Ameren sees data-center deals pushing investment beyond $38 billion plan
AEE•Ameren said it may need to invest in power generation beyond its $38.1 billion capital plan through 2031, as it expects to sign more electric-service agreements in 2027. The company raised its 2026 earnings forecast and projected annual EPS growth of 8% to 10% from 2027 through 2031.
1. More service agreements expected
Ameren said it may need to invest in power generation beyond its $38.1 billion capital plan through 2031. The plan assumes 2.9 GW of new Missouri load by 2031, mainly from 2.8 GW covered by signed agreements that include Google and Amazon projects representing $25 billion of planned investment in Ameren’s Missouri service territory. CEO Marty Lyons said the company is optimistic it will sign further energy-service agreements in 2027.
2. Generation and earnings plans
Ameren plans to add about 7.7 GW of generation capacity between 2027 and 2031, increasing installed capacity in Missouri by roughly 80%. It is seeking regulatory approval for the 2.1 GW West Alton natural gas plant, expected to enter service in 2031. The company raised its 2026 earnings forecast and projected annual earnings-per-share growth of 8% to 10% from 2027 through 2031.
