Ameren

Name

Ameren

Legal name

Ameren Corporation

Website

https://ameren.com

Company type

Public

Founded year

1902

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Electric and Natural Gas Utility Services

NAICS

Natural Gas Distribution (221210), Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)

SIC

Natural Gas Transmisison & Distribution (4923), Natural Gas Transmission (4922)

akta.pro primary industry

Distribution Network O&M (MV/LV Lines, Switchgear, Transformers) (EUAEAGAE)

akta.pro secondary industries

C&I Retail Natural Gas Supply (EUAGACAB), Thermal Power Plant O&M (Coal, Gas, Oil) (EUAEAGAA)

Keywords

• Electric utility services
• Natural gas distribution
• Regulated energy services
• Power generation
• Transmission infrastructure

Headquarters

HQ city

St Louis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Regulated Electric Distribution and Transmission: Ameren generates revenue primarily through regulated returns on electric distribution and transmission infrastructure. Revenue is determined by state-regulated rate base growth, with earnings driven by capital investments in grid modernization, generation capacity, and renewable energy. The company targets 6-8% annual EPS growth through 2030, funded by $31.8 billion in planned capital expenditures (2026-2030). Revenue streams are subject to rate case proceedings before state utility commissions in Missouri (MO PSC) and Illinois (ICC).
2. Regulated Natural Gas Distribution: Ameren Illinois delivers natural gas to approximately 900,000 customers across its service territory, with revenue generated through regulated delivery charges approved by the Illinois Commerce Commission. Ameren also operates natural gas storage fields to ensure reliable supply and manage seasonal demand fluctuations.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Ameren Corporation is a regulated utility holding company that generates, transmits, and distributes electricity and distributes natural gas to approximately 2.4 million electric and 900,000 natural gas customers across Missouri and Illinois through its subsidiaries Ameren Missouri, Ameren Illinois, and Ameren Transmission Company of Illinois. It operates a diversified generation fleet including nuclear, coal, natural gas, wind, and solar assets and is regulated by state public service commissions and the Federal Energy Regulatory Commission (FERC).

Product overview

Ameren is a regulated utility holding company operating through two primary subsidiaries: Ameren Missouri (serving approximately 1.2 million electric and 130,000 gas customers) and Ameren Illinois (serving approximately 1.3 million electric and 800,000 gas customers). The company's product portfolio spans core utility services including electricity and natural gas delivery, complemented by an array of customer programs. The Smart Energy Plan represents Ameren's multi-year grid modernization initiative featuring smart meters, smart switches, and infrastructure upgrades. Billing options include Budget Billing, Paperless Billing, Pick A Due Date, and Auto Pay. Rate programs feature Power Smart Pricing (real-time hourly pricing) and Off-Peak/On-Peak rate options. Energy efficiency offerings encompass PAYS, HVAC PAYS, CommunitySavers (residential), and BizSavers (business). Renewable energy programs include Customer-Owned Solar, Community Solar, Business-Owned Solar, Neighborhood Solar, and Pure Power. EV charging programs feature ChargeSmart, ChargeReady, and FlexCharge. Customer assistance programs include LIHEAP, Dollar More, Keeping Current, Keeping Cool, Warm Neighbors Cool Friends, New Start Energy Relief, Clean Slate, SARP, and Medical Hardship support. Digital services comprise Online Profile, Mobile App, and Ameren Alerts. The company also provides Gas Transportation options for non-residential customers seeking supply choice.

Differentiator

Problem solved

Functional benefit

Products and services

• Ameren Missouri Electric Service

Named customers3 records

Segments3 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and major.

