Thursday, August 02, 2007

Ameren Profits Increase 38% - $266 Million Profit This Year

This is from the Springfield Journal Register (because the Post Dispatch hasn't bothered to cover it yet).
Last Updated 8/2/2007 9:41:28 AM
Higher electric costs contributed to a nearly 38 percent increase in Ameren Corp. profits for the first half of the year compared to 2006, the St. Louis utility reported today. The $266 million profit from January through June amounted to $1.29 per share compared to the $193 million, or 94 cents per share, last year.
“Our second-quarter earnings benefited principally from higher power prices for sales from our non-regulated generation business segment and warmer summer weather,” chairman, president and CEO Gary Rainwater said in the report.
The report does not include a $1 billion rate relief package for residential customers of Ameren and Commonwealth Edision recently approved by the General Assembly in reaction to power bills that shot up following the end of a statewide rate freeze Jan. 1.
The legislation is awaiting action by Gov. Rod Blagojevich.