Ameren Corporation (NYSE:AEE) Q2 2019 Earnings Conference Call Transcript

Aug 02, 2019 • 10:00 am ET

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Ameren Corporation (NYSE:AEE) Q2 2019 Earnings Conference Call Transcript

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Q & A
Operator
Operator

At this time, we'll be conducting a question-and-answer session. [Operator Instructions] Our first question comes from Julien Dumoulin-Smith with Bank of America. Please proceed with your question.

Executive
Martin J. Lyons

Good morning, Julien.

Analyst
Julien Dumoulin-Smith

Hey. Good morning.

Executive
Martin J. Lyons

How you doing?

Analyst
Julien Dumoulin-Smith

Hey. How are you?

Executive
Warner L. Baxter

Terrific. Thank you.

Executive
Martin J. Lyons

Great. Not bad.

Analyst
Julien Dumoulin-Smith

So, maybe just to kick things off, if I can, I'd love to go back to your comments, Warner, on the terminated agreement with EDF and how you think about next steps. And also just to make sure that you've secured your interconnection upgrade costs and firm those up on the other projects as well. Do you think this was very much isolated to this project, or is this kind of a wider theme that you're seeing in the MISO footprint?

Executive
Warner L. Baxter

Yeah. Thanks, Julien. So, a couple things. Number one, yes, with regard to the two projects that we have, the 400 megawatt project and the 300 megawatt project, we have the final interconnection costs done. And that was not the case with the EDF, that was only in the second stage. So, now those other two are done. So now keep in mind for the 400 megawatt project, we have the CCN already and so well positioned. We can move forward on that. We still have to get the interconnection agreement, but we expect that by the fall. And so we don't see any major issues with that.

With the 300 megawatt project, as you heard me say, we're real pleased to get a non-unanimous stipulation with the Missouri Public Service Commission staff. And so we're well positioned to have the review by the Missouri Public Service Commission and we look forward to having that and hopefully a decision by October. So as I step back and look at where we're at with the 700 megawatts that we have in place, I think we're very well positioned to get the necessary regulatory approvals and to begin construction in those projects and to get them all in service by the end of 2020.

Analyst
Julien Dumoulin-Smith

Got it. And just to clarify here with respect to the initial project that was terminated. Is it your expectation that you go back to try to find an alternative project, restructure this project somehow to address some of the transmission costs, however, that might ever be possible? Or perhaps just forgo it altogether because obviously, as you said, you're ahead of the plan as you initially described anyway?

Executive
Warner L. Baxter

Yeah. So good question, Julien. So look, the bottom line is that with the 700 megawatts now that we have announced, we are in compliance with the Missouri Renewable Energy Standard and so we're well positioned. And in fact, that's consistent with what we said at the outset of these conversation and consistent with our integrated resource plan.

But like I also said, we continue to look at renewable energy investment opportunities and I mentioned the Renewable Choice Program. Certainly, we will file an updated integrated resource plan next year. So, we're not