Ameren Missouri files $8.4B plan to invest in grid modernization
Ameren Missouri submitted an updated $8.4 billion Smart Energy Plan with the Missouri Public Service Commission that supports grid modernization efforts over the next five years.
The plan includes installing more than 1 million smart meters, more renewable generation, and infrastructure upgrades that bolster reliability. It also 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 prevent outages during severe weather.
“The Smart Energy Plan is preparing our region for the future while making energy more reliable for families and businesses today,” Marty Lyons, president of Ameren Missouri, said. “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.”
The new smart electric 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 the summer of 2020 and will continue through 2024 when 1.2 million electric meters are installed.
Ameren Missouri also recently acquired two wind facilities and is now the largest operator of wind generation in the state. The company plans to expand its wind and solar generation over the coming years. Through the upgrades to the electric grid, Ameren Missouri has been able to keep rates stable and below the average electric rates in the Midwest.
“The Smart Energy Plan is about building a better energy grid that will serve our customers for many decades,” Lyons said. “It’s an important step on our path to leading the way to a more sustainable energy future.”