• Amazon (AWS)coreStrategic or Co-development Partner · 17 June 2026Amazon partnered with Ameren Missouri as its primary utility for energy supply for a $10 billion data center campus in Montgomery County, Missouri. Amazon committed to ensuring energy costs would not be passed on to other ratepayers, and also invested in water infrastructure and a carbon-free energy project generating 138 megawatts. The partnership includes ChangeX for community grant fund management and Arable Labs for irrigation optimization. Amazon also committed over $7 million in community contributions including $3 million toward public safety infrastructure and $1 million for STEM education programs.
• Google (Alphabet)coreStrategic or Co-development Partner · 20 May 2026Google partnered with Ameren Missouri to add over 500 megawatts of additional power capacity and contracted over 1 gigawatt of new generation capacity for its $15 billion data center in New Florence, Montgomery County, Missouri. Google launched a $20 million Energy Impact Fund to reduce household energy costs in surrounding communities and partnered with Ameren for workforce development initiatives. Under Missouri legislation signed in 2025, Google covers 100% of power costs and infrastructure expenses directly tied to its facility.
• GridLiance Heartland (NextEra subsidiary)majorStrategic or Co-development Partner · 19 May 2026MISO selected a consortium led by Ameren Transmission Company of Illinois (ATXI) and GridLiance Heartland to develop two major 765-kilovolt transmission projects in Illinois totaling an estimated $1.658 billion. The STIW project spans approximately 149 miles from Woodford County to the Iowa/Illinois state line ($940 million), while the WIIL project covers 88 miles connecting Illinois to Indiana ($718 million). Ownership is split at 43% ATXI, 43% GridLiance, 11% Dairyland, and 3% IMEA, with expected in-service dates of 2034.
• Dairyland Power CooperativemajorStrategic or Co-development Partner · 19 May 2026Dairyland Power Cooperative is part of the consortium developing two major 765-kV transmission projects in Illinois alongside Ameren subsidiary ATXI and GridLiance Heartland. The projects are part of MISO's Long Range Transmission Planning Tranche 2.1 Portfolio with ownership split at 43% ATXI, 43% GridLiance, 11% Dairyland, and 3% IMEA, expected operational by 2034.
• Illinois Municipal Electric Agency (IMEA)majorStrategic or Co-development Partner · 19 May 2026IMEA holds a 3% ownership stake in the consortium developing two major 765-kV transmission projects in Illinois alongside Ameren subsidiary ATXI (43%), GridLiance Heartland (43%), and Dairyland Power Cooperative (11%). Projects are part of MISO's Long Range Transmission Planning Tranche 2.1 Portfolio.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Duke Energy: Large regulated multi-state electric and gas utility serving the Carolinas, Florida, Ohio, and Indiana. Comparable to Ameren as a diversified regulated utility investing in grid modernization, gas distribution, and generation capacity to serve data center load growth.
• Southern Company: Vertically integrated regulated electric utility holding company with gas operations across the Southeast. Operates generation, transmission, and distribution under rate-base growth models similar to Ameren's, with comparable multi-year capex plans and large customer programs.
• Dominion Energy: Large regulated electric and natural gas utility serving Virginia, the Carolinas, Utah, and other states. Comparable to Ameren in pursuing data center load growth, large-scale transmission expansion, and integrated utility operations under state regulatory frameworks.
• Entergy: New Orleans-based regulated electric utility serving Louisiana, Mississippi, Arkansas, Texas, and Missouri. Comparable to Ameren Missouri on regulated electric operations in overlapping service territory, with similar rate base growth and generation investment programs.

Direct peers

• Xcel Energy: Multi-state regulated electric and natural gas utility serving customers across the Midwest, Plains, and Southwest. Directly comparable to Ameren's integrated electric distribution, transmission, and gas distribution model under state commission regulation, with similar capex-driven rate base growth strategies.
• WEC Energy Group: Wisconsin-headquartered regulated electric and natural gas utility holding company operating across Wisconsin, Illinois, Minnesota, and Michigan. Overlaps directly with Ameren Illinois on electric and gas distribution, making it one of the closest peer utilities in scale, geography, and business mix.
• DTE Energy: Michigan-based regulated electric and natural gas utility with comparable business mix, capital investment programs, and focus on grid modernization. Closely mirrors Ameren's integrated electric/gas utility operating model and rate base growth strategy.
• CMS Energy (Consumers Energy): Michigan regulated electric and natural gas utility with similar mid-cap utility profile, multi-year capex plans, and integrated distribution/generation/transmission operations. Comparable to Ameren in scale, regulatory model, and clean energy transition priorities.
• Evergy: Kansas City-based regulated electric utility holding company serving Kansas and Missouri. Directly comparable as a Midwestern regulated electric utility with overlapping service territory in Missouri alongside Ameren Missouri, similar rate base growth strategies and grid modernization focus.
• Exelon: Chicago-based regulated electric transmission and distribution utility holding company serving Illinois, Pennsylvania, Maryland, New Jersey, and other states. Directly comparable to Ameren Illinois on electric distribution and transmission operations in Illinois under identical state regulatory oversight.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AmerenCorp
• Facebookfacebook.com/amerenillinois http://www.facebook.com/amerenmissouri
• LinkedInlinkedin.com/company/ameren

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds14 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ameren