Attorney General Kwame Raoul has announced that many Ameren Illinois customers in central and southern Illinois will soon see credits applied to their electric bills. The credits stem from a $38 million settlement reached with Dynegy Inc., a subsidiary of Vistra Corporation, following a decade-long investigation into alleged energy market manipulation. The Federal Energy Regulatory Commission (FERC) approved the settlement in August 2025, resolving complaints tied to the 2015 Midcontinent Independent System Operator (MISO) capacity auction—an auction that produced capacity prices 40 times higher than other MISO zones and nearly nine times higher than the previous year.
Under the settlement:
Approximately $33.5 million will go to Ameren residential and small commercial customers on Basic Generation Service or Real Time Pricing.
Customers will receive one-time credits, based on individual energy usage.
Credits will begin appearing on bills starting in December.
The Attorney General’s office, Public Citizen, Southwestern Electric Cooperative, and the Illinois Industrial Energy Consumers filed complaints in 2015, arguing that Dynegy used its market position—after acquiring several Ameren plants—to artificially raise Illinois capacity prices. FERC initially took partial action but dismissed further findings, prompting the U.S. Court of Appeals to order a review, citing “starkly anomalous results.” FERC then required Dynegy to negotiate, leading to the 2025 settlement.
Aside from the Ameren customer refunds, the settlement includes:
$1.14 million to Southwestern Electric Cooperative
$1.33 million to the Illinois Municipal Electric Agency
$2 million to Illinois Industrial Energy Consumers
Customers who receive electricity through municipal aggregation or non-Ameren suppliers are not eligible, as they did not pay the inflated charges.
The case was handled by Bureau Chief Susan L. Satter and Senior Assistant Attorney General Scott Metzger of the Illinois Attorney General’s Public Utilities Bureau.