Ameren Illinois Reaches Labor Agreement with IBEW Local 148
Ticker: AILIP · Form: 8-K · Filed: Dec 20, 2024 · CIK: 18654
| Field | Detail |
|---|---|
| Company | Ameren Illinois Co (AILIP) |
| 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, subsidiary-filing
Related Tickers: AEE
TL;DR
Ameren Illinois and IBEW Local 148 inked a new 3-year labor deal, avoiding strikes.
AI Summary
Ameren Illinois Co., a subsidiary of Ameren Corp., announced on December 19, 2024, that it has entered into a new collective bargaining agreement with the International Brotherhood of Electrical Workers (IBEW) Local 148. The agreement covers approximately 1,600 employees and is effective through December 18, 2027.
Why It Matters
This agreement ensures labor stability for Ameren Illinois, mitigating potential disruptions to operations and service for its customers.
Risk Assessment
Risk Level: low — The filing indicates a successful negotiation of a collective bargaining agreement, which typically resolves potential labor disputes.
Key Numbers
- 1,600 — Employees Covered (Number of employees represented by the new collective bargaining agreement.)
Key Players & Entities
- Ameren Illinois Co. (company) — Filer and subject of the agreement
- Ameren Corp. (company) — Parent company of Ameren Illinois Co.
- International Brotherhood of Electrical Workers (IBEW) Local 148 (company) — Union representing employees in the agreement
- December 19, 2024 (date) — Date of the announcement
- December 18, 2027 (date) — Effective end date of the agreement
FAQ
What is the duration of the new collective bargaining agreement?
The agreement is effective through December 18, 2027.
Which union is Ameren Illinois Co. entering into this agreement with?
Ameren Illinois Co. is entering into the agreement with the International Brotherhood of Electrical Workers (IBEW) Local 148.
Approximately how many employees are covered by this new agreement?
Approximately 1,600 employees are covered by the new agreement.
What type of filing is this for Ameren Illinois Co.?
This is a Form 8-K filing.
What is the effective end date of the collective bargaining agreement?
The agreement is effective through December 18, 2027.
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