New partnerships to benefit all customers
ST.
LOUIS, July 15, 2022 /PRNewswire/ -- Today, a
group of leading organizations from across Missouri announced they're joining Ameren
Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), to bring
more clean energy to the state. These organizations are committing
to clean energy by choosing to purchase up to 100% of their total
energy use from renewable generation sources. To meet these
organizations' renewable energy goals, Ameren Missouri created the
Renewable Solutions program. The program would be served by a 150
megawatt (MW) solar facility being acquired by Ameren Missouri,
marking another step toward its transition to renewable energy.
"We know that reaching our goal of net-zero carbon emissions by
2045 will take innovative solutions and partnerships," said
Mark Birk, chairman and
president of Ameren Missouri. "This creative partnership with local
businesses and organizations is just one of the ways that we're
working to increase the amount of clean energy on the grid while
still maintaining the affordability and reliability our customers
expect."
The solar facility, in White County,
Illinois, is being developed by Invenergy, a leading
developer, owner and operator of sustainable energy
solutions. This facility, which Ameren Missouri previously
announced an agreement to acquire, is expected to produce the
energy equivalent to powering nearly 27,500 homes annually. The
acquisition is subject to regulatory approvals and customary
closing conditions and could begin serving customers as soon as
2024.
"As we advance our plans to grow renewable energy generation,
locating projects in Missouri and
surrounding states is necessary to maintain the reliability our
customers expect and the resiliency necessary for the grid," Birk
said.
All customers will benefit from the successful implementation of
the program through:
- Clean energy on the grid at a lower cost to all customers.
- Investment in local construction jobs, suppliers and increased
economic activity.
- Support of Ameren Missouri's transformative expansion of wind
and solar energy as part of the transformational changes toward
net-zero carbon emissions.
The following are some of the 10 organizations that have
committed to the growth of renewable energy in our region as part
of the Renewable Solutions program:
- Bi-State Development
- bioMérieux
- Emerson
- General Motors
- Mastercard
- SSM Health
- Walmart
"It's clear many business customers share our vision of a
sustainable energy future and are seeking to power their operations
with clean energy," said Patrick
Smith, vice president of economic, community and
business development at Ameren Missouri. "We created the Renewable
Solutions program as an easy way for these customers to take an
active role in reducing carbon emissions across the region."
Subscribers will receive Renewable Energy Credits (RECs) for
their participation, a tangible way to denote their own reduction
in emissions. They also will benefit from predictable pricing, and
the program will help them avoid the large capital investment
required to construct their own solar facilities.
Future Expansion
The Renewable Solutions program may be expanded in the future to
provide additional options for commercial, industrial and
governmental customers.
Small businesses and residential customers looking to increase
their own renewable energy usage have several options, including
Ameren Missouri's popular Community Solar program.
Both programs will help Ameren reach net-zero carbon emissions
by 2045 and the company's strong interim goals of a 60% reduction
in carbon emissions by 2030 and an 85% reduction by 2040, from 2005
levels. These goals are included in Ameren Missouri's comprehensive
integrated resource plan to safeguard long-term energy reliability
and resiliency while also accelerating the company's planned
additions of clean wind and solar generation by 2030.
Support for the Program
Renewable Solutions would not be possible without the support of
local organizations.
"Being part of Ameren Missouri's Renewable Solutions program to
develop clean energy is fully aligned with bioMérieux's CSR
strategy. We actively work to reduce our emissions in all our
operations and along the entire value chain. We are excited to
partner with the energy experts at Ameren Missouri to bring this
innovative concept to life." – Bart van
den Brand, Senior Vice President, Americas Operations,
bioMérieux
"Emerson has established a target to achieve net-zero operations
and source 100% renewable electricity by 2030. We commend the
Ameren Missouri team for developing this opportunity to invest in
renewable energy as businesses in our region work together toward a
more sustainable future." – Mike
Train, Senior Vice President and Chief Sustainability
Officer, Emerson
"GM is proud to be part of this innovative and forward-thinking
new program that will directly impact the region's transition to
clean energy, as well as move GM even closer to achieving our goal
of powering all our US facilities with 100% renewable energy by
2025. Ameren Missouri's Renewable Solutions program is a great
complement to GM's bold environmental goals and will help us create
a better future for all." – Kristen
Siemen, Chief Sustainability Officer, General Motors
"Everyone deserves the opportunity to live in a healthy
environment, free of pollution and with access to nutritious foods
and green spaces to play and work. As a faith-based, Catholic
health care system, preservation of the earth is part of our
Mission and Vision. This project enables us to lend our voice, and
our economic resources, as an advocate for smart policies,
alternative energy sources and greening our communities. We are
glad to partner with others to improve our environment and help us
all lead healthier lives." – Gerry
Kaiser, Vice President of Facilities and Real Estate, SSM
Health
About Ameren Missouri
Ameren Missouri has been providing electric and gas service for
more than 100 years, and the company's electric rates are among the
lowest in the nation. Ameren Missouri's mission is to power the
quality of life for its 1.2 million electric and 135,000 natural
gas customers in central and eastern Missouri. The company's service area covers 64
counties and more than 500 communities, including the greater
St. Louis area. For more
information, visit Ameren.com/Missouri or follow us on Twitter at
@AmerenMissouri or Facebook.com/AmerenMissouri.
