ST. LOUIS, May 23, 2018 /PRNewswire/ -- Ameren Transmission Company of Illinois (ATXI) – a wholly owned subsidiary of Ameren Corporation (NYSE: AEE) – has begun construction of the Mark Twain Transmission Project, a 96-mile, 345,000-volt transmission line and substation to be built in northeast Missouri that will bolster energy reliability for the region.
Last week ATXI broke ground on the site of the Zachary Substation adjacent to the existing Adair Substation in Adair County, Missouri. The new substation will transform high-voltage electricity from the transmission system to lower-voltage electricity, which it supplies to homes and businesses through distribution lines.
"After two years of listening to and collaborating with local communities, we're delighted to begin construction on the Mark Twain Transmission Project," said Shawn Schukar, chairman and president of ATXI. "When it's complete, the project will provide multiple benefits to the people of northeast Missouri and the greater region. These project benefits include economic growth, increased tax revenue, greater energy reliability and improved access to renewable energy sources, such as wind."
Later this month ATXI's contractor, L. Keeley Construction, will begin to build various access points along the transmission corridor from nearby public roadways. Contractors will use these points to access the right of way throughout project construction. Once access points are created, L. Keeley will begin digging and pouring concrete structure foundations.
"With any construction project, our goal is to complete the work as safely and as quickly as possible," said Chuck Twellmann, ATXI construction supervisor. "As construction moves forward, we'll continue to work closely with landowners and community members to ensure the building and property-restoration process flows smoothly."
The route will run through Adair, Knox, Lewis, Marion and Schuyler counties in Missouri. Nearly 100 percent of the transmission line will be co-located on existing rights of way that include Northeast Missouri Electric Power Cooperative's 161,000-volt line between Palmyra and Kirksville and Ameren Missouri's 161,000-volt line from Kirksville to the Iowa border.
In January 2018, the Missouri Public Service Commission (PSC) granted ATXI a certificate of convenience and necessity (CCN) for the project, which will complete a critical link in the region's energy infrastructure.
ATXI expects to invest $250 million in the Mark Twain Transmission Project. The anticipated in-service date is December 2019.
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 nearly 10,300 megawatts, and natural gas distribution service. Ameren Transmission Company of Illinois develops regional electric transmission projects. For more information, visit Ameren.com, or follow us on Twitter at @AmerenCorp, Facebook.com/AmerenCorp, or LinkedIn.com/company/Ameren.
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 and elsewhere in this release and in our other filings with the SEC, 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 (FERC) seeking a reduction in the allowed base return on common equity under the Midwest Independent System Operator (MISO) tariff, and future regulatory, judicial, or legislative actions that change regulatory recovery mechanisms and the resulting impacts on our results of operations, financial position, and liquidity;
- the effects of changes in federal, state, or local laws and other governmental actions, including monetary, fiscal, and energy policies;
- disruptions of the capital markets, deterioration in credit metrics of the Ameren companies, including as a result of the implementation of the Tax Cuts and Jobs Act of 2017, 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 strategic initiatives, including mergers, acquisitions, and divestitures;
- the impact of negative opinions of us or our utility services that our customers, legislators, or regulators may have or develop, which could result from a variety of factors, including failures in system reliability, failure to implement our investment plans or protect sensitive customer information, increases in rates, or negative media coverage;
- labor disputes, work force reductions, future wage and employee benefits costs, including changes in discount rates, mortality tables, and returns on benefit plan assets;
- the inability of our counterparties to meet their obligations with respect to contracts, credit agreements, and financial instruments;
- legal and administrative proceedings;
- the impact of cyber-attacks, which could, among other things, result in the loss of operational control of energy centers and electric and natural gas transmission and distribution systems and/or the loss of data, such as customer, employee, financial, and operating system information; and
- 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.
SOURCE Ameren Corporation