lives through our gas utilities
serving Alabama, Mississippi and Missouri. Our
non-utility operations include Spire Marketing, which provides
natural gas marketing and related services. We are committed to
transforming our business and pursuing growth through 1) growing
organically, 2) investing in infrastructure, 3) acquiring and
integrating, and 4) innovation and technology. Learn more
at SpireEnergy.com.
Media Contact:
Jenny Gobble
Jenny.Gobble@SpireEnergy.com
314-342-3300
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SOURCE Spire Inc.