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Rush Island Securitization

The Rush Island Energy Center is set to retire in October 2024. The investments made there are scheduled to be repaid over the next 15 years.

Reinvesting in Reliability

Much like a home mortgage, Ameren Missouri is looking to refinance those investments, saving approximately $76 million that will be reinvested in new ways to meet today's customer expectations, including:

  • Increasing reliability
  • Upgrading the energy grid
  • Investing in a balanced mix of energy sources to reach net-zero goals.

How it Works

In 2021, Missouri lawmakers overwhelmingly passed legislation creating a process called securitization. It was supported by a wide variety of stakeholders. Several other energy companies have already completed securitization filings.

With approval from the Missouri Public Service Commission (MoPSC), Ameren Missouri can refinance its investments – by issuing bonds – lowering the overall cost of repayment.

 

Frequently Asked Questions

As filed with the MoPSC, Ameren Missouri customers are expected to save approximately $76 million over a 15-year period versus standard rates. That money will be reinvested in new ways to meet today’s customer expectations, including increasing reliability, upgrading the energy grid and investing in a balanced mix of energy sources to reach net-zero goals.
Ameren Missouri filed our request with the MoPSC in November 2023. The MoPSC will evaluate the request and solicit feedback from stakeholders through an open and transparent process. We anticipate a decision by mid-2024.
Should the plan be approved by the MoPSC, the bonds are expected to be issued within about a year of the final ruling.
If approved, a newly created special purpose entity will be created to issue the bonds. It will have no other assets other than the securitized property, which in this case is the Rush Island Energy Center.
Securitization legislation is a tool in the toolbox intended to address costs associated with retiring assets – including the Rush Island Energy Center – or in extraordinary circumstances, including response to extreme weather.
Ameren Missouri’s plan to integrate a new, diverse mix of generation sources while maintaining the availability of our existing energy centers through retirement is essential for a reliable, resilient and affordable clean energy future.
In general, most of Ameren Missouri’s investments are part of either the Energy or Customer Charge line of your energy statement. If this securitization filing is approved, charges related to the Rush Island Energy Center would be removed from other areas of the energy statement and a new line item will appear on energy statements detailing the reduced costs related to financing of the bond charges.
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