ST. LOUIS, Sept. 6, 2017 /PRNewswire/ -- Ameren
Transmission Company of Illinois
(ATXI), a wholly owned subsidiary of Ameren Corporation (NYSE:
AEE), has selected a final route for the Mark Twain Transmission
Project, a 345,000-volt transmission line and substation to be
built in northeast Missouri. The
approximately 100-mile route, which will be nearly 100 percent
co-located on existing right of way, has received assents from the
commissions of the five counties in which the line will be located.
ATXI now must obtain final approval from the Missouri Public
Service Commission (PSC) before commencing construction.
The route will run through Adair, Knox,
Lewis, Marion and Schuyler counties and includes construction of
the Zachary Substation adjacent to the existing Adair Substation in
Adair County. 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.
"The final route was selected based on feedback from landowners
and community members during the past several months," said
Shawn E. Schukar, chairman and
president of ATXI. "We are grateful to those who took the time to
share their opinions and preferences with us, and we look forward
to working together with Northeast Power and Ameren Missouri as we
move forward with this important project for northeast Missouri."
As part of the project, approximately 59 miles of Northeast
Power's 161,000-volt transmission line – running between
Palmyra and Kirksville – will be completely rebuilt. ATXI
will remove the current wooden H-frame transmission facilities and
replace them with new steel structures, the vast majority of which
will be monopole in design. ATXI will pay for the poles, insulators
and hardware.
"Due to the age of Northeast Power's current 161,000-volt line,
it would need to be replaced within 10 to 15 years at a cost of
approximately $30 million," said
Douglas Aeilts, CEO and general
manager, Northeast Power. "Working with ATXI on this co-location
project allows Northeast Power to save a significant amount of
money while enhancing the reliability of our transmission system.
Northeast Power is committed to providing our member-distribution
cooperatives with safe, affordable, reliable electricity and
value-added services. Our involvement in this project is consistent
with that promise."
In addition, ATXI will rebuild Ameren Missouri's line between
Kirksville and the Iowa border. Landowners living along the
existing Northeast Power and Ameren Missouri lines will benefit
from less burden on farmland – due to the reduced number of poles
and the elimination of guy wires and anchors – and new easement
payments.
ATXI expects to invest approximately $250
million in this project, which is scheduled to be placed
in-service in December 2019.
In mid-September, ATXI will file for a certificate of
convenience and necessity with the Missouri Public Service
Commission for the Mark Twain Transmission Project. ATXI hopes to
receive an order of approval from the PSC in the first quarter
2018.
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.
About Northeast Power
Northeast Missouri Electric Power Cooperative (Northeast Power)
is a not-for-profit transmission electric utility owned by eight
member-distribution cooperatives – five located in northeast
Missouri and three in southeast
Iowa. Northeast Power operates as
part of a three-tiered cooperative system. The top tier is made up
of the member-distribution cooperatives that distribute electricity
directly to the member-consumers. The second tier is made up of
regional transmission cooperatives that provide wholesale power and
electric transmission services from the generating facilities to
the member-distribution cooperatives. The third tier is Associated
Electric Cooperative Inc. (Associated) – a cooperative responsible
for generation and power procurement. Together with the eight
member-distribution cooperatives and Associated, Northeast Power
provides safe, affordable, reliable and environmentally responsible
energy to nearly 56,000 member-consumers in Missouri and Iowa. Northeast Power is headquartered in
Palmyra, Missouri, with a
satellite office located near Bloomfield,
Iowa. For more information, visit
http://northeast-power.coop.
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;
- 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