Hannibal Board of Public Works signs new Ameren contract

Hannibal's Board of Public Works could save its customers millions of dollars in the next two years. It signed a new contract with Ameren, that will take effect in 2012. That three-year contract includes substantially lower electric rates which could save Hannibal's B.P.W. five million dollars a year. KHQA asked the board's general manager, Bob Stevenson how this will affect customer rates. He says it's too early to tell, but one thing's for sure.

"The B.P.W. is carrying a significant debt from on our electric system. And the board has expressed a lot of interest in getting that paid down," said Stevenson.

He says customers will benefit from the contract, whether it be lower rates or improvements to the structure of Hannibal's electric system. Stevenson says one of it's bigger needs lie with the city's water and sewer system, but the money coming to Hannibal can only be used for the electric system. Plans are in the works to fix some electrical issues in the coming year.