Summary

Ameren Corp., based in St. Louis, is a public utility that serves 2.4 million electric customers and 900,000 natural gas customers through its regulated subsidiaries Ameren Missouri and Ameren Illinois. Customers are located in central and eastern Missouri and southern Illinois. Ameren Missouri offers a vertically integrated electric service, with a generation capacity of 10,800 megawatts. Ameren Illinois provides electric transmission service as well as natural gas delivery. Ameren Transmission Co. of Illinois develops regional electric transmission projects. AEE also operates a nuclear generation facility. By 2023, electricity accounted for about 83% of total revenue.

Management is committed to expanding electricity and gas service and improving infrastructure in the company’s regulated service territories. Ameren has exited the volatile unregulated commercial energy business and has shown little interest in acquiring unregulated assets. The company operates several nuclear generators, but is still heavily dependent on coal. Of the company’s generating capacity, the 2023 fuel mix is ​​approximately 44% coal, 12% nuclear, 29% natural gas/oil and 15% renewables. Management estimate