ST. LOUIS, Aug. 5, 2016 /PRNewswire/ -- Ameren Corporation (NYSE: AEE) today announced second quarter 2016 GAAP and core (non-GAAP) net income attributable to common shareholders of $147 million, or 61 cents per share, compared to second quarter 2015 GAAP net income attributable to common shareholders of $150 million, or 61 cents per share. Excluding certain items discussed below, Ameren recorded second quarter 2015 core (non-GAAP) net income of $141 million, or 58 cents per share.
GAAP earnings for the second quarter of 2015 included results from discontinued operations and a loss provision for discontinuing the pursuit of a construction and operating license (COL) for a second Callaway nuclear unit that were excluded from core earnings. The year-over-year second quarter GAAP and core earnings comparisons reflect higher 2016 retail electric sales volumes, excluding those to Noranda Aluminum, driven by warmer early summer temperatures. Earnings in 2016 also benefited from increased electric transmission and electric and natural gas distribution infrastructure investments made by Ameren Transmission Company of Illinois (ATXI) and Ameren Illinois under modern, constructive regulatory frameworks. These positive factors were partially offset by expenses for a 2016 scheduled nuclear refueling and maintenance outage at Ameren Missouri's Callaway Energy Center and lower electric sales volumes to Noranda, historically Ameren Missouri's largest customer who suspended operations in early 2016.
"Our team continued to successfully execute all elements of our strategy. That performance drove solid second quarter earnings results, which also benefited from warmer-than-normal early summer temperatures," said Warner L. Baxter, chairman, president and chief executive officer of Ameren Corporation. "As a result of these solid earnings, I am pleased to report that we have raised our 2016 guidance to a range of $2.45 to $2.65 per share, up from our prior range of $2.40 to $2.60 per share."
Ameren recorded GAAP and core net income attributable to common shareholders for the six months ended June 30, 2016, of $252 million, or $1.04 per share, compared to GAAP net income attributable to common shareholders of $258 million, or $1.06 per share, for the same period in 2015. Excluding certain items discussed below, Ameren recorded core earnings of $249 million, or $1.03 per share, for the six months ended June 30, 2015.
GAAP earnings for the first six months of 2015 included results from discontinued operations and a provision for a Callaway COL that were excluded from core earnings. The year-over-year six-month GAAP and core earnings comparisons reflect increased 2016 electric transmission and electric and natural gas distribution infrastructure investments made by ATXI and Ameren Illinois. These comparisons also benefited from a decrease in the 2016 effective income tax rate due to the recognition of tax benefits associated with share-based compensation and from increased Illinois natural gas distribution service rates. These positive factors were partially offset by 2016 nuclear refueling and maintenance outage expenses at the Callaway Energy Center and lower electric sales volumes to Noranda. The earnings comparisons were also unfavorably affected by impacts of the 2015 Missouri energy efficiency plan.
As reflected in the table below, the following items were excluded from core earnings for the three- and six-month periods ended June 30, 2016 and 2015, as applicable:
A reconciliation of GAAP to core earnings, including per share amounts, is as follows:
(In millions, except per share amounts) | ||||||||||||||||||||||||
Three Months Ended |
Six Months Ended | |||||||||||||||||||||||
June 30, |
June 30, | |||||||||||||||||||||||
2016 |
2015 |
2016 |
2015 | |||||||||||||||||||||
GAAP Earnings / Diluted EPS |
$ |
147 |
$ |
0.61 |
$ |
150 |
$ |
0.61 |
$ |
252 |
$ |
1.04 |
$ |
258 |
$ |
1.06 |
||||||||
Results from discontinued operations |
||||||||||||||||||||||||
Operating income before income tax |
— |
— |
— |
— |
— |
— |
(3) |
(0.01) |
||||||||||||||||
Income tax benefit |
— |
— |
(52) |
(0.21) |
— |
— |
(49) |
(0.20) |
||||||||||||||||
Income from discontinued operations, net of taxes |
— |
— |
(52) |
(0.21) |
— |
— |
(52) |
(0.21) |
||||||||||||||||
Provision for Callaway COL |
||||||||||||||||||||||||
Provision before income tax |
— |
— |
69 |
0.29 |
— |
— |
69 |
0.29 |
||||||||||||||||
Income tax expense |
— |
— |
(26) |
(0.11) |
— |
— |
(26) |
(0.11) |
||||||||||||||||
Provision, net of taxes |
— |
— |
43 |
0.18 |
— |
— |
43 |
0.18 |
||||||||||||||||
Core Earnings / Diluted EPS |
$ |
147 |
$ |
0.61 |
$ |
141 |
$ |
0.58 |
$ |
252 |
$ |
1.04 |
$ |
249 |
$ |
1.03 |
Earnings Guidance
Ameren now expects its 2016 earnings to be in a range of $2.45 to $2.65 per diluted share, an increase from its prior range of $2.40 to $2.60 per diluted share. This updated guidance reflects year-to-date results and continues to include an estimated 15 cents per share reduction related to the expected temporary net effect of significantly lower electric sales volumes to Noranda.
