(MENAFNEditorial) ST. LOUIS, Sept. 6, 2017 /PRNewswire/ --Ameren Transmission Company of Illinois (ATXI), a wholly owned subsidiary of Ameren Corporation (NYSE: AEE), has selected a final route for the Mark Twain Transmission Project, a 345,000-volt transmission line and substation to be built in northeast Missouri. The approximately 100-mile route, which will be nearly 100 percent co-located on existing right of way, has received assents from the commissions of the five counties in which the line will be located. ATXI now must obtain final approval from the Missouri Public Service Commission (PSC) before commencing construction.
The route will run through Adair, Knox, Lewis, Marion and Schuyler counties and includes construction of the Zachary Substation adjacent to the existing Adair Substation in Adair County. Specifically, the route will co-locate on existing right of way on Northeast Missouri Electric Power Cooperative's (Northeast Power) 161,000-volt line between Palmyra and Kirksville and Ameren Missouri's 161,000-volt line from Kirksville to the Iowa border.
"The final route was selected based on feedback from landowners and community members during the past several months," said Shawn E. Schukar, chairman and president of ATXI. "We are grateful to those who took the time to share their opinions and preferences with us, and we look forward to working together with Northeast Power and Ameren Missouri as we move forward with this important project for northeast Missouri."
As part of the project, approximately 59 miles of Northeast Power's 161,000-volt transmission line – running between Palmyra and Kirksville – will be completely rebuilt. ATXI will remove the current wooden H-frame transmission facilities and replace them with new steel structures, the vast majority of which will be monopole in design. ATXI will pay for the poles, insulators and hardware.
"Due to the age of Northeast Power's current 161,000-volt line, it would need to be replaced within 10 to 15 years at a cost of approximately $30 million," said Douglas Aeilts, CEO and general manager, Northeast Power. "Working with ATXI on this co-location project allows Northeast Power to save a significant amount of money while enhancing the reliability of our transmission system. Northeast Power is committed to providing our member-distribution cooperatives with safe, affordable, reliable electricity and value-added services. Our involvement in this project is consistent with that promise."
In addition, ATXI will rebuild Ameren Missouri's line between Kirksville and the Iowa border. Landowners living along the existing Northeast Power and Ameren Missouri lines will benefit from less burden on farmland – due to the reduced number of poles and the elimination of guy wires and anchors – and new easement payments.
ATXI expects to invest approximately $250 million in this project, which is scheduled to be placed in-service in December 2019.
In mid-September, ATXI will file for a certificate of convenience and necessity with the Missouri Public Service Commission for the Mark Twain Transmission Project. ATXI hopes to receive an order of approval from the PSC in the first quarter 2018.
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About Ameren Corporation
St. Louis-based Ameren Corporation powers the quality of life for 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric distribution and transmission service, as well as natural gas distribution service, while Ameren Missouri provides vertically integrated electric service, with generating capacity of over 10,200 megawatts, and natural gas distribution service. Ameren Transmission Company of Illinois (ATXI) is a subsidiary of Ameren Corporation and develops regional electric transmission projects. For more information, visit , or follow us at , , or .
About Northeast Power
Northeast Missouri Electric Power Cooperative (Northeast Power) is a not-for-profit transmission electric utility owned by eight member-distribution cooperatives – five located in northeast Missouri and three in southeast Iowa. Northeast Power operates as part of a three-tiered cooperative system. The top tier is made up of the member-distribution cooperatives that distribute electricity directly to the member-consumers. The second tier is made up of regional transmission cooperatives that provide wholesale power and electric transmission services from the generating facilities to the member-distribution cooperatives. The third tier is Associated Electric Cooperative Inc. (Associated) – a cooperative responsible for generation and power procurement. Together with the eight member-distribution cooperatives and Associated, Northeast Power provides safe, affordable, reliable and environmentally responsible energy to nearly 56,000 member-consumers in Missouri and Iowa. Northeast Power is headquartered in Palmyra, Missouri, with a satellite office located near Bloomfield, Iowa. For more information, visit .
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 Corporation's Annual Report on Form 10-K for the year ended December 31, 2016, 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, including any changes in regulatory policies and ratemaking determinations, such as those that may result from the complaint case filed in February 2015 with the Federal Energy Regulatory Commission seeking a reduction in the allowed base return on common equity under the Midcontinent Independent System Operator, Inc. tariff, and future regulatory, judicial, or legislative actions that change regulatory recovery mechanisms; the effects of changes in federal, state, or local laws and other governmental actions, including monetary, fiscal, and energy policies; the effectiveness of our risk management strategies; 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 credit metrics of the Ameren companies, 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 construction, installation, performance, and cost recovery of transmission assets; the effects of our increasing investment in electric transmission projects, our ability to obtain all of the necessary approvals to complete the projects, and the uncertainty as to whether we will achieve our expected returns in a timely manner; the effects of strategic initiatives, including mergers, acquisitions, and divestitures; the inability of our counterparties to meet their obligations with respect to contracts, credit agreements, and financial instruments; legal and administrative proceedings; acts of sabotage, war, terrorism, or other intentionally disruptive acts. New factors emerge from time to time, and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement. 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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