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Ameren Forms Nonprofit as Part of Settlement

By Matt Sepic, KWMU

St. Louis – As part of their settlement with the state of Missouri, Ameren UE has started a new nonprofit organization company officials say will spur economic development in the state.

The utility will put $9 million into the effort over the next several years. It's part of a $400 million settlement with the state Public Service Commission over power rates.

PSC Chairman Steve Gaw says the money is not coming from Ameren customers.

"It is important to note that this program is not funded by ratepayer dollars, but from funds that might have otherwise been shareholders'," Gaw said.

The state settled with Ameren in July, 2002 after officials complained the company's rates were unreasonable.

Ameren serves about 1.2 million customers in eastern Missouri.

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