Major happenings on the energy front in Missouri this week.
Important legislation to make our electric regulatory process more efficient and allow $1 billion in upgrades to our energy infrastructure – creating jobs in the process – made significant progress this week! The Infrastructure Strengthening and Regulatory Streamlining (ISRS) bill was discussed at a hearing of the Senate Energy & Environment Committee on Tuesday.
Introduced by Sen. Mike Kehoe and Rep. Jeanie Riddle, Senate Bill 207 and its companion House Bill 398, have widespread bipartisan support with 105 General Assembly members backing the legislation. Small and large business owners, the academic community and Missouri's well-trained workforce have also all rallied in support of each bill.
The Senate committee hearing room was packed with supporters as Missourians from across the state testified in support of this critical bill. Witnesses shared the key benefits of ISRS, like the construction jobs that will almost immediately be created, the manufacturing jobs our state will be positioned to attract and the improved reliability of our electricity infrastructure.
Click here to read news accounts and letters to the editor on the ISRS bill.
Also in the news, Missouri based company Burns and McDonnell and Westinghouse agreed to join in partnership to further the design and development of Small Modular Reactors. As you know, this could bring thousands of new jobs and make Missouri a global leader and exporter in the manufacturing and technology of SMRs. The first of these plants and many more could be manufactured right here in our state.
See more on this here.
We’ve seen promising progress on these issues but we have a long way to go. MBEF will continue to provide updates as the ISRS legislation moves through the process. Thank you for your continued support of Missouri’s energy future.
Exciting progress to report in the Missouri General Assembly this week! Rep. Jeanie Riddle introduced House Bill 398 with 87 co-sponsors (more than half the House). Rep. Riddle’s legislation, the Infrastructure Strengthening and Regulator Streamlining (ISRS) bill, makes a burdensome regulatory process more efficient and allows and encourages electric utilities to invest $1 billion in vital upgrades over the next decade – creating much needed jobs in the process.
Below is an excerpt from Sen. Mike Kehoe's Capitol Report:
Affordable and reliable energy is a critical component of our state’s economy. It powers our homes and businesses, attracts industry to our state and creates jobs for our citizens. But while Missouri is home to some of the most affordable electric rates in the nation, we face dramatic problems.
As you know, Missouri is home to some of the most competitive electricity rates in the country. These low rates play a critical role in our state’s economy. Visit our cost calculator to see how Missouri’s rates compare to the rest of the country.
Want to know what you are really paying for electricity? Check out MBEF's new cost calculator. See how Missouri rates compare to other states.