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Ameren

Ameren Corporation (NYSE: AEE) is a public utility holding company.

Company Description

Ameren Corporation is a public utility holding company operating in Missouri and Illinois doing business in rate-regulated electric generation, transmission, and distribution. Ameren (AEE) is also in the rate-regulated natural gas transmission and distribution business and the non-rate-regulated electric generation business. Founded in 1881, AEE is headquartered in St. Louis, Missouri.

The company was previously known as Union Electric Company. It is the electric utility in the St. Louis areas. It also served other areas of Missouri and Illinois via a series of subsidiaries.

The company operates the Calloway Nuclear Power Plant near Fulton, MO. It has recently applied for permits for a second nuclear plant at the Calloway site.

Ameren is primarily an operator of coal fired power plants, especially Labadie and Portage de Sioux. It also operates a hydroelectric facility at Bagnel Dam in Missouri, the dam for the Lake of the Ozarks, a major recreational lake located in southwest Missouri. According to a Newcomen Society presentation from 1947, Ameren also owns and operates the only hydroelectric power plant across the Mississippi River located at Keokuk, Iowa. The plant was built in 1911, and is one of the first constructed after the Niagara Falls hydroelectric project.

At Tom Sauk Mountain, highest point in Missouri, Ameren operated an energy storage/regeneration facility where water was pumped into a reservoir on top of the mountain at night and then converted back into electricity during peak demand hours usually in daytime. The facility operated successfully for over 40 years, but in '05, the remotely operated facility overfilled the reservoir until it overflowed and collapsed. No one was injured, but a state park below was destroyed. Efforts are underway to reconstruct the facility.

Booklet: “St. Louis and the Union Electric Company,” by J.W. McAfee, The Newcomen Society of England, American Branch, NY, 1947. See the review posted on Motley Fool's Books--Non-fiction discussion board. [1]

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