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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ameren Corp | NYSE:AEE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.46 | 0.62% | 74.36 | 74.50 | 73.67 | 74.50 | 2,636,180 | 23:44:30 |
COLLINSVILLE, Ill., July 27, 2015 /PRNewswire/ -- Ameren Illinois customers are experiencing fewer and shorter power outages as a result of electric grid upgrades the company has implemented under the state's Energy Infrastructure Modernization Act (EIMA). These reliability improvements are saving its customers an estimated $48 million each year.
Since the modernization program began in 2012, the installation of storm-resilient utility poles, automated switches, and an upgraded distribution grid have resulted in 238,000 fewer annual electricity service interruptions on average. And when customers do experience an outage, Ameren Illinois is restoring power 19 percent faster on average than in previous years.
"By all measures, the modernization plan is working for our customers and for Illinois," said Richard Mark, President of Ameren Illinois. "Reliability has improved 17 percent, outages are down and good paying jobs are being created at a time when our state sorely needs them."
More than 330 employees and an additional 1,000 contract workers have been hired to support investments in Ameren Illinois' electric system and operations. In addition, Ameren Illinois is on track to exceed its EIMA full-time equivalent job creation commitment of 450 direct, contractor, or induced jobs during its peak program year. Under EIMA, Ameren Illinois expects to invest an additional $122.2 million on system improvements in 2015 towards a total expected investment of $643 million over the 10 year life of the program.
The company also reports that it is ahead of schedule in installing advanced meters, two-way devices that will provide customers with enhanced energy usage data and access to tools and programs to help them use less energy. In 2015, Ameren Illinois plans to deploy 142,000 electric meters at customer locations in central and southern Illinois. This month, Ameren Illinois launched a suite of on-line tools to help its customers develop personalized energy savings plans.
"Today our customers have access to information that puts them firmly in control of their energy bills," said Mark. "Over time the upgrades will help us detect and isolate outages faster while giving our customers even more ways to manage their usage and contain costs."
The 2014 National Grid Modernization Index, developed by the GridWise alliance and the Smart Grid Policy Center, ranks Illinois 3rd in the nation for its grid modernization policies, investments, and activities, trailing only Texas and California. Illinois moved up from 10th place in 2013.
To learn more about Ameren Illinois' modernization program, visit AmerenIllinois.com/focus or follow the company at Facebook.com/AmerenIllinois and on Twitter @AmerenIllinois.
Forward-looking Statements
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 Illinois' Annual Report on Form 10-K for the year ended December 31, 2014, and elsewhere in this release and in our other filings with the SEC, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:
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.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ameren-illinois-grid-modernization-delivering-results-300119095.html
SOURCE Ameren Illinois
Copyright 2015 PR Newswire
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