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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule Of Fair Value Hierarchy Of Assets And Liabilities Measured At Fair Value On Recurring Basis
The following table sets forth, by level within the fair value hierarchy, our assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023:
December 31, 2024December 31, 2023
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:
Ameren Missouri
Derivative assets – commodity contracts:
Fuel oils$— $— $— $— $2 $— $— $2 
Natural gas— 4 — 4 — 3 — 3 
Power— — 6 6 — — 5 5 
Uranium— — — — — — 9 9 
Total derivative assets – commodity contracts$— $4 $6 $10 $2 $3 $14 $19 
Nuclear decommissioning trust fund:
Equity securities:
U.S. large capitalization$911 $— $— $911 $787 $— $— $787 
Debt securities:
U.S. Treasury and agency securities— 191 — 191 — 150 — 150 
Corporate bonds— 145 — 145 — 136 — 136 
Other— 86 — 86 — 68 — 68 
Total nuclear decommissioning trust fund$911 $422 $— $1,333 
(a)
$787 $354 $— $1,141 
(a)
Total Ameren Missouri$911 $426 $6 $1,343 $789 $357 $14 $1,160 
Ameren Illinois
Derivative assets – commodity contracts:
Natural gas$— $3 $3 $6 $— $1 $2 $3 
Total Ameren Illinois$— $3 $3 $6 $— $1 $2 $3 
Ameren
Derivative assets – commodity contracts(b)
$— $7 $9 $16 $2 $4 $16 $22 
Nuclear decommissioning trust fund(c)
911 422 — 1,333 
(a)
787 354 — 1,141 
(a)
Total Ameren$911 $429 $9 $1,349 $789 $358 $16 $1,163 
Liabilities:
Ameren Missouri
Derivative liabilities – commodity contracts:
Fuel oils$4 $— $— $4 $2 $— $— $2 
Natural gas$— $11 $— $11 $— $19 $3 $22 
Power— — — — — — 1 1 
Total Ameren Missouri$4 $11 $— $15 $2 $19 $4 $25 
Ameren Illinois
Derivative liabilities – commodity contracts:
Natural gas$1 $28 $6 $35 $4 $60 $11 $75 
Power— — 53 53 — — 68 68 
Total Ameren Illinois$1 $28 $59 $88 $4 $60 $79 $143 
Ameren
Derivative liabilities – commodity contracts(b)
$5 $39 $59 $103 $6 $79 $83 $168 
(a)Balance excludes $9 million and $9 million of cash and cash equivalents, receivables, payables, and accrued income, net for December 31, 2024 and 2023, respectively.
(b)See the Ameren Missouri and Ameren Illinois sections of the table for the fair value of Ameren’s derivative assets and liabilities by type of commodity.
(c)See the Ameren Missouri section of the table for Ameren’s nuclear decommissioning trust fund by investment type.
Schedule Of Changes In The Fair Value Of Financial Assets And Liabilities Classified As Level 3 In The Fair Value Hierarchy The following table presents the fair value reconciliation of Level 3 power derivative contract assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2024 and 2023:
20242023
Ameren
Missouri		Ameren
Illinois		AmerenAmeren
Missouri		Ameren
Illinois		Ameren
Beginning balance at January 1$4 $(68)$(64)$12 $(33)$(21)
Realized and unrealized gains (losses) included in regulatory assets/liabilities12 (1)11 1 (48)(47)
Settlements(10)16 6 (9)13 4 
Ending balance at December 31$6 $(53)$(47)$4 $(68)$(64)
Change in unrealized gains (losses) related to assets/liabilities held at December 31$6 $3 $9 $4 $(36)$(32)
Fair Value Inputs, Assets and Liabilities, Quantitative Information
The following table describes the valuation techniques and significant unobservable inputs utilized for the fair value of our Level 3 power derivative contract assets and liabilities as of December 31, 2024 and 2023:
Fair Value
Weighted Average(b)
CommodityAssetsLiabilitiesValuation Technique(s)
Unobservable Input(a)
Range
2024
Power(c)
$6 $(53)Discounted cash flowAverage forward peak and off-peak pricing – forwards/swaps ($/MWh)
32 – 69
45
Nodal basis ($/MWh)
(8) – (2)
(5)
2023
Power(c)
$5 $(69)Discounted cash flowAverage forward peak and off-peak pricing – forwards/swaps ($/MWh)
31 – 65
43
Nodal basis ($/MWh)
(8) – (1)
(5)
(a)Generally, significant increases (decreases) in these inputs in isolation would result in a significantly higher (lower) fair value measurement.
(b)Unobservable inputs were weighted by relative fair value.
(c)Valuations use visible forward prices adjusted for nodal-to-hub basis differentials.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]
The following table sets forth the carrying amount and, by level within the fair value hierarchy, the fair value of long-term debt (including current portion), disclosed, but not recorded, at at fair value as of December 31, 2024 and 2023:
Carrying
Amount(a)
Fair Value
Long-Term Debt (Including Current Portion):Level 2Level 3Total
December 31, 2024
Ameren(b)
17,579 15,395 538 
(c)
15,933 
Ameren Missouri(d)
7,745 6,926 — 6,926 
Ameren Illinois(d)
5,852 5,243 — 5,243 
December 31, 2023
Ameren15,970 14,366 467 
(c)
14,833 
Ameren Missouri6,341 5,800 — 5,800 
Ameren Illinois5,232 4,867 — 4,867 
(a)Included unamortized debt issuance costs, which were excluded from the fair value measurement, of $129 million, $62 million, and $51 million for Ameren, Ameren Missouri, and Ameren Illinois, respectively, as of December 31, 2024. Included unamortized debt issuance costs, which were excluded from the fair value measurement, of $111 million, $45 million, and $47 million for Ameren, Ameren Missouri, and Ameren Illinois, respectively, as of December 31, 2023.
(b)Amount excludes Ameren (parent)’s repurchase of Ameren Missouri’s senior secured notes and first mortgage bonds and Ameren Illinois’ first mortgage bonds in 2024 that were accounted for as a debt extinguishment. See Note 5 – Long-term Debt and Equity Financings for additional information.
(c)The Level 3 fair value amount consists of ATXI’s senior unsecured notes.
(d)Amount includes Ameren Missouri’s senior secured notes and first mortgage bonds and Ameren Illinois’ first mortgage bonds that were repurchased by Ameren (parent) in 2024.