Company: AILIM
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001002910-25-000129
Chunk: 50

Company: Ameren Illinois Co
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 50
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 market prices for power, Ameren Missouri’s purchased power costs may increase and the amount of excess power available for sale may decrease versus non-outage years. Changes in purchased power costs and excess power available for sale are included in the FAC, which results in limited impacts to earnings. In addition, Ameren Missouri may incur increased non-nuclear energy center maintenance costs in non-outage years.

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•In late 2024 three turbines at the High Prairie Energy Center collapsed, resulting in significantly reduced operation of the energy center. While the investigation into the cause of the collapse is ongoing, a large majority of the turbines at the energy center have returned to operation, and work is ongoing to restore the remaining turbines.

•In April 2025, the MISO released the results of its annual capacity auction, which included a fall capacity price decrease in certain portions of the central region of the MISO footprint, where Ameren Missouri’s service territory is located. Fall capacity prices decreased from $720 per MW-day in 2024 to $92 per MW-day in 2025. Based on the capacity prices set by the April 2025 MISO auction, Ameren Missouri estimates decreases to capacity revenues and purchased power costs in the fourth quarter of 2025, compared to the fourth quarter of 2024, of approximately $290 million. Ameren Missouri sells nearly all of its capacity to the MISO and purchases the capacity it needs to supply its native load sales from the MISO. Ameren Missouri’s capacity revenues and purchased power costs are a part of the net energy costs recoverable under the FAC, with 95% of the variance between net energy costs and the amount set in base rates recovered or refunded through the FAC.

•Ameren Missouri and Ameren Illinois continue to make infrastructure investments and expect to seek increases to electric and natural gas rates to recover the cost of investments and earn an adequate return. Ameren Missouri and Ameren Illinois will also seek new, or to maintain existing, regulatory and legislative solutions to address regulatory lag and to support investment in their utility infrastructure for the benefit of their customers. Ameren Missouri and Ameren Illinois continue to face cost recovery pressures, higher cost of debt, customer conservation efforts, the impacts of additional customer energy-efficiency programs, and increased customer use of increasingly cost-effective advancements in innovative energy technologies, including private generation and battery storage. We expect a net increase in demand resulting from the electrification of the economy, including in the transportation sector. In addition, several entities in various industries, including