Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), filed an updated Smart Energy Plan and budget with the Missouri Public Service Commission today. The $8.4 billion plan supports grid modernization efforts over the next five years, including the installation of more than one million smart meters, more renewable generation, programs to stimulate economic growth for communities across Missouri, and infrastructure upgrades that bolster reliability while enabling clean energy generation.
“The Smart Energy Plan is preparing our region for the future while making energy more reliable for families and businesses today,” said Marty Lyons, president of Ameren Missouri. “We have made great progress in the first two years of this plan. These upgrades provide state-of-the-art technology and support our commitment to maintaining reliability as we transition to cleaner energy, including our ambitious goal to achieve net-zero carbon emissions by 2050.”
Ameren Missouri recently completed the purchase of its first two wind facilities and is now the largest operator of wind generation in the state. The company has plans to significantly expand its wind and solar generation over the coming years.
Smarter and More Reliable Energy for Missouri Customers
As homes now double as workplaces and schools, even a short outage is critical. Currently, in its third year of implementation, the Smart Energy Plan progress includes smart technology that can rapidly detect outages and restore service in seconds, as well as new storm-resilient utility poles, power lines, and underground cables designed to protect customers from outages during severe weather.
These investments have already provided customers with more dependability throughout challenging conditions, such as the derecho wind storm that swept through parts of the Midwest this past summer, resulting in 78,000 Ameren Missouri customers without power in St. Louis County and other communities. Despite the extensive damage from the storm, new smart technology-enabled Ameren Missouri to rapidly detect which areas faced an outage and reroute power to 50,000 customers that night.
Ameren Missouri also is installing smart electric meters for all customers. The new meters provide customers with more convenience, choice, and control to choose rates that fit their lifestyles and potentially save on their energy bills. The smart meter rollout began in St. Charles County during the summer of 2020, and the company will upgrade approximately 1.2 million electric meters by 2024.
Smart Energy Plan projects are supporting Missouri’s economy by creating jobs and using local suppliers. For example, in Washington, Missouri, a new state-of-the-art substation includes transformers built by local manufacturer WEG Transformers. These transformers, built in Missouri, by Missourians, for the benefit of Ameren Missouri customers, will increase energy capacity for the area, allowing more businesses to grow and have reliable power. In total, 57% of Smart Energy Plan vendors are Missouri-based.
While upgrading the electric grid, Ameren Missouri has been able to keep rates stable and affordable for customers, with customer rates more than 20% below the average electric rates in the Midwest, according to the Edison Electric Institute’s “Typical Bills and Average Rates Report.”
Ameren Missouri’s Smart Energy Plan by the Numbers
Ameren Missouri has completed thousands of projects statewide to transform the grid and bring increased benefits to customers. This included, in 2020, the installation of:
- 200+ smart equipment switches to reduce outages from hours to minutes and even seconds. This technology has improved reliability by up to 40%.
- 14 new or upgraded substations to better serve communities.
- 133,000 smart meters deliver more precise energy use information to customers and offer flexibility to pay less when demand for energy is lower.
Last year’s investments in infrastructure will result in an estimated $10 million in increased tax revenue for local communities in 2021.
“The Smart Energy Plan is about building a better energy grid that will serve our customers for many decades,” said Lyons. “It’s an important step on our path to leading the way to a more sustainable energy future.”
