Ameren execs: “Fans of electric vehicles”

Like most shareholder meetings, yesterday’s Ameren Corp. gathering at the St. Louis Art Museum was short on drama, and news. There was the usual board election, auditor ratification and company overview from Chief Executive Gary L. Rainwater. But his comments during the Q&A session of the meeting did provide food for thought the next time you’re filling up with $3.50-a-gallon gasoline. (A replay of the meeting can be heard here.)

Rainwater was asked what the development of plug-in hybrids means for Ameren and its ability to meet demand when customers are able to charge their cars at home.

His answer wasn’t surprising: “We certainly are fans of electric vehicles.”

Rainwater, an electrical engineer, said he’s done the calculus to determine what it would cost to fuel up with electricity in the St. Louis area, and it comes to roughly 50 cents a gallon — a considerable savings these days.

While it’ll still be a while until large numbers of plug-in hybrids are parked in garages here, Rainwater doesn’t think it will put too much of a strain on electricity supplies since many consumers would be charging their cars in the evening and overnight, so-called “off-peak” hours when electricity demand (and prices) are lower.

Rainwater didn’t explain how he arrived at the figure. But the non-profit Palo Alto-based California Cars Initiative does here.

Using the average U.S. electricity rate of 9 cents per kilowatt-hour (kWh), 30 miles of electric driving will cost 81 cents. If we optimistically assume the average US fuel economy is 25 miles per gallon, at $3.00 gasoline this equates to 75 cents a gallon for equivalent electricity.

For now, of course, the more relevant question is: When will plug-in hybrids be available? GM says it is targeting 2010 for the Chevrolet Volt, and Toyota is apparently targeting a similar time table for its Prius plug-in.