ST. LOUIS, Jan. 10, 2018 /PRNewswire/ -- Ameren Transmission Company of Illinois (ATXI), a wholly owned subsidiary of Ameren Corporation (NYSE: AEE), received approval from the Missouri Public Service Commission (PSC) to proceed with the construction of the Mark Twain Transmission Project, a 100-mile, 345,000-volt transmission line and substation to be built in northeast Missouri. The PSC granted ATXI a certificate of convenience and necessity (CCN) for the project, which will run from Palmyra to Kirksville in Missouri and north to the Iowa border, completing a critical link in the region's energy infrastructure.
"Approval of the Mark Twain Transmission Project is a significant step toward strengthening our region's energy grid and delivering customer benefits," said Shawn E. Schukar, chairman and president of ATXI. "This project will deliver greater energy reliability, economic growth and improved access to clean energy sources for Missouri and its residents."
The route will run through Adair, Knox, Lewis, Marion and Schuyler counties in Missouri and will include construction of the Zachary Substation adjacent to the existing Adair Substation in Adair County. Nearly 100 percent of the transmission line will be co-located on existing rights of way. Specifically, the route will co-locate on existing right of way on Northeast Missouri Electric Power Cooperative's (Northeast Power) 161,000-volt line between Palmyra and Kirksville and Ameren Missouri's 161,000-volt line from Kirksville to the Iowa border.
ATXI expects to invest $250 million in the Mark Twain Transmission Project. Construction of the project is planned to begin in April 2018 with a targeted in-service date of December 2019.
"We look forward to continuing our work with Northeast Power, landowners, community members, county commissioners and various local and state agencies as this necessary project moves forward," said Schukar.
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 over 10,200 megawatts, and natural gas distribution service. Ameren Transmission Company of Illinois (ATXI) is a subsidiary of Ameren Corporation and develops regional electric transmission projects. For more information, visit Ameren.com, or follow us at @AmerenCorp, Facebook.com/AmerenCorp, or LinkedIn/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 for the year ended December 31, 2016, 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:
- 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 seeking a reduction in the allowed base return on common equity under the Midcontinent Independent System Operator, Inc. tariff, and future regulatory, judicial, or legislative actions that change regulatory recovery mechanisms;
- the effects of changes in federal, state, or local laws and other governmental actions, including monetary, fiscal, and energy policies;
- the effectiveness of our risk management strategies;
- business and economic conditions, including their impact on interest rates, collection of our receivable balances, and demand for our products;
- disruptions of the capital markets, deterioration in credit metrics of the Ameren companies, 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 our increasing investment in electric transmission projects, our ability to obtain all of the necessary approvals to complete the projects, and the uncertainty as to whether we will achieve our expected returns in a timely manner;
- the effects of strategic initiatives, including mergers, acquisitions, and divestitures;
- the inability of our counterparties to meet their obligations with respect to contracts, credit agreements, and financial instruments;
- legal and administrative proceedings; 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