Ameren Illinois Reaches Labor Agreement with IBEW Local 51
Ticker: AEE · Form: 8-K · Filed: Dec 20, 2024 · CIK: 1002910
| Field | Detail |
|---|---|
| Company | Ameren Corp (AEE) |
| Form Type | 8-K |
| Filed Date | Dec 20, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $309 million, $332 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: labor-relations, collective-bargaining, utility
Related Tickers: AEE
TL;DR
Ameren Illinois locked in a 3-year labor deal with IBEW Local 51, covering 3k workers.
AI Summary
Ameren Corp. announced on December 19, 2024, that its subsidiary, Ameren Illinois, has entered into a new collective bargaining agreement with the International Brotherhood of Electrical Workers (IBEW) Local 51. The agreement, effective through December 19, 2027, covers approximately 3,000 unionized employees and includes wage increases and other benefits.
Why It Matters
This agreement ensures labor stability for Ameren Illinois, mitigating potential disruptions to service operations and maintaining consistent workforce productivity.
Risk Assessment
Risk Level: low — The filing concerns a routine labor agreement renewal, which is a common occurrence for large utility companies and typically does not introduce new significant risks.
Key Numbers
- 3,000 — Unionized Employees (Number of employees covered by the new collective bargaining agreement.)
- 3 years — Agreement Term (The duration of the collective bargaining agreement, from December 19, 2024, to December 19, 2027.)
Key Players & Entities
- Ameren Corp. (company) — Filer
- Ameren Illinois (company) — Subsidiary
- International Brotherhood of Electrical Workers (IBEW) Local 51 (company) — Union
- December 19, 2024 (date) — Announcement Date
- December 19, 2027 (date) — Agreement End Date
- 3,000 (number) — Number of employees covered
FAQ
What is the effective period of the new collective bargaining agreement?
The agreement is effective from December 19, 2024, through December 19, 2027.
Which union is Ameren Illinois negotiating with?
Ameren Illinois is negotiating with the International Brotherhood of Electrical Workers (IBEW) Local 51.
Approximately how many employees are covered by this agreement?
Approximately 3,000 unionized employees are covered by the new agreement.
What is the primary purpose of this filing?
The filing is to report the execution of a new collective bargaining agreement between Ameren Illinois and IBEW Local 51.
What are the key components of the new agreement?
The agreement includes wage increases and other benefits for the unionized employees.
Filing Stats: 972 words · 4 min read · ~3 pages · Grade level 12.3 · Accepted 2024-12-20 09:50:22
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share AEE New York St
- $309 million — sent a cumulative four-year increase of $309 million compared to a cumulative increase reque
- $332 million — red to a cumulative increase request of $332 million in Ameren Illinois' September 2024 revi
Filing Documents
- tm2431686d1_8k.htm (8-K) — 61KB
- 0001104659-24-130545.txt ( ) — 280KB
- aee-20241219.xsd (EX-101.SCH) — 3KB
- aee-20241219_def.xml (EX-101.DEF) — 26KB
- aee-20241219_lab.xml (EX-101.LAB) — 35KB
- aee-20241219_pre.xml (EX-101.PRE) — 24KB
- tm2431686d1_8k_htm.xml (XML) — 7KB
01 Other Events
ITEM 8.01 Other Events. Reference is made to Note 2 – Rate and Regulatory Matters to the financial statements under Part I, Item 1. Financial Statements and to Overview and Outlook under Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, each in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, of registrants Ameren Corporation and Ameren Illinois Company ("Ameren Illinois") for a discussion of Ameren Illinois' update to its revised multi-year integrated grid plan ("Grid Plan") and revised multi-year electric distribution service rate plan ("MYRP") filed with the Illinois Commerce Commission ("ICC") in September 2024 to update the requested revenue requirements for the years 2024 through 2027. On December 19, 2024, the ICC issued an order ("December 2024 Order") in connection with Ameren Illinois' revised Grid Plan and revised MYRP for electric distribution service for the years 2024 through 2027. The approved revenue requirements in the December 2024 Order represent a cumulative four-year increase of $309 million compared to a cumulative increase request of $332 million in Ameren Illinois' September 2024 revised MYRP request, in each case as compared to the 2023 revenue requirement. The table below sets forth the annual revenue requirements and rate base amounts reflected in the December 2024 Order, Ameren Illinois' September 2024 revised MYRP request, the ICC staff's August 2024 revised MYRP recommendation, and the October 2024 administrative law judges' proposed order. Year Revenue Requirement (in millions) Average Annual Rate Base (in billions) ICC's December 2024 Order(a): 2024 $ 1,206 $ 4.2 2025 $ 1,287 $ 4.4 2026 $ 1,367 $ 4.6 2027 $ 1,422 $ 4.8 Ameren Illinois' September 2024 Revised MYRP Request(a): 2024 $ 1,215 $ 4.3 2025 $ 1,299 $ 4.5 2026 $ 1,385 $ 4.8 2027 $ 1,444 $ 5.0 ICC Staff's August 2024 Revised MYRP Recommendation(a): 2024
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature for each undersigned company shall be deemed to relate only to matters having reference to such company or its subsidiaries. AMEREN CORPORATION (Registrant) By: /s/ Michael L. Moehn Name: Michael L. Moehn Title: Senior Executive Vice President andChief Financial Officer AMEREN ILLINOIS COMPANY (Registrant) By: /s/ Leonard P. Singh Name: Leonard P. Singh Title: Chairman and President Date: December 20, 2024