Ameren Corporation (NYSE: AEE) has issued a new report, Building a Cleaner Energy Future, a comprehensive look at the steps the company is taking to meet its obligation to provide safe, reliable and affordable energy in an environmentally responsible manner to its customers and the communities it serves while effectively balancing climate-related risks. The report is available at Ameren.com/Sustainability.
Ameren's strategy for addressing climate risk, which is largely embedded in Ameren Missouri's comprehensive Integrated Resource Plan (IRP), is expected to deliver significant reductions in carbon emissions while effectively managing and balancing key climate risks (including policy, legal, physical, reputational and financial risks) with customer costs and reliability.
Highlights of the report include:
- How Ameren is transitioning its generation fleet to cleaner resources to achieve a goal of an 80 percent reduction in carbon emissions by 2050, as compared to 2005 levels.
- How execution of the IRP is consistent with the 2 degree Celsius goal contemplated by the Paris Agreement.
- How more stringent emission reduction requirements could affect Ameren's plan.
"We are executing a comprehensive and balanced strategy that will meet the long-term energy needs of our customers in a safe, reliable and cost-effective manner, while significantly reducing carbon emissions and managing other key risks," said Warner L. Baxter, chairman, president and chief executive officer of Ameren Corporation. "Looking ahead, we will continue to invest in critical energy infrastructure and foster innovation as we remain focused on building a brighter and cleaner energy future for our customers, the communities we serve and our country."
A key component of the plan is the transition of Ameren Missouri's generation portfolio to cleaner and more diverse sources of generation in a responsible fashion, including the addition of at least 700 megawatts (MW) of new wind generation by 2020 and 100 MW of solar generation by 2027. Ameren Missouri has already entered into agreements to acquire, after construction, two wind generation facilities for 400 MW and up to 157 MW. The Missouri Public Service Commission has approved the acquisition of both facilities. In addition, Ameren Missouri plans to retire its 832 MW fossil-fuel-fired Meramec Energy Center in 2022.
"We are committed to do our part to protect and preserve the environment," said Gwen Mizell, senior director of Corporate Social Responsibility at Ameren. "This report details our robust and thoughtful plan that will deliver results to benefit our customers and other stakeholders for generations."