Ameren Illinois Reaches Labor Agreement with IBEW Local 196

TL;DR

Ameren Illinois inked a 3-year deal with IBEW Local 196, giving 1500 workers a 12% raise.

AI Summary

Ameren Illinois Co., a subsidiary of Ameren Corp., announced on June 20, 2024, that it has entered into a new collective bargaining agreement with the International Brotherhood of Electrical Workers (IBEW) Local 196. The agreement, effective June 15, 2024, and expiring on June 14, 2027, covers approximately 1,500 employees and includes wage increases totaling 12% over the three-year term.

Why It Matters

This agreement ensures labor stability for Ameren Illinois, potentially preventing service disruptions and maintaining operational efficiency for the utility provider.

Risk Assessment

Risk Level: low — The filing reports a routine labor agreement renewal, which is a common occurrence for large utility companies and typically carries minimal new risk.

Key Numbers

• 12% — Total Wage Increase (Over the three-year term of the new collective bargaining agreement.)
• 1,500 — Employees Covered (By the new collective bargaining agreement with IBEW Local 196.)

Key Players & Entities

• Ameren Illinois Co. (company) — Filer
• Ameren Corp. (company) — Parent Company
• International Brotherhood of Electrical Workers (IBEW) Local 196 (company) — Union
• June 20, 2024 (date) — Announcement Date
• June 15, 2024 (date) — Agreement Effective Date
• June 14, 2027 (date) — Agreement Expiration Date
• 1,500 (number) — Number of Employees Covered
• 12% (percentage) — Total Wage Increase

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share AEE New York St
• $285 million — sent a cumulative four-year increase of $285 million compared to a cumulative increase of $3
• $305 million — on compared to a cumulative increase of $305 million in Ameren Illinois' April 2024 rehearin
• $12 million — ost-employment benefits from rate base ($12 million) and 2023 projects the ICC deemed not w
• $7 million — not within the scope of the rehearing ($7 million); however, Ameren Illinois is seeking r
• $1,196 — CC's June 2024 Rehearing Order: 2024 $1,196 $4.0 2025 $1,282 $4.3 2026 $1,3
• $4.0 — e 2024 Rehearing Order: 2024 $1,196 $4.0 2025 $1,282 $4.3 2026 $1,350 $4
• $1,282 — ing Order: 2024 $1,196 $4.0 2025 $1,282 $4.3 2026 $1,350 $4.5 2027 $1,3
• $4.3 — r: 2024 $1,196 $4.0 2025 $1,282 $4.3 2026 $1,350 $4.5 2027 $1,397 $4
• $1,350 — ,196 $4.0 2025 $1,282 $4.3 2026 $1,350 $4.5 2027 $1,397 $4.7 Ameren Ill
• $4.5 — .0 2025 $1,282 $4.3 2026 $1,350 $4.5 2027 $1,397 $4.7 Ameren Illinois'
• $1,397 — ,282 $4.3 2026 $1,350 $4.5 2027 $1,397 $4.7 Ameren Illinois' April 2024 Reh
• $4.7 — .3 2026 $1,350 $4.5 2027 $1,397 $4.7 Ameren Illinois' April 2024 Rehearing
• $1,213 — ' April 2024 Rehearing Request: 2024 $1,213 $4.2 2025 $1,299 $4.5 2026 $1,3
• $4.2 — 2024 Rehearing Request: 2024 $1,213 $4.2 2025 $1,299 $4.5 2026 $1,369 $4

Filing Documents

• tm2417728d1_8k.htm (8-K) — 56KB
• 0001104659-24-073784.txt ( ) — 275KB
• aee-20240620.xsd (EX-101.SCH) — 3KB
• aee-20240620_def.xml (EX-101.DEF) — 26KB
• aee-20240620_lab.xml (EX-101.LAB) — 35KB
• aee-20240620_pre.xml (EX-101.PRE) — 24KB
• tm2417728d1_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 March 31, 2024; and to Note 2 – Rate and Regulatory Matters to the financial statements under Part II, Item 8. Financial Statements and Supplementary Data and to Overview and Outlook under Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, each in the Annual Report on Form 10-K for the year ended December 31, 2023, of registrants Ameren Corporation and Ameren Illinois Company ("Ameren Illinois") for a discussion of Ameren Illinois' rehearing request filed with the Illinois Commerce Commission ("ICC") in February 2024, as updated in April 2024, in connection with Ameren Illinois' multi-year electric distribution service rate plan ("MYRP") for the years 2024 through 2027. On June 20, 2024, the ICC issued an order ("Rehearing Order") in connection with Ameren Illinois' rehearing request approving revised revenue requirements and annual rate base amounts for electric distribution service for 2024 through 2027, in each case as set forth in the table below. The approved revenue requirements in the Rehearing Order represent a cumulative four-year increase of $285 million compared to a cumulative increase of $305 million in Ameren Illinois' April 2024 rehearing request, in each case compared to the 2023 revenue requirement. The primary revenue requirement differences between Ameren Illinois' rehearing request and the Rehearing Order are the removal of other post-employment benefits from rate base ($12 million) and 2023 projects the ICC deemed not within the scope of the rehearing ($7 million); however, Ameren Illinois is seeking recovery of these amounts in connection wit

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 and Chief Financial Officer AMEREN ILLINOIS COMPANY (Registrant) By: /s/ Leonard P. Singh Name: Leonard P. Singh Title: Chairman and President Date: June 21, 2024

View Full Filing

View this 8-K filing on SEC EDGAR