Ameren Illinois electric customers could save an average of $2.50 to $3 each month, and natural gas customers could save an average of $1 per month.
The company presented a plan to pass savings from the recent federal tax cut legislation to the Illinois Commerce Commission, according to an Ameren news release. If the ICC approves the plan, customers using both electricity and natural gas could see a combined savings on their bills this year.
Ameren Illinois filed the proposal Monday for electric customers. A similar proposal was filed last week on behalf of natural gas customers.
"Under the new tax plan, Ameren Illinois’ effective tax rate will decrease by nearly 13 percent,” said Richard Mark, Ameren Illinois chairman and president. "The plan we have filed with the ICC gives us the ability to expedite the return of these savings to our customers."
The Energy Infrastructure Modernization Act of 2011 provides a mechanism to return savings to electric customers. However, if the company does not file a petition, customers have to wait until 2020 to receive the benefits.
If approved by the ICC, Ameren Illinois customers will begin to see savings in March.
"We have been in contact with the ICC since Congress passed the federal tax plan in December to get these savings returned to our customers as soon as possible," Mark said.
In December, the ICC ruled in favor of Ameren Illinois' request to decrease its delivery services rates. Residential customers will save approximately $1.70 each month on their electric bills in 2018 as a result of the previous ICC ruling.