Ameren reports third quarter earnings

Posted: Nov. 7, 2013 10:26 am Updated: Nov. 28, 2013 12:10 pm

Ameren Corp. announced third quarter income of $305 million on Thursday.

The utility company reported quarterly shareholder earnings of $1.25 per diluted share, compared to $309 million, or $1.28 per diluted share, for the third quarter of 2012.

"Cooler-than-normal weather had a negative impact on third-quarter earnings," said Thomas R. Voss, chairman, president and CEO of Ameren Corporation. "As a result, we have updated our 2013 guidance for earnings from continuing operations to a range of $2 to $2.10 per diluted share, compared to our prior range of $2 to $2.15 per diluted share."

Voss said Ameren has achieved three important milestones in recent weeks.

"In August, the Illinois Commerce Commission approved a Certificate of Public Convenience and Necessity for key portions of the Illinois Rivers transmission project and we expect the remainder of the project to be approved by March of next year. Further, in October, the Federal Energy Regulatory Commission approved our divestiture of the merchant generation business to a Dynegy affiliate and we announced an agreement to sell our merchant gas-fired energy centers. Both transactions are expected to close by year-end. These milestones reflect our focus on rate-regulated operations and allocation of growth capital to higher and more predictable return opportunities."