JEFFERSON CITY — State Sen. Mike Kehoe, R-Jefferson City, today (1-24) filed legislation to create thousands of good-paying jobs making Missouri’s electric infrastructure more reliable and technologically advanced, while better positioning the state to attract high-tech and manufacturing companies.

“Consumers, businesses and state regulators expect and demand reliable energy delivery. Missouri’s economic future depends upon it. This legislation will allow Missouri’s regulated electric utilities to improve reliability while creating good jobs and economic development opportunities,” Sen. Kehoe said. “Over time, these vast investments in infrastructure will save customers money through increased reliability and improved power plant efficiency.”

Senate Bill 207, also known as the Infrastructure Strengthening and Regulatory Streamlining (ISRS) bill, will remove unnecessary regulatory barriers that prevent Missouri’s electric providers from making needed upgrades to substations, distribution systems and generation facilities. Sen. Kehoe’s bill extends to electric utilities the same regulatory structure successfully used for the last decade by gas and water utilities to file for more timely reimbursement of money already spent on modernizing the state’s electric infrastructure. The process helps utilities make infrastructure investments that improve reliability, reduce outages, and save money.

Importantly, SB 207 includes the significant consumer protections found in the existing ISRS law covering gas and water utilities. These include provisions that limit the amount of infrastructure costs that may be recovered by utilities, make any rate adjustments temporary and subject to refund, and ensure extensive review by the Missouri Public Service Commission.

“Gas and water providers have been able to use this process for a decade to modernize their infrastructure, proving the stringent consumer protections that are also in my bill. It’s a sensible step to extend the law to cover electric utilities and facilitate the significant reinvestments that will strengthen our economy,” Sen. Kehoe said.  “In fact, bond agencies and companies like Westinghouse that are interested and ready to invest in Missouri believe that these changes are critical.  Updating these century-old processes will best position Missouri for Small Modular Reactor (SMR) technology.”

The senator continued, “Modernizing the electric system will bring waves of economic benefits. An updated power grid will make Missouri even more attractive as an incubator for the SMR development opportunities.”

Senator Kehoe noted that surrounding states have already made similar regulatory changes: “Their infrastructure investments implementing smart grid technology and efficiency upgrades attract and benefit businesses that could – and should - be doing business in Missouri.”

To keep track of this measure or any of Sen. Kehoe’s 2013 legislation, please visit www.senate.mo.gov/kehoe.