MO HB2689

Creates special "aluminum smelter rate" allowing aluminum smelting facilities and electrical corporations to jointly apply for discounted electricity rates capped at $31.50 per megawatt-hour before January 1, 2017, or at the global average price for aluminum smelters (excluding China) after that date

Requires aluminum smelting facilities to maintain full-time employees equal to at least 1.5 times their megawatt demand to qualify for the special rate; rates increase 1% annually and reset to global average price after year five

Mandates the Division of Energy review Missouri's Comprehensive State Energy Plan by January 1, 2017, and biennially thereafter, with focus on customer savings, private investment in distributed energy, and 5-10 year forecasts for energy demand and supply

Establishes state policy to modernize electrical corporation regulation by allowing earnings caps, rate caps, and performance standards while enabling timely cost recovery for utilities and competitive rates for energy-intensive customers

Declares the aluminum smelter rate provisions an emergency measure effective immediately upon passage to preserve jobs in Missouri's aluminum smelting industry; provisions expire December 31, 2026