(Photo By Flickr User Holly Sparkman)

Ameren Illinois says customers will see the amount they pay on bills drop.

The company says a new plan, which needed approval from the Illinois Commerce Commission on Wednesday, can save each Ameren customer $1.70 per month on their monthly payments. The change is expected to go into effect January 2018.

Ameren says a drop in rates is happening for the second straight year, thanks to an investment over $480 million by the company to make electric grid improvements. The company claims its efforts to develop modernization on its grid has helped reliability experience a 17 percent growth and saved customers $45 million in a six-year period.

Ameren Illinois chairman and president Richard Mark said,

“We made a commitment to our customers and state regulators to build a stronger and more reliable electric distribution system and keep rates stable. The plan approved today demonstrates that prudent cost management and solid project execution can help our customers save.”

Ameren says it has worked to set up 650,000 smart meters at homes in Illinois and installed other technology in the state, including storm-resilient power poles and wires, automated switches and enhanced outage detection technology.

Mark also said,

“The smart grid program is delivering real and tangible results for energy consumers in Illinois, including greater reliability, a smarter and more technologically-advanced electric grid and more options for controlling energy usage.By making prudent investments in the system, we are meeting the needs of our customers today while planning for the future.”

(Information courtesy of WAND-TV)