Ameren Energy slight earnings loss in 3rd quarter
DECATUR—Ameren Energy is reporting a slight decrease in revenues for the past quarter when compared to the same point a year ago.
On Thursday the St. Louis area energy supplier announced net income from continuing operations for the third quarter of 2013 of $305 million, or $1.25 per diluted share, compared to $309 million, or $1.28 per diluted share in 2012. Ameren CEO Thomas R. Voss says the decrease in revenues were due to a number of factors, “Cooler-than-normal weather had a negative impact on third quarter earnings. As a result we have updated our 2013 guidelines for earnings from continuing operations to a range of $2.00 to $2.10 per diluted share.”
Despite the overall loss of revenue, Ameren Illinois saw an increase of $6 million when compared to 2012. Third quarter 2013 earnings were reported at $77 million, up from $71 million in 2012. Ameren Missouri also saw an increase in 2013 when compared to 2012, up to $238 million from $236 million. The losses came from the Parent company which negated any positives by the energy branches by reporting a loss of $10 million.
Voss says there are reasons to be optimistic in the coming quarter, “We reached three important milestones in recent weeks. In august, the ICC 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.”
Based out of St. Louis, Ameren Corporation serves 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000 square mile area.