Dear Editor:
Last Friday's St. Louis Post Dispatch carried an article on the front page titled "Ameren's profits are heating up." It's fair sized so I'll quote a few interesting comments. Ameren Corp's second quarter profits jumped 53 percent.
Sales from the company's Missouri electric utility rose four percent. Ameren's Missouri earnings jumped by 59 percent to $143 million. To Ameren consumers, if you have a copy of the St. Louis Post, read it in its entirety, it's enlightening. If not, my recommendation is to acquire one.
This was never disclosed at that Monday night hearing meeting. Can you imagine what kind of noise this would have generated. On the other hand, it would have been wasted as we are dealing with a monopoly. Unfortunately Ameren consumers, we are at their mercy and MPSC appears to agree with them.
The MPSC staff is urging regulators to cut Ameren's request by at least $100 million from a request of $376 million. Wow, based on their earnings there is no concern for the consumer whatsoever. Those who attended the meeting stated, Don't raise our rates and my vote on the increase is a resounding no. Plus the fuel adjustment charge needs to be eliminated.
Do you all know that Ameren can make adjustments to the fuel adjustment charge four times a year without prior approval?
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