St. Louis, August 2, 2010 — Ameren Corp. formed new subsidiary dedicated to electric transmission infrastructure investment, expanding Ameren’s already robust transmission system of more than 7,400 circuit miles of high-voltage transmission lines in Missouri and Illinois.
The company has identified more than $3 billion of transmission investment opportunities that could be completed in the two states over the next 10 to 15 years.
Ameren also filed a petition with the Federal Energy Regulatory Commission for pre-approval of certain rate treatments for its proposed initial portfolio of transmission projects, the Grand Rivers projects, a collection of high voltage transmission projects in Missouri and Illinois representing a combined investment opportunity of over $1.3 billion.
The rate treatments from the FERC are expected to provide a financial structure required for ATX to move forward with strengthening the transmission system on which our region and nation depend. Similar treatments have already been granted by the FERC for similar transmission investments.
“ATX will invest in transmission that will improve reliability, improve access to renewable energy resources, enhance the efficiency of regional energy markets, help pave the way to a smarter grid, and bring significant jobs and other economic benefits to the region,” said Thomas R. Voss, chairman, president and chief executive officer of Ameren Corp.
“We expect the investments of this new company to make our region even more attractive to commerce and industry,” he added. “Ameren has long been recognized as having a strategic strength in transmission infrastructure, due, in part, to the geographic position and scope of the existing transmission assets owned by its utility companies. The creation of a separately chartered transmission company highlights our strategic focus on transmission development.”
While Ameren’s regulated local electric utilities will continue to own existing transmission facilities and related new assets, ATX will invest in, and own, new major transmission projects.
This new structure continues to support Ameren’s integrated transmission system, providing coordinated management of all transmission facilities across Ameren companies’ 64,000-square-mile service territory.