The Missouri Public Service Commission approved Ameren Missouri’s new large‑load‑user rate structure, a regulatory decision that allows high‑usage customers—such as data centers and advanced manufacturing facilities—to pay a fair share of grid enhancements and energy costs.
The approved plan requires new large‑load businesses to pay 100 % of direct interconnection costs upfront and to provide financial security equivalent to two years of minimum monthly bills. It also incorporates consumer‑protection measures aligned with Missouri Senate Bill 4, ensuring that existing customers are not adversely affected while the company expands its service base.
By enabling reliable, affordable service for large‑load customers, the PSC decision supports Missouri’s economic growth strategy and positions Ameren to capture up to 2 GW of new demand by 2032. The approval strengthens Ameren’s regulatory certainty, facilitating the company’s multi‑billion‑dollar infrastructure investment plan and reinforcing its long‑term growth trajectory.
Michael Moehn, interim chairman and president of Ameren Missouri, said the plan “is built on a simple principle: Missouri is an attractive state for economic development, and all customers deserve reliable service as well as just and reasonable rates.” Senior vice president Ajay Arora added that the plan “is about powering growth while investing in grid resiliency in a sustainable manner,” and chairman Mark Birk noted that “these agreements are an initial step; work remains with key stakeholders to secure these customers and provide benefits to our communities.”
Ameren Corporation’s Q3 2025 results, released the same day, showed adjusted earnings per share of $2.17 versus an estimate of $2.08—a beat of $0.09 or 4.3 %. Revenue rose to $2.70 billion from an estimate of $2.48 billion, a beat of $0.22 billion or 8.9 %. The company raised its full‑year 2025 guidance, reflecting confidence in continued demand and effective cost control. The earnings beat was driven by strong demand in the large‑load segment, disciplined operating costs, and a favorable mix shift toward higher‑margin industrial customers.
The PSC approval signals regulatory certainty for Ameren’s planned investments in transmission, distribution, and generation capacity. By ensuring that large‑load customers contribute to the costs of the infrastructure they use, Ameren protects existing ratepayers while positioning itself to capture significant new demand, thereby supporting both the company’s financial performance and Missouri’s broader economic development goals.
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