Earnings guidance for 2016 assumes normal temperatures for the last six months of this year and is subject to the effects of, among other things: 30-year U.S. Treasury bond yields; regulatory decisions and legislative actions; energy center and energy distribution operations; energy, economic, capital and credit market conditions; severe storms; unusual or otherwise unexpected gains or losses; and other risks and uncertainties outlined, or referred to, in the Forward-looking Statements section of this press release.
Ameren Missouri Segment Results
Ameren Missouri segment second quarter 2016 GAAP and core earnings were $92 million, compared to second quarter 2015 GAAP and core earnings of $61 million and $104 million, respectively. GAAP earnings in 2015 included a provision for a Callaway COL that was excluded from core earnings. The year-over-year GAAP and core earnings comparisons reflect 2016 nuclear refueling and maintenance outage expenses at the Callaway Energy Center, lower electric sales volumes to Noranda, and the impacts of the 2015 energy efficiency plan. These unfavorable factors were partially offset by higher retail electric sales volumes in 2016, excluding those to Noranda, driven by warmer early summer temperatures, as well as lower other operations and maintenance expenses.
Ameren Illinois Segment Results
Ameren Illinois segment second quarter 2016 GAAP and core earnings were $45 million, compared to second quarter 2015 GAAP and core earnings of $31 million. The earnings comparisons benefited from increased investments in transmission and electric distribution infrastructure, increased natural gas distribution service rates, and higher residential and commercial electric sales volumes driven by warmer early summer temperatures.
Other Results from Continuing Operations, including ATXI and Parent
Other GAAP and core earnings, including those of ATXI and the parent company, for the second quarter of 2016 were $10 million, compared to second quarter 2015 GAAP and core earnings of $6 million. The higher earnings reflect an increase in ATXI earnings to $14 million from $7 million as a result of increased investments in electric transmission infrastructure, partially offset by increased parent company interest charges resulting from the November 2015 issuance of $700 million of senior notes that replaced lower-cost, short-term debt.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at 9 a.m. Central Time on Friday, Aug. 5, to discuss second quarter 2016 earnings, earnings guidance, and regulatory and other matters. Investors, the news media and the public may listen to a live Internet broadcast of the call at Ameren.com by clicking on "Q2 2016 Ameren Corporation Earnings Conference Call," followed by the appropriate audio link. An accompanying slide presentation will be available on Ameren's website. The conference call and this presentation will be accessible in the "Investors" section of the website under "Webcasts & Presentations." The analyst call will be available for replay on Ameren's website for one year. In addition, a telephone replay of the conference call will be available beginning at approximately noon Central Time from Aug. 6 through Aug. 12 by dialing U.S. and Canada 877.660.6853 or international 201.612.7415, and entering ID number 13641806.
About Ameren
St. Louis-based Ameren Corporation powers the quality of life for 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric distribution and transmission service as well as natural gas distribution service while Ameren Missouri provides vertically integrated electric service, with generating capacity of over 10,200 megawatts, and natural gas distribution service. Ameren Transmission Company of Illinois develops regional electric transmission projects. Follow the company on Twitter @AmerenCorp. For more information, visit Ameren.com.
Use of Non-GAAP Financial Measures
In this release, Ameren has presented core earnings, which is a non-GAAP measure and may not be comparable to those of other companies. A reconciliation of GAAP to non-GAAP results has been included in this release. Generally, core earnings or losses include earnings or losses attributable to Ameren common shareholders and exclude income or loss from discontinued operations and income or loss from significant discrete items that management does not consider representative of ongoing earnings, such as the Callaway COL provision. Ameren uses core earnings internally for financial planning and for analysis of performance. Ameren also uses core earnings as the primary performance measurement when communicating with analysts and investors regarding our earnings results and outlook, as the company believes that core earnings allow the company to more accurately compare its ongoing performance across periods. In providing core earnings guidance, there could be differences between core earnings and earnings prepared in accordance with GAAP as a result of our treatment of certain items, such as those described above. Ameren is unable to estimate the impact, if any, on future GAAP earnings of such items.
Forward-looking Statements
Statements in this release not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, strategies, objectives, events, conditions, and financial performance. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. The following factors, in addition to those discussed under Risk Factors in Ameren's Form 10-K, and elsewhere in this release and in our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:
New factors emerge from time to time and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. Except to the extent required by the federal securities laws, we undertake no obligation to update or revise publicly any forward-looking statements to reflect new information or future events.