Forward-looking
Statements
Statements in this release not based on historical facts are
considered "forward-looking" and, accordingly, involve risks and
uncertainties that could cause actual results to differ materially
from those discussed. Although such forward-looking statements have
been made in good faith and are based on reasonable assumptions,
there is no assurance that the expected results will be achieved.
These statements include (without limitation) statements as to
future expectations, beliefs, plans, projections, strategies,
targets, estimates, objectives, events, conditions, and financial
performance. In connection with the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995, we are providing
this cautionary statement to identify important factors that could
cause actual results to differ materially from those anticipated.
The following factors, in addition to those discussed under Risk
Factors in Ameren's Annual Report on Form 10-K for the year ended
December 31, 2021, and elsewhere in
this release and in our other filings with the Securities and
Exchange Commission, could cause actual results to differ
materially from management expectations suggested in such
forward-looking statements:
- regulatory, judicial, or legislative actions, and any changes
in regulatory policies and ratemaking determinations, that may
change regulatory recovery mechanisms, such as those that may
result from the impact of a final ruling to be issued by
the United States Court for the
Eastern District of Missouri
regarding its September 2019 remedy
order for the Rush Island Energy Center, the Missouri Public
Service Commission ("MoPSC") staff review of the planned Rush
Island Energy Center retirement, the July
2020 appeal filed by Ameren Missouri, Ameren Illinois, and
ATXI challenging the refund period related to the FERC's
May 2020 order determining the
allowed base return on equity ("ROE") under the Midcontinent
Independent System Operator, Inc. ("MISO") tariff, the July 2020 appeal filed by Ameren Missouri, Ameren
Illinois, and ATXI challenging the FERC's rehearing denials in the
transmission formula rate revision cases, and Ameren Illinois'
electric distribution service rate reconciliation request filed
with the Illinois Commerce Commission in April 2022;
- the length and severity of the COVID-19 pandemic, and its
impacts on our business continuity plans and our results of
operations, financial position, and liquidity, including but not
limited to changes in customer demand resulting in changes to sales
volumes; customers' payment for our services; the health, welfare,
and availability of our workforce and contractors; supplier
disruptions; delays in the completion of construction projects,
which could impact our expected capital expenditures and rate base
growth; changes in how we operate our business and increased data
security risks as a result of remote working arrangements for a
significant portion of our workforce; and our ability to access the
capital markets on reasonable terms and when needed;
- the effect on Ameren Missouri's investment plan and earnings if
an extension to use plant-in-service accounting ("PISA") is not sought by Ameren Missouri or
approved by the MoPSC;
- the effect on Ameren Missouri of any customer rate caps
pursuant to Ameren Missouri's election to use PISA, including an extension of use beyond
2023, if requested by Ameren Missouri and approved by the
MoPSC;
- the effects of changes in federal, state, or local laws and
other governmental actions, including monetary, fiscal, foreign
trade, and energy policies;
- the effects of changes in federal, state, or local tax laws,
regulations, interpretations, or rates, and challenges to the tax
positions taken by Ameren or its affiliates, if any, as well as
resulting effects on customer rates;
- the effects on energy prices and demand for our services
resulting from technological advances, including advances in
customer energy efficiency, electric vehicles, electrification of
various industries, energy storage, and private generation sources,
which generate electricity at the site of consumption and are
becoming more cost-competitive;
- the effectiveness of Ameren Missouri's customer
energy-efficiency programs and the related revenues and performance
incentives earned under its Missouri Energy Efficiency Investment
Act programs;
- our ability to control costs and make substantial investments
in our businesses, including our ability to recover costs and
investments, and to earn our allowed returns on equity, within
frameworks established by our regulators, while maintaining
affordability of our services for our customers;
- the cost and availability of fuel, such as low-sulfur coal,
natural gas, and enriched uranium used to produce electricity; the
cost and availability of purchased power, zero emission credits,
renewable energy credits, emission allowances, and natural gas for
distribution; and the level and volatility of future market prices
for such commodities and credits;
- disruptions in the delivery of fuel, failure of our fuel
suppliers to provide adequate quantities or quality of fuel, or
lack of adequate inventories of fuel, including nuclear fuel
assemblies from the one Nuclear Regulatory Commission-licensed
supplier of Ameren Missouri's Callaway Energy Center
assemblies;
- the cost and availability of transmission capacity for the
energy generated by Ameren Missouri's energy centers or required to
satisfy Ameren Missouri's energy sales;
- the effectiveness of our risk management strategies and our use
of financial and derivative instruments;
- the ability to obtain sufficient insurance, or in the absence
of insurance, the ability to timely recover uninsured losses from
our customers;
- the impact of cyberattacks on us or our suppliers, which could,
among other things, result in the loss of operational control of
energy centers and electric and natural gas transmission and
distribution systems and/or the loss of data, such as customer,
employee, financial, and operating system information;
- business and economic conditions, which have been affected by,
