Spire Missouri Inc., a wholly owned subsidiary of Spire Inc. (NYSE: SR), filed a general rate case with the Missouri Public Service Commission on November 2, 2026, under Docket No. GR-2027-0075. The filing establishes the utility's first future test year rates and includes mechanisms intended to improve revenue stability and predictability for customers.
The request represents a total revenue requirement increase of $228 million. This total is comprised of $57 million expected to be recovered through an Infrastructure System Replacement Surcharge (ISRS) and $171 million in net new revenues intended to recover costs from infrastructure investment and the capital structure.
The proposed rates are calculated based on an average fiscal 2028 future test year rate base of $5.1 billion. The filing assumes a common equity ratio of 55.0% and a return on equity of 10.5%. In accordance with Missouri law, the commission has 11 months to consider the filing, with new rates expected to be effective by October 2027.
If approved as filed, the filing states that the average residential bill would increase approximately $10 per month, or 11%, for customers in western Missouri. For eastern Missouri, the average residential bill would increase approximately $13 per month, or 15%.
The utility notes that since its last rate case, it has invested nearly $808 million to maintain and modernize its Missouri natural gas system. During fiscal year 2026, Spire supported 24 economic development projects in Missouri, representing an investment of nearly $537 million and the creation of more than 1,400 jobs.
Spire also highlighted that it connected Missouri customers with nearly $14 million in federal, state, and utility energy assistance funding during fiscal 2026. The company offers multiple programs to assist customers with higher energy burdens, including DollarHelp, Payment Arrangements, LIHEAP, and a Customer Charge Waiver Program.
