Political Win Puts Ameren Closer to $330 Million Natural Gas Investments

The Illinois Senate approved new legislation on Tuesday that would allow Ameren (NYSE: AEE  ) to invest $330 million more in its natural gas delivery system, according to an Ameren press release.

The "Natural Gas Consumer, Safety, & Reliability Act" would enable Ameren to pass some modernization costs on to consumers, accelerating upgrades to Illinois' transmission, distribution, and technology systems. According to the release, an average residential user would incur an additional penny per day in gas bills for the next ten years.

"This plan enhances our ability to meet the current and future needs of our gas customers while creating 150 good-paying jobs and maintaining strong consumer protections," said Ameren Illinois CEO and President Richard Mark in a statement. "It is a win for Illinois customers, businesses and labor."

Although the Senate has passed the act, it now heads to Governor Pat Quinn's desk for final approval. The governor recently vetoed a smart grid bill, noting that he was "disappointed that the General Assembly did not protect consumers from overreaching by utility monopolies like ComEd and Ameren." The veto was overturned last week by the state's House of Representatives.


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2456610, ~/Articles/ArticleHandler.aspx, 12/20/2014 11:40:40 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement