Ameren Corporation

09/26/2023 | Press release | Distributed by Public on 09/26/2023 06:07

Material Event - Form 8-K

ITEM 8.01 Other Events.

On September 26, 2023, Union Electric Company, doing business as Ameren Missouri ("Ameren Missouri"), filed its non-binding integrated resource plan ("2023 IRP") with the Missouri Public Service Commission ("MoPSC"). The 2023 IRP includes Ameren Missouri's preferred plan for meeting customers' projected long-term energy needs in a manner that maintains system reliability and customer affordability while transitioning in an environmentally responsible manner. The plan reflects significant investments in natural gas, renewable, and other clean dispatchable generation resources, as well as battery storage while retiring coal and natural gas-fired energy centers. Specifically, the 2023 IRP includes:

· The addition of an 800-megawatt ("MW") natural gas simple-cycle energy center by 2027 and an additional 1,200-MW natural gas combined-cycle energy center by 2033, representing investment opportunities of $0.8 billion and $1.7 billion, respectively;
· The addition of 2,800 MW of renewable generation by 2030 and an additional 1,900 MW by 2036, reflecting investment opportunities of $5.3 billion and $4.1 billion, respectively;
· The addition of 400 MW of battery storage by 2030 and an additional 400 MW by 2035, reflecting investment opportunities of $0.6 billion and $0.7 billion, respectively;
· The addition of 1,200 MW of other clean dispatchable generation resources by 2040 and an additional 1,200 MW by 2043;
· Advancing the retirement date of the Rush Island coal-fired energy center from 2025 to 2024;
· Extending the retirement date of the Sioux coal-fired energy center from 2030 to 2032;
· Retirement of all of Ameren Missouri's coal-fired energy centers by 2042;
· Retirement of 1,800 MW of natural gas-fired energy centers by 2040;
· The continued implementation of customer energy efficiency and demand response programs; and
· The expectation that Ameren Missouri will seek and receive Nuclear Regulatory Commission approval for an extension of the operating license for the Callaway nuclear energy center beyond its current 2044 expiration date.

In connection with the 2023 IRP filing, Ameren Corporation ("Ameren") announced that it will maintain its goal of achieving net-zero carbon emissions by 2045. To meet this goal, Ameren is targeting a 60% carbon emissions reduction by 2030 and an 85% reduction by 2040 from 2005 levels. Ameren's goals include both Scope 1 and 2 emissions, including other greenhouse gas emissions of methane, nitrous oxide and sulfur hexafluoride. Achieving these goals will be dependent on a variety of factors, including cost-effective advancements in innovative clean energy technologies and constructive federal and state energy and economic policies.