Spire Missouri files for rate increase to fund infrastructure
Spire Missouri has requested a rate adjustment from state regulators, citing the need to fund $808 million in infrastructure and safety upgrades.
Natural gas provider Spire Missouri has filed a rate case with the Missouri Public Service Commission, seeking approval to raise customer fees. The utility claims the revenue is necessary to offset $808 million spent on modernizing its distribution system and enhancing safety protocols.
If the proposed rates are approved by the commission, residential customers in western Missouri would see an average monthly increase of $10, or 11%. Customers in eastern Missouri face a steeper rise of approximately $13, or 15%. State regulators are expected to review the filing over an eleven-month period, potentially setting a new rate structure for next autumn.
Steve Mills, president of Spire Missouri, noted that the investments are designed to ensure long-term reliability and support economic development projects in the state. To mitigate the impact on lower-income households, the company is highlighting existing assistance programs and payment arrangements available to customers experiencing financial hardship.