Ameren Missouri updates generation strategy to boost investment and jobs

Reuters
14 Feb
Ameren Missouri updates generation strategy to boost investment and jobs

Feb 14 (Reuters) - U.S. energy firm Ameren's AEE.N Missouri unit said on Friday that it had made significant changes to its strategy to accelerate investment in generation, bolster reliability and create jobs.

The change aims to provide for 1.5 gigawatts (GW) of expected new demand by 2032 with a balanced mix of generation resources, the company said in a statement.

It said it had filed a $16.2 billion, five-year energy plan with the Missouri Public Service Commission, the state's utility regulator, to invest in modern infrastructure, enhancing grid reliability and resilience to support new generation.

In the updated plan, the company said it plans to build 1,600 megawatts of natural gas-fired generation, 2,700 MW of wind and solar, 1,000 MW of battery storage by 2030, and 1,500 MW of new nuclear energy by 2045.

Meanwhile, Ameren on Thursday reported lower-than-expected fourth-quarter net profit due to higher interest and operating expenses.

Ameren Missouri has been significantly investing in grid infrastructure upgrades, leading to increased borrowing and higher interest payments.

(Reporting by Noel John in Bengaluru; Editing by Kevin Liffey)

((Noel.John@thomsonreuters.com;))

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