Dear Editor:
As a follow up to my Opinion response of Feb. 27, here is another indisputable fact regarding Ameren's profits as reported in the St Louis Post Dispatch of Feb. 22.
The following appeared in their business section (Lisa Brown) and I quote:
"Ameren soars*Shares in Ameren Corp. surged more than 5 percent to $40.88 after the St Louis-based company reported better-than-expected profits. Ameren got higher rates for transmission services and increased electric and gas sales volume from the cold winter. The company reported a profit of $37 million, or 15 cents a share, compared with a loss of $1.2 billion, or $4.76 a share, a year ago. The loss in the fourth quarter of 2012 resulted from Ameren's writing down the value of it's Illinois power plants as wholesale power prices declined. Excluding these Illinois power plants, Ameren's fourth-quarter earnings for continuing operations was 19 cents per share, which beat analysts' average estimate of 13 cents a share, according to Bloomberg. Ameren also said it's 2014 earnings per share for continuing operations will range from $2.25 and $ 2.45, which also was above analysts' estimate of $2.28."
Facts, don't you just love em.
Does this sound like a company struggling financially or needing monetary aide for infrastructure improvements? Additionally, Ameren stated that they received approval from state regulators that allows them construction on it's billion dollar high voltage line across Central Illinois. One wonders where that billion is coming from.
Ah-ha, I know where, they are going to have the audacity to ask for another rate increase later this year. It's time for the MPSC to act responsibly.