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ST. LOUIS, Oct. 6, 2003 -- Ameren Corp. has announced the transfer of AmerenCILCO electric generating facilities to the non rate-regulated company -- AmerenEnergy Resources Generating Company.
The non rate-regulated company is a subsidiary of AmerenCILCO and was incorporated in Illinois in 2001 as Central Illinois Generation, Inc., in contemplation of this asset transfer. On Jan. 31, 2003, Ameren Corporation acquired CILCORP Inc.
That acquisition included CILCORP's Illinois electric and natural gas utility subsidiary -- Central Illinois Light Company -- which now operates as AmerenCILCO. After the acquisition, Central Illinois Generation, Inc. changed its name to AmerenEnergy Resources Generating Company.
The transfer has been approved by the Illinois Commerce Commission and the Federal Energy Regulatory Commission and is made possible by the Illinois Electric Service Customer Choice and Rate Relief Law of 1997, which provides for electric utility restructuring in Illinois.
The transferred AmerenCILCO assets represent approximately 1,100 megawatts of generating capacity. This power will be marketed by a non rate-regulated affiliate, AmerenEnergy Marketing Company.
Transferred assets--all in Illinois--include:
-- The 366-megawatt, Canton-based Duck Creek coal-fired plant, which began operation in 1976.
-- The 740-megawatt, Bartonville-based coal-fired E.D. Edwards Plant, which began operation in 1960.
-- The 30-megawatt natural gas-fueled combustion turbine generating units located on Sterling Avenue in Peoria.
The transfer of these assets is not expected to have a negative impact on the employees at the transferred facilities or to existing electric customers of AmerenCILCO. Creation of the subsidiary does not change prices or the quality of service for these customers.
AmerenCILCO has in place a long-term power purchase agreement with the new generating company, which will provide energy supply reliability and energy price stability. Bundled electric rates are frozen at current levels through Dec. 31, 2006.
With assets of $13.5 billion, Ameren owns a diverse mix of electric generating plants strategically located in its Midwest market with a capacity of more than 14,600 megawatts. Ameren serves 1.7 million electric customers and 500,000 natural gas customers in a 49,000 square-mile area of Missouri and Illinois.
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