|By PR Newswire||
|November 19, 2012 10:43 AM EST||
ST. LOUIS, Nov. 19, 2012 /PRNewswire/ -- Ameren Transmission Company of Illinois (ATXI), a wholly owned subsidiary of Ameren Corporation (NYSE: AEE), received important regulatory approval from the Federal Energy Regulatory Commission (FERC) to continue to move its Spoon River and Mark Twain transmission construction projects forward. FERC approved similar regulatory treatment for the Illinois Rivers transmission project in May 2011.
The three projects are part of the $1.3 billion multi-value projects approved by the Midwest Independent Transmission System Operator Inc. (MISO) board in December 2011. MISO is a regional transmission organization serving an 11-state region, including the service territories of the Ameren utilities, and the Canadian province of Manitoba.
"We are very pleased with FERC's approvals of the incentive regulatory treatment," said Maureen Borkowski, president and CEO of ATXI. "This approval paves the way for important new investment by Ameren Transmission Company of Illinois to deliver renewable energy in the Midwest, promote electric power reliability, lower costs for consumers by reducing transmission congestion and create jobs which are important to the economy."
FERC's approved regulatory treatment includes enhanced cost-recovery mechanisms and protections for Ameren Transmission Company of Illinois that support the investments and facilitate the cost-effective financing of the projects.
"Growth in our transmission business is a key part of our corporate strategy. This FERC approval is an important milestone in implementing this strategy," said Thomas R. Voss, chairman, president and CEO of Ameren Corporation.
ATXI Project Facts
The Spoon River project in Illinois, preliminarily estimated to cost $208 million, will span approximately 70 miles of new 345-kilovolt transmission line from Oak Grove to Galesburg, Ill., continuing near Peoria, Ill.
The Mark Twain project in Missouri, preliminarily estimated to cost $155 million, will span approximately 90 miles in Missouri of new 345-kilovolt transmission line from the Iowa border to Adair, Mo., on to Palmyra, Mo.
The Illinois Rivers project, preliminarily estimated to cost $1 billion, will span approximately 400 miles with a new 345-kilovolt transmission line, crossing the Mississippi River near Quincy, Ill., continuing east across Illinois to the Indiana border. ATXI has filed a petition with the Illinois Commerce Commission (ICC) for a certificate to build the Illinois Rivers project. ATXI expects the ICC to issue a decision by mid-2013.
The recent FERC order also approved forward-looking formula rates for Ameren Illinois Company's transmission facilities. The primary benefit of a forward-looking formula rate is to provide timely cash flows in order to be able to efficiently finance investments.
Statements in this release not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, strategies, objectives, events, conditions, and financial performance. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. The following factors, in addition to those discussed under Risk Factors in Ameren's Form 10-K for the year ended December 31, 2011, and in the Form 10-Q for the quarter ended September 30, 2012, and elsewhere in this release and in our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:
- regulatory, judicial, or legislative actions, including changes in regulatory policies and recovery mechanisms and ratemaking determinations;
- changes in laws and other governmental actions, including monetary, fiscal, and tax policies;
- the effects of increased competition in the future due to, among other things, deregulation of certain aspects of our business at both the state and federal levels, and the implementation of deregulation;
- increasing capital expenditure and operating expense requirements and our ability to recover these costs;
- the level and volatility of future prices for power in the Midwest;
- the development of a multi-year capacity market within MISO and the outcomes of MISO's inaugural annual capacity auction in 2013;
- business and economic conditions, including their impact on interest rates, bad debt expense, and demand for our products;
- disruptions of the capital markets, deterioration in our credit metrics, or other events that make our access to necessary capital, including short-term credit and liquidity, impossible, more difficult, or more costly;
- our assessment of our liquidity;
- transmission asset construction, installation, performance, and cost recovery;
- the effects of our increasing investment in electric transmission projects and uncertainty as to whether we will achieve our expected returns in a timely fashion, if at all;
- the effects of strategic initiatives, including mergers, acquisitions and divestitures, and any related tax implications;
- labor disputes, workforce reductions, future wage and employee benefits costs, including changes in discount rates and returns on benefit plan assets;
- the inability of our counterparties and affiliates to meet their obligations with respect to contracts, credit facilities, and financial instruments;
- legal and administrative proceedings; and
- acts of sabotage, war, terrorism, cybersecurity attacks or intentionally disruptive acts.
Given these uncertainties, undue reliance should not be placed on these forward-looking statements. Except to the extent required by the federal securities laws, we undertake no obligation to update or revise publicly any forward-looking statements to reflect new information or future events.
St. Louis-based Ameren Corporation owns a diverse mix of electric energy centers strategically located in our Midwest market, with a generating capacity of 15,900 megawatts. Through our Missouri and Illinois subsidiaries, we serve 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area. Our mission is to meet our customers' energy needs in a safe, reliable, efficient and environmentally-responsible manner. For more information, visit Ameren.com.
SOURCE Ameren Corporation
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Aug. 1, 2015 06:30 PM EDT Reads: 143
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 1, 2015 04:45 PM EDT Reads: 477
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Aug. 1, 2015 03:15 PM EDT Reads: 318
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Aug. 1, 2015 03:00 PM EDT Reads: 513
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Aug. 1, 2015 02:45 PM EDT Reads: 449
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Aug. 1, 2015 11:15 AM EDT Reads: 172
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Aug. 1, 2015 10:30 AM EDT Reads: 213
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Aug. 1, 2015 10:00 AM EDT Reads: 292
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Aug. 1, 2015 09:45 AM EDT Reads: 391
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Aug. 1, 2015 09:45 AM EDT Reads: 131
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Aug. 1, 2015 09:45 AM EDT Reads: 188
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Aug. 1, 2015 08:00 AM EDT Reads: 307
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Aug. 1, 2015 08:00 AM EDT Reads: 1,688
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Jul. 31, 2015 11:45 PM EDT Reads: 789
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
Jul. 31, 2015 10:15 PM EDT Reads: 317