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Ameren Corporation (NYSE: AEE), headquartered in St. Louis, Missouri, is a Fortune 500 company that enhances the quality of life for millions of people throughout Illinois and Missouri. Ameren Illinois provides electric distribution and transmission services, as well as natural gas distribution services, while Ameren Missouri delivers vertically integrated electric services, boasting a generating capacity of over 10,200 megawatts, and natural gas distribution services. Together, they serve 2.4 million electric and over 900,000 natural gas customers across an expansive 64,000 square-mile area.
Ameren's core operations include owning rate-regulated generation, transmission, and distribution networks that deliver electricity and natural gas. They are the largest electric utility in Missouri and the second largest in Illinois, and rank among the nation’s largest investor-owned electric or gas utilities. Ameren’s infrastructure investments and strategic initiatives consistently aim to modernize the grid, integrate renewable energy, and enhance reliability and customer service.
Recent milestones include the pricing of $350 million aggregate principal amount of 5.25% first mortgage bonds due 2054 by Ameren Missouri to fund capital expenditures and refinance short-term debt. Ameren Missouri also announced future plans to allocate $205 million in rebates and incentives as part of their energy efficiency initiatives, aimed at making energy usage more efficient and cost-effective for customers.
Ameren is continually focused on financial growth and sustainability. The company reported 2023 diluted earnings per share (EPS) of $4.38, with a 2024 guidance range established at $4.52 to $4.72 per diluted share. Ameren aims to achieve a compound annual growth rate in EPS of 6% to 8% from 2024 through 2028. Their sustainability efforts are underscored by a commitment to a cleaner energy future, as highlighted in their 2024 Sustainability Report.
Ameren’s strategic grid modernization includes the development of an $800 million Castle Bluff Energy Center to bolster energy reliability, and the approval to build approximately 400 MW of solar energy capacity to enhance renewable energy generation. Their investments in advanced technologies and infrastructure are designed to ensure reliable, safe, affordable, and cleaner energy for their customers.
Ameren remains dedicated to corporate responsibility, evidenced by their recognition as a 2024 Tree Line USA utility for their urban forest management efforts. This commitment to the environment, combined with consistent financial performance and strategic growth initiatives, positions Ameren Corporation as a leader in the energy sector.
Ameren Missouri has filed a request with the Missouri Public Service Commission to adjust electric base rates, aiming for a mid-2023 implementation. This adjustment is to recover costs from significant upgrades for grid reliability and cleaner energy initiatives. If approved, average residential customers could see a rise of about $12 per month, equating to a 2.3% average yearly increase since 2017. The company claims its rates remain over 23% below national averages, emphasizing ongoing cost management amid economic challenges.
On July 15, 2022, Ameren Missouri announced partnerships with leading organizations in Missouri to enhance clean energy initiatives through its Renewable Solutions program. The program involves purchasing up to 100% renewable energy, aided by a new 150 MW solar facility expected to power approximately 27,500 homes annually. Ameren aims for net-zero carbon emissions by 2045, with significant interim goals. Participating organizations include General Motors and Walmart. Customers will gain predictable pricing and Renewable Energy Credits, fostering local economic growth while supporting sustainability.
Ameren Corporation (NYSE: AEE) will hold a conference call on August 5, 2022, at 9 a.m. Central Time to discuss its second quarter 2022 earnings and guidance. The call will be hosted by Martin J. Lyons Jr., CEO, and Michael L. Moehn, CFO. Interested parties can access the live broadcast via AmerenInvestors.com, with a replay available for one year post-call. Ameren serves approximately 2.4 million electric and over 900,000 natural gas customers across a 64,000-square-mile area, through its subsidiaries in Missouri and Illinois.
Ameren Corporation (NYSE: AEE) has appointed Leonard "Lenny" Singh as the new chairman and president of Ameren Illinois, effective July 1, following Richard Mark's retirement on August 1. Singh, who has over 30 years of utility experience and previously served as senior vice president at Consolidated Edison in New York, is expected to enhance service for 1.2 million electric and over 800,000 natural gas customers in Illinois. His diverse background in electric and natural gas operations positions him to lead the company's strategic initiatives in the evolving energy sector.
Ameren Missouri has announced an agreement to acquire the 200 MW Huck Finn Solar Project, developed by EDF Renewables. This project, subject to regulatory approvals, is projected to create over
Ameren Missouri announced the acquisition of the Huck Finn Solar Project, a 200 MW facility in central Missouri, making it the largest solar installation in the state. This project, expected to generate enough power for 40,000 homes, will create over 250 construction jobs and inject millions into the local economy. With regulatory approvals, operations could start in 2024. The acquisition aligns with Ameren's goal of adding 2,800 MW of renewable energy by 2030 and achieving net-zero carbon emissions by 2045, five years earlier than previously planned.
Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), has updated its long-term energy plan to enhance reliability and accelerate clean energy initiatives. The company has moved its net-zero carbon emissions goal up by five years to 2045, aiming for a 60% reduction in carbon emissions by 2030. The plan includes retiring over 3,500 MW of fossil generation by 2030 and adding 2,800 MW of clean wind and solar power, potentially investing $4.3 billion. The initiative reflects Ameren's commitment to sustainable energy while ensuring affordable service for Missouri customers.
On May 13, 2022, Ameren Corporation (AEE) announced a quarterly cash dividend of 59 cents per share, payable on June 30, 2022 to shareholders recorded by June 8, 2022. Additionally, Union Electric Company and Ameren Illinois Company declared quarterly cash dividends on all classes of their preferred stock, with payment dates on August 15, 2022 and August 1, 2022, respectively. Ameren serves 2.4 million electric and over 900,000 natural gas customers across a 64,000-square-mile area.
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