By AP/KWMU
Springfield, Ill – St. Louis-based Ameren Corporation cleared one regulatory hurdle today in its proposed $2.3 billion purchase of Decatur-based Illinois Power.
The company announced that the Federal Energy Regulatory Commission had approved the deal.
The sale still needs other regulatory approval, including from the Illinois Commerce Commission and the Securities and Exchange Commission.
Ameren expects to get the necessary approvals in the next several months.
It is buying the utility from Houston-based Dynegy Incorporated and hopes to close the deal by the end of the year.
Illinois Power serves about 600,000 electric and about 415,000 natural gas customers across Illinois.
Ameren has about 1.7 million electric customers in Missouri and Illinois.