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4-Traders Homepage  >  Equities  >  Nyse  >  Ameren Corp    AEE

Delayed Quote. Delayed  - 09/28 10:01:35 pm
50.36 USD   -0.40%
09/23 AMEREN : Illinois to accelerate upgrades to electricity grid
09/22 AMEREN : Delays at Prairie Dell Road Project
09/20 AMEREN : Illinois encourages safety this harvest season
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Ameren : Illinois to accelerate upgrades to electricity grid

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09/23/2016 | 07:13pm CEST

The Illinois Commerce Commission (ICC) approved Ameren Illinois' plans to accelerate upgrades to its electric grid, an effort that has already resulted in more than 235,300 fewer outages and saved customers an estimated $46 million each year. Yesterday's ICC order will enable Ameren Illinois to accelerate its smart meter deployment and install new meters at all customer premises by 2019.

Ameren Illinois, a subsidiary of Ameren Corporation (NYSE: AEE), launched its grid improvement initiative in 2012 after the state passed the Energy Infrastructure Modernization Act (EIMA). The landmark legislation enables the company to recover the costs of capital for infrastructure improvements and enhancements to the electric distribution system.

Under the modernization plan, Ameren Illinois has installed storm-resistant utility poles, stronger power lines, and outage detection technology in communities throughout central and southern Illinois. In addition, more than 345,000 customers have received new two-way meters that facilitate access to energy-saving tools and programs.

'We're grateful to have earned the Commission's continued confidence in our long-term plan to build a stronger energy grid,' said Craig Nelson, senior vice president, Regulatory Affairs and Financial Services for Ameren Illinois. 'Today's decision ensures that all of our customers will have access to technology to help them manage their energy use and save money on their utility bills.'

Over time, customers with a smart meter will be able to view energy usage online and to participate in pricing options and programs. In one example of a cost-savings program enabled by smart meters, more than 7,000 customers voluntarily used less electricity during two high-demand, or 'peak,' high-temperature days in August and September. These customers earned bill credits ranging from a few dollars up to $63.

'The state is supportive of the smart grid initiative because we're not only making critical enhancements to an aging energy infrastructure and creating thousands of new jobs, we're also enabling our customers to take control of their energy costs,' Nelson said.

To learn more about Ameren Illinois' electric and natural gas modernization programs, visit AmerenIllinois.com/focus, Facebook.com/AmerenIllinois, and Twitter @AmerenIllinois.

About Ameren Illinois

Ameren Illinois delivers energy to 1.2 million electric and 816,000 natural gas customers in downstate Illinois, and our mission is to power the quality of life. Our service territory covers more than 1,200 communities and 43,700 square miles. For more information, visit AmerenIllinois.com. Follow us on Twitter @AmerenIllinois and Facebook.

###

Ameren Corporation published this content on 23 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 September 2016 17:13:05 UTC.

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Financials ($)
Sales 2016 6 238 M
EBIT 2016 1 341 M
Net income 2016 621 M
Debt 2016 7 974 M
Yield 2016 3,42%
P/E ratio 2016 19,83
P/E ratio 2017 18,61
EV / Sales 2016 3,25x
EV / Sales 2017 3,23x
Capitalization 12 268 M
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 52,8 $
Spread / Average Target 4,4%
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Warner L. Baxter Chairman, President & Chief Executive Officer
Martin J. Lyons Chief Financial Officer & Executive Vice President
James Clarence Johnson Independent Director
Gayle P. W. Jackson Independent Director
Walter J. Galvin Lead Independent Director
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