and will be affected by the length and severity of, the COVID-19
pandemic, including the impact of such conditions on interest rates
and inflation;
- disruptions of the capital markets, deterioration in credit
metrics of Ameren or its affiliates, or other events that may have
an adverse effect on the cost or availability of capital, including
short-term credit and liquidity;
- the actions of credit rating agencies and the effects of such
actions, including any impacts on our credit ratings that may
result from the economic conditions of the COVID-19 pandemic;
- the inability of our counterparties to meet their obligations
with respect to contracts, credit agreements, and financial
instruments, including as they relate to the construction and
acquisition of electric and natural gas utility infrastructure and
the ability of counterparties to complete projects, which is
dependent upon the availability of necessary materials and
equipment, including those obligations that are affected by
disruptions in the global supply chain caused by the COVID-19
pandemic;
- the impact of weather conditions and other natural phenomena on
us and our customers, including the impact of system outages and
the level of wind and solar resources;
- the construction, installation, performance, and cost recovery
of generation, transmission, and distribution assets;
- the effects of failures of electric generation, electric and
natural gas transmission or distribution, or natural gas storage
facilities systems and equipment, which could result in
unanticipated liabilities or unplanned outages;
- the operation of Ameren Missouri's Callaway Energy Center,
including planned and unplanned outages, as well as the ability to
recover costs associated with such outages and the impact of such
outages on off-system sales and purchased power, among other
things;
- Ameren Missouri's ability to recover the remaining investment
and decommissioning costs associated with the retirement of an
energy center, as well as the ability to earn a return on that
remaining investment and those decommissioning costs;
- the impact of current environmental laws and new, more
stringent, or changing requirements, including those related to the
New Source Review provisions of the Clean Air Act and
CO2, other emissions and discharges, cooling water
intake structures, coal combustion residuals, energy efficiency,
and wildlife protection, that could limit or terminate the
operation of certain of Ameren Missouri's energy centers, increase
our operating costs or investment requirements, result in an
impairment of our assets, cause us to sell our assets, reduce our
customers' demand for electricity or natural gas, or otherwise have
a negative financial effect;
- the impact of complying with renewable energy standards in
Missouri;
- Ameren Missouri's ability to construct and/or acquire wind,
solar, and other renewable energy generation facilities, retire
energy centers, and implement new or existing customer
energy-efficiency programs, including any such construction,
acquisition, retirement, or implementation in connection with its
Smart Energy Plan, integrated resource plan, or emissions reduction
goals, and to recover its cost of investment, related return, and,
in the case of customer energy-efficiency programs, any lost
margins in a timely manner, which is affected by the ability to
obtain all necessary regulatory and project approvals, including
certificates of convenience and necessity from the MoPSC or any
other required approvals for the addition of renewable
resources;
- the availability of federal production and investment tax
credits related to renewable energy and Ameren Missouri's ability
to use such credits; the cost of wind, solar, and other renewable
generation and storage technologies; and our ability to obtain
timely interconnection agreements with the MISO or other regional
transmission operators at an acceptable cost for each
facility;
- advancements in carbon-free generation and storage
technologies, and the impact of constructive federal and state
energy and economic policies with respect to those
technologies;
- labor disputes, work force reductions, changes in future wage
and employee benefits costs, including those resulting from changes
in discount rates, mortality tables, returns on benefit plan
assets, and other assumptions;
- the impact of negative opinions of us or our utility services
that our customers, investors, legislators, regulators, or other
stakeholders may have or develop, which could result from a variety
of factors, including failures in system reliability, failure to
implement our
- investment plans or to protect sensitive customer information,
increases in rates, negative media coverage, or concerns about ESG
practices;
- the impact of adopting new accounting guidance;
- the effects of strategic initiatives, including mergers,
acquisitions, and divestitures;
- legal and administrative proceedings;
- the impacts of the Russian invasion of Ukraine, related sanctions imposed by the U.S.
and other governments, and any broadening of the conflict,
including potential impacts on the cost and availability of fuel,
natural gas, enriched uranium, or other commodities, materials, or
services, the inability of our counterparties to perform their
obligations, disruptions in the capital and credit markets, and
other impacts on business and economic conditions, including
inflation; and
- acts of sabotage, war, terrorism, or other intentionally
disruptive acts.
New factors emerge from time to time, and it is not possible for
management to predict all of such factors, nor can it assess the
impact of each such factor on the business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained or implied in any
forward-looking statement. Given these uncertainties, undue
reliance should not be placed on these forward-looking statements.
Except to the extent required by the federal securities laws, we
undertake no obligation to update or revise publicly any
forward-looking statements to reflect new information or future
events.
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SOURCE Ameren Missouri