ST. LOUIS, Jan. 10, 2018 /PRNewswire/ -- Ameren
Transmission Company of Illinois
(ATXI), a wholly owned subsidiary of Ameren Corporation (NYSE:
AEE), received approval from the Missouri Public Service Commission
(PSC) to proceed with the construction of the Mark Twain
Transmission Project, a 100-mile, 345,000-volt transmission line
and substation to be built in northeast Missouri. The PSC granted ATXI a certificate
of convenience and necessity (CCN) for the project, which will run
from Palmyra to Kirksville in Missouri and north to the Iowa border, completing a critical link in the
region's energy infrastructure.
"Approval of the Mark Twain Transmission Project is a
significant step toward strengthening our region's energy grid and
delivering customer benefits," said Shawn
E. Schukar, chairman and president of ATXI. "This project
will deliver greater energy reliability, economic growth and
improved access to clean energy sources for Missouri and its residents."
The route will run through Adair, Knox,
Lewis, Marion and Schuyler counties in Missouri and will include construction of the
Zachary Substation adjacent to the existing Adair Substation in
Adair County. Nearly 100 percent
of the transmission line will be co-located on existing rights of
way. Specifically, the route will co-locate on existing right of
way on Northeast Missouri Electric Power Cooperative's (Northeast
Power) 161,000-volt line between Palmyra and Kirksville and Ameren Missouri's 161,000-volt
line from Kirksville to the
Iowa border.
ATXI expects to invest $250
million in the Mark Twain Transmission Project. Construction
of the project is planned to begin in April
2018 with a targeted in-service date of December 2019.
"We look forward to continuing our work with Northeast Power,
landowners, community members, county commissioners and various
local and state agencies as this necessary project moves forward,"
said Schukar.
Visit www.MarkTwainTransmission.com for additional
information.
About Ameren Corporation
St.
Louis-based Ameren Corporation powers the quality of life
for 2.4 million electric customers and more than 900,000 natural
gas customers in a 64,000-square-mile area through its Ameren
Missouri and Ameren Illinois rate-regulated utility subsidiaries.
Ameren Illinois provides electric distribution and transmission
service, as well as natural gas distribution service, while Ameren
Missouri provides vertically integrated electric service, with
generating capacity of over 10,200 megawatts, and natural gas
distribution service. Ameren Transmission Company of Illinois (ATXI) is a subsidiary of Ameren
Corporation and develops regional electric transmission projects.
For more information, visit Ameren.com, or follow us at
@AmerenCorp, Facebook.com/AmerenCorp, or
LinkedIn/company/Ameren.
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, strategies, 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
Corporation's Annual Report on Form 10-K for the year ended
December 31, 2016, 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, including any
changes in regulatory policies and ratemaking determinations, such
as those that may result from the complaint case filed in
February 2015 with the Federal Energy
Regulatory Commission seeking a reduction in the allowed base
return on common equity under the Midcontinent Independent System
Operator, Inc. tariff, and future regulatory, judicial, or
legislative actions that change regulatory recovery
mechanisms;
- the effects of changes in federal, state, or local laws and
other governmental actions, including monetary, fiscal, and energy
policies;
- the effectiveness of our risk management strategies;
- business and economic conditions, including their impact on
interest rates, collection of our receivable balances, and demand
for our products;
- disruptions of the capital markets, deterioration in credit
metrics of the Ameren companies, 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;
- the construction, installation, performance, and cost recovery
of transmission assets;
- the effects of our increasing investment in electric
transmission projects, our ability to obtain all of the necessary
approvals to complete the projects, and the uncertainty as to
whether we will achieve our expected returns in a timely
manner;
- the effects of strategic initiatives, including mergers,
acquisitions, and divestitures;
- the inability of our counterparties to meet their obligations
with respect to contracts, credit agreements, and financial
instruments;
- legal and administrative proceedings; 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 Corporation