JEFFERSON CITY, Mo. (AP) -- State regulators have determined that Ameren Missouri owes its electric customers slightly more than $26 million for failing to include some revenue in its calculations.
The Missouri Public Service Commission on Wednesday approved an order for the St. Louis-based company to refund the money to customers.
But Ameren Missouri, a unit of Ameren Corp., won't be sending out checks. Instead, the $26.3 million will be applied by adjusting a fuel charge that customers otherwise would pay.
The PSC found that Ameren Missouri improperly excluded revenues from certain power sales agreements when calculating rates charged under its fuel adjustment clause.
Ameren Missouri called the decision disappointing but not surprising given a recent appeals court ruling on the matter. The company says it still believes its position is correct.
Ameren has 1.2 million electric customers in Missouri.