8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported):

October 2, 2006

Commission File Number	Exact Name of Registrant as Specified in Charter; State of Incorporation; Address and Telephone Number	IRS Employer Identification Number
1-14756	Ameren Corporation (Missouri Corporation) 1901 Chouteau Avenue St. Louis, Missouri 63103 (314) 621-3222	43-1723446
1-2967	Union Electric Company (Missouri Corporation) 1901 Chouteau Avenue St. Louis, Missouri 63103 (314) 621-3222	43-0559760

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 8.01 Other Events.

On October 2, 2006, Ameren Corporation (“Ameren”) issued a press release stating that the Federal Energy Regulatory Commission (“FERC”) on October 2, 2006, approved a stipulation and consent agreement reached between the FERC’s Office of Enforcement and Ameren’s subsidiary, Union Electric Company, doing business as AmerenUE (“UE”), relating to the December 2005 breach of the upper reservoir at UE’s Taum Sauk pumped-storage hydroelectric facility. The stipulation and consent agreement resolves all issues arising from an investigation that the FERC’s Office of Enforcement conducted into alleged violations of license conditions and FERC regulations by UE as the licensee of the Taum Sauk hydroelectric facility that may have contributed to the breach of the upper reservoir. As part of the stipulation and consent agreement, UE agreed, among other things, to: (i) pay a civil penalty of $10 million; (ii) pay $5 million into an interest-bearing escrow account to fund project enhancements at or near the Taum Sauk facility; and (iii) implement and comply with a new dam safety program developed in connection with the settlement.  As a result of $8 million having previously been accrued with respect to the FERC's investigation, this stipulation and consent agreement will limit the after-tax charge to earnings in the quarter ended September 30, 2006 to $7 million.  The press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Investigations by state authorities of the December 2005 breach of the upper reservoir at UE’s Taum Sauk hydroelectric facility have not concluded.

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number:	Title:
99.1	Press release regarding FERC-approved stipulation and consent agreement relating to Taum Sauk hydroelectric facility December 2005 upper reservoir breach, issued on October 2, 2006, by Ameren Corporation.

- - - - - - - - - - - - - - - - - - - -

This combined Form 8-K is being filed separately by Ameren Corporation and Union Electric Company (each a “registrant”). Information contained herein relating to any individual registrant has been filed by such registrant on its own behalf. No registrant makes any representation as to information relating to any other registrant.

-2-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. The signature for each undersigned company shall be deemed to relate only to matters having reference to such company or its subsidiaries.

AMEREN CORPORATION

(Registrant)

/s/ Martin J. Lyons                    

Martin J. Lyons

Vice President and Controller

(Principal Accounting Officer)

UNION ELECTRIC COMPANY

(Registrant)

/s/ Martin J. Lyons                    

Martin J. Lyons

Vice President and Controller

(Principal Accounting Officer)

Date: October 2, 2006

-3-

Exhibit Index

Exhibit Number:	Title:
99.1	Press release regarding FERC-approved stipulation and consent agreement relating to Taum Sauk hydroelectric facility December 2005 upper reservoir breach, issued on October 2, 2006, by Ameren Corporation.

-4-

EX-99.1

Exhibit 99.1

One Ameren Plaza

1901 Chouteau Avenue

St. Louis, MO 63103

[Missing Graphic Reference]  

Ameren News Release

Contact:

Investors:	Media:
Bruce Steinke	Tim Fox	Mike Cleary
(314) 554-2574	(314) 554-3120	(573) 681-7137

For Immediate Release

The Federal Energy Regulatory Commission Approves Stipulation and

Consent Agreement On Fines Over Taum Sauk Dam Breach

AmerenUE and the FERC Office of Enforcement Forged the Agreement

Executives Stress AmerenUE Continues to Take Responsibility for Effects of Breach And

Has Acted Aggressively to Avoid Such Incidents In the Future

St. Louis, Mo. Oct. 2, 2006---Ameren Corporation (NYSE: AEE) today announced that the Federal Energy Regulatory Commission (FERC) has approved a stipulation and consent agreement between AmerenUE and the FERC Office of Enforcement that resolves all potential federal liability associated with the failure of AmerenUE’s Taum Sauk Hydroelectric Plant. A Dec. 14, 2005, breach in the upper reservoir of the Taum Sauk Plant caused significant damage to a state park and injured a family of five—all of whom recovered.

AmerenUE agreed to pay a civil penalty of $10 million to the United States Treasury and to fund another $5 million in project enhancements at or near the Taum Sauk facility. The agreement also requires that AmerenUE implement immediately and comply with a dam safety program---something the company has already committed to establish.

A copy of the full stipulation and consent agreement can be found on the FERC Web site at www.ferc.gov.

“We have fully cooperated with federal and state agencies in their investigation of this incident and have chosen to enter into this consent agreement rather than engaging in prolonged litigation because, from day one, we have accepted full responsibility for the effects of the breach,” said Gary L. Rainwater, Ameren chairman, president and chief executive officer. “We continue to focus on ensuring that something like this never happens again.”

Ameren Executive Vice President and Chief Operating Officer Thomas R. Voss added that the company has taken many steps to repair the damage to property and the environment caused by the breach. “We have spent tens of millions of dollars to repair Johnson’s Shut-Ins

State Park, and we have reached out to the community--funding marketing programs, covering financial damages of individuals and businesses and supporting local emergency response organizations.

“We have also worked aggressively in the past several months to build dam safety and quality assurance programs and to upgrade training,” he added. “Safety is our highest priority, and we have strengthened our safety training throughout the company.”

As a result of the Taum Sauk incident, Ameren has established a dam safety program, which is led by a highly experienced civil engineer. This Chief Dam Safety Engineer directs a multi-disciplinary team dedicated to hydro-engineering and managing ongoing upgrades, conducting safety and other operational inspections and implementing safety improvements.

BACKGROUND: On Dec. 14, 2005, the AmerenUE Taum Sauk Plant experienced a breach in its upper reservoir that caused significant flooding in the Johnson’s Shut-Ins State Park. The plant’s 1.4 billion gallon Upper Reservoir experienced a rupture in the northwest corner causing water to flow down the mountain. The company implemented its emergency plan and assembled a multi-disciplinary team of experts, company officials and consultants to analyze the event and determine next steps. Operational in 1963, AmerenUE’s Taum Sauk Plant is a “pumped-storage” hydroelectric plant. It stored water from the Black River in the upper reservoir, built atop the 1,590-foot-high Proffit Mountain and released the water to generate electricity when power was needed. The plant employs 12 people. The water flowed down a mile-long tunnel inside the mountain, turning turbine-generators to produce electricity. When power demand was low, the same turbines ran in reverse to pump water back to the upper reservoir. AmerenUE is a subsidiary of St. Louis-based Ameren Corporation. Ameren companies serve 2.4 million electric customers and nearly one million natural gas customers in a 64,000-square-mile area of Missouri and Illinois.

#     #     #