$120 Million in incentives and rebates available
ST. LOUIS, April 8, 2019 /PRNewswire/ -- Ameren Missouri electric customers now have new, innovative ways to reduce their energy usage and save money on their energy statements without sacrificing comfort. Customers can begin to take advantage of $120 million in incentives and rebates at AmerenMissouriSavings.com.
"The power to control energy use is as easy as the flip of a switch or the turn of a dial," said Michael Moehn, president of Ameren Missouri, a subsidiary of Ameren Corporation (AEE). "Every one of our customers has multiple opportunities to save. This is the broadest, most comprehensive energy savings program in the state."
Ameren Missouri has 26 energy efficiency programs designed specifically to help residential and business customers reduce energy costs. The options include 15 all-new programs, with $50 million allocated for income-eligible customers and social service agencies.
"Reducing customers' energy costs can help ease financial stress, keep homes more comfortable, and allow social service agencies to devote a larger amount of their resources to the great work they're doing to improve our community," said Matt Forck, assistant vice president of community, economic development and energy solutions at Ameren Missouri.
One program, Peak Time Savings gives residential customers a $50 sign-up bonus plus a $25 check each summer to participate in the program. Other programs allow customers to take advantage of savings on new energy-efficient equipment for their home or business and long-term energy savings over the life of that equipment.
"Being more efficient with energy use is good for our environment. The total reduction in carbon emissions from targeted energy savings is the equivalent of removing 126,500 cars from the road and will help achieve our goal of reducing carbon emissions by 80 percent by 2050," Moehn said.
Ameren Missouri expects to invest $226 million over the life of the energy efficiency programs, which in turn would provide $592 million in benefits for customers. The income-eligible and social service agency programs will be available through December 2024. All other programs will be available through December 2021.
In addition to new energy efficiency programs to help customers save, Ameren Missouri's recently announced Smart Energy Plan includes a freeze on base electric rates until April 2020 and rate caps to limit the size of any future rate increases.
Ameren Missouri has been providing electric and gas service for more than 100 years, and the company's electric rates are among the lowest in the nation. Ameren Missouri's mission is to power the quality of life for its 1.2 million electric and 127,000 natural gas customers in central and eastern Missouri. The company's service area covers 64 counties and more than 500 communities, including the greater St. Louis area. For more information, visit Ameren.com/Missouri or follow us on Twitter at @AmerenMissouri or Facebook.com/AmerenMissouri.
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 within Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2018, and elsewhere in this release and in our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:
- regulatory, judicial, or legislative actions, and any changes in regulatory policies and ratemaking determinations, , and future regulatory, judicial, or legislative actions that change regulatory recovery mechanisms;
- the effect of Missouri Senate Bill 564 on Ameren Missouri, including as a result of Ameren Missouri's election to use plant-in-service accounting and the resulting customer rate caps;
- the effects of changes in federal, state, or local laws and other governmental actions, including monetary, fiscal, and energy policies;
- the effects of changes in federal, state, or local tax laws, regulations, interpretations, or rates, amendments or technical corrections to the Tax Cuts and Jobs Act of 2017 (TCJA), and challenges to the tax positions we have taken;
- the effects on demand for our services resulting from technological advances, including advances in customer energy efficiency, energy storage, and private generation sources, which generate electricity at the site of consumption and are becoming more cost-competitive;
- the effectiveness of Ameren Missouri's customer energy-efficiency programs and the related revenues and performance incentives earned under its Missouri Energy Efficiency Investment Act programs;
- the cost and availability of fuel, such as ultra-low-sulfur coal, natural gas, and enriched uranium, used to produce electricity; the cost and availability of purchased power, zero emission credits, renewable energy credits, and natural gas for distribution; and the level and volatility of future market prices for such commodities and credits, including our ability to recover the costs for such commodities and credits and our customers' tolerance for any related price increases;
- the effectiveness of our risk management strategies and our use of financial and derivative instruments;
- the impact of cyberattacks on us or our suppliers, which could, among other things, result in the loss of operational control of energy centers and electric and natural gas transmission and distribution systems and/or the loss of data, such as customer, employee, financial, and operating system information;
- business and economic conditions, including their impact on interest rates, collection of our receivable balances, and demand for our products;
- disruptions of the capital markets, deterioration in our credit metrics, including as a result of the implementation of the TCJA, or other events that may have an adverse effect on the cost or availability of capital, including short-term credit and liquidity;
- the actions of credit rating agencies and the effects of such actions;
- the inability of our counterparties to meet their obligations with respect to contracts, credit agreements, and financial instruments;
- the impact of weather conditions and other natural phenomena on us and our customers, including the impact of system outages;
- the construction, installation, performance, and cost recovery of generation, transmission, and distribution assets;
- the effects of breakdowns or failures of electric generation, transmission, or distribution equipment or facilities, which could cause unplanned liabilities or outages;
- the operation of Ameren Missouri's Callaway energy center, including planned and unplanned outages, and decommissioning costs;
- the impact of current environmental laws and new, more stringent, or changing requirements, including those related to carbon dioxide and the proposed repeal and replacement of the Clean Power Plan and potential adoption and implementation of the Affordable Clean Energy rule, other emissions and discharges, cooling water intake structures, coal combustion residuals, and energy efficiency, that could limit or terminate the operation of certain of Ameren Missouri's energy centers, increase our operating costs or investment requirements, result in an impairment of our assets, cause us to sell our assets, reduce our customers' demand for electricity or natural gas, or otherwise have a negative financial effect;
- the impact of complying with renewable energy requirements in Missouri;
- Ameren Missouri's ability to acquire wind and other renewable generation facilities and recover its cost of investment and related return in a timely manner, which is affected by the ability to obtain all necessary project approvals; the availability of federal production and investment tax credits related to renewable energy and Ameren Missouri's ability to use such credits; the cost of wind and solar generation technologies; and Ameren Missouri's ability to obtain timely interconnection agreements with MISO or other regional transmission organizations, including the costs of such interconnections;
- labor disputes, work force reductions, changes in future wage and employee benefits costs, including those resulting from changes in discount rates, mortality tables, returns on benefit plan assets, and other assumptions;
- the impact of negative opinions of us or our utility services that our customers, legislators, or regulators may have or develop, which could result from a variety of factors, including failures in system reliability, failure to implement our investment plans or to protect sensitive customer information, increases in rates, or negative media coverage;
- the impact of adopting new accounting guidance;
- the effects of strategic initiatives, including mergers, acquisitions, and divestitures;
- legal and administrative proceedings; and
- acts of sabotage, war, terrorism, or other intentionally disruptive acts.