ST. LOUIS, Jan. 20, 2012 /PRNewswire/ -- Today, Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), filed with the Missouri Public Service Commission (MPSC) a three-year plan that includes an aggressive portfolio of energy efficiency programs, the largest such plan in the state of Missouri. The expenditures for the new programs will be approximately twice the size of the utility company's previous energy efficiency programs. The proposal is Ameren Missouri's first request for approval of new and expanded energy efficiency programs under the Missouri Energy Efficiency Investment Act (MEEIA).
MEEIA represents a shift in energy policy towards partnering with customers to use energy more efficiently to meet future needs. Additionally, it provides clear objectives for the state of Missouri to pursue cost-effective energy efficiency programs, while requiring the programs be designed to ensure utilities' financial incentives are aligned with helping customers use energy more efficiently.
"As utilities implement cost-effective energy efficiency programs under MEEIA it is a win-win for both customers and the utility companies," explains State Senator Brad Lager, sponsor of the MEEIA legislation. "Customers will benefit from the savings, and utilities will be appropriately reimbursed for the costs of the energy efficiency programs."
The programs include energy efficiency investments of approximately $145 million over three years, beginning early January 2013. These investments are expected to result in approximately $500 million in total customer benefits over the next 20 years. Annual energy savings are expected to be nearly 800 million kilowatthours, which is equal to the energy consumption of more than 60,000 average Missouri homes annually.
Costs and related incentives associated with this program will be reimbursed to Ameren Missouri over the next three to five years.
"Our proposed energy efficiency programs continue the significant commitment we have made to energy efficiency programs in the past," says Warner L. Baxter, chairman, president and CEO of Ameren Missouri. "Since 2009, we have spent more than $70 million on energy efficiency programs resulting in more than 550 million kilowatthours saved, which is equal to the energy consumed by more than 42,000 average homes annually. Our current proposal will result in additional significant long-term benefits for our customers and the entire state of Missouri through lower energy usage."
"Greater investments in energy efficiency and needed infrastructure are exactly the kind of investments needed to secure Missouri's energy future. Investing in energy efficiency is a critical part of ensuring that we continue to produce the affordable and reliable energy necessary to attract and retain Missouri businesses," says State Representative Steven Webb.
"Villa Lighting had great success in utilizing Ameren Missouri's program. Through the program, we were able to work with many customers to install hundreds of thousands of dollars of lighting upgrades, many of which enabled customers to reduce their lighting-related energy consumption by as much as 40 percent," notes Steve Barker, vice president of Sales, Villa Lighting Supply, Inc.
The MEEIA filing must be approved by the MPSC before it can take effect in early 2013.
Ameren Missouri has been providing electric and gas service for more than a century, and our electric rates are among the lowest in the nation. We serve 1.2 million electric and 126,000 natural gas customers in central and eastern Missouri. Our mission is to meet their energy needs in a safe, reliable, efficient and environmentally responsible manner. Our service area covers 63 counties and 500 towns, including the greater St. Louis area. For more information, visit AmerenMissouri.com.
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 our Annual Report on Form 10-K for the year ended December 31, 2010 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:
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.
SOURCE Ameren Missouri