AMEREN CORPORATION (AEE) CONSOLIDATED STATEMENT OF INCOME (Unaudited, in millions, except per share amounts) | |||||||||||||||
Three Months Ended |
Six Months Ended | ||||||||||||||
2016 |
2015 |
2016 |
2015 | ||||||||||||
Operating Revenues: |
|||||||||||||||
Electric |
$ |
1,274 |
$ |
1,250 |
$ |
2,376 |
$ |
2,393 |
|||||||
Gas |
153 |
151 |
485 |
564 |
|||||||||||
Total operating revenues |
1,427 |
1,401 |
2,861 |
2,957 |
|||||||||||
Operating Expenses: |
|||||||||||||||
Fuel |
166 |
205 |
369 |
411 |
|||||||||||
Purchased power |
135 |
101 |
273 |
240 |
|||||||||||
Gas purchased for resale |
41 |
46 |
193 |
282 |
|||||||||||
Other operations and maintenance |
435 |
427 |
835 |
828 |
|||||||||||
Provision for Callaway construction and operating license |
— |
69 |
— |
69 |
|||||||||||
Depreciation and amortization |
210 |
200 |
417 |
393 |
|||||||||||
Taxes other than income taxes |
115 |
116 |
229 |
241 |
|||||||||||
Total operating expenses |
1,102 |
1,164 |
2,316 |
2,464 |
|||||||||||
Operating Income |
325 |
237 |
545 |
493 |
|||||||||||
Other Income and Expense: |
|||||||||||||||
Miscellaneous income |
16 |
16 |
36 |
35 |
|||||||||||
Miscellaneous expense |
6 |
6 |
13 |
17 |
|||||||||||
Total other income |
10 |
10 |
23 |
18 |
|||||||||||
Interest Charges |
95 |
89 |
190 |
177 |
|||||||||||
Income Before Income Taxes |
240 |
158 |
378 |
334 |
|||||||||||
Income Taxes |
92 |
59 |
123 |
125 |
|||||||||||
Income from Continuing Operations |
148 |
99 |
255 |
209 |
|||||||||||
Income from Discontinued Operations, Net of Taxes |
— |
52 |
— |
52 |
|||||||||||
Net Income |
148 |
151 |
255 |
261 |
|||||||||||
Less: Net Income from Continuing Operations Attributable to Noncontrolling Interests |
1 |
1 |
3 |
3 |
|||||||||||
Net Income Attributable to Ameren Common Shareholders: |
|||||||||||||||
Continuing Operations |
147 |
98 |
252 |
206 |
|||||||||||
Discontinued Operations |
— |
52 |
— |
52 |
|||||||||||
Net Income Attributable to Ameren Common Shareholders |
$ |
147 |
$ |
150 |
$ |
252 |
$ |
258 |
|||||||
Earnings per Common Share – Basic and Diluted: |
|||||||||||||||
Continuing Operations |
$ |
0.61 |
$ |
0.40 |
$ |
1.04 |
$ |
0.85 |
|||||||
Discontinued Operations |
— |
0.21 |
— |
0.21 |
|||||||||||
Earnings per Common Share – Basic and Diluted |
$ |
0.61 |
$ |
0.61 |
$ |
1.04 |
$ |
1.06 |
|||||||
Average Common Shares Outstanding – Basic |
242.6 |
242.6 |
242.6 |
242.6 |
AMEREN CORPORATION (AEE) CONSOLIDATED BALANCE SHEET (Unaudited, in millions) | |||||||
June 30, |
December 31, | ||||||
ASSETS |
|||||||
Current Assets: |
|||||||
Cash and cash equivalents |
$ |
13 |
$ |
292 |
|||
Accounts receivable - trade (less allowance for doubtful accounts) |
445 |
388 |
|||||
Unbilled revenue |
328 |
239 |
|||||
Miscellaneous accounts receivable |
65 |
98 |
|||||
Materials and supplies |
515 |
538 |
|||||
Current regulatory assets |
146 |
260 |
|||||
Other current assets |
68 |
88 |
|||||
Assets of discontinued operations |
14 |
14 |
|||||
Total current assets |
1,594 |
1,917 |
|||||
Property and Plant, Net |
19,324 |
18,799 |
|||||
Investments and Other Assets: |
|||||||
Nuclear decommissioning trust fund |
582 |
556 |
|||||
Goodwill |
411 |
411 |
|||||
Regulatory assets |
1,330 |
1,382 |
|||||
Other assets |
552 |
575 |
|||||
Total investments and other assets |
2,875 |
2,924 |
|||||
TOTAL ASSETS |
$ |
23,793 |
$ |
23,640 |
|||
LIABILITIES AND EQUITY |
|||||||
Current Liabilities: |
|||||||
Current maturities of long-term debt |
$ |
431 |
$ |
395 |
|||
Short-term debt |
778 |
301 |
|||||
Accounts and wages payable |
499 |
777 |
|||||
Taxes accrued |
124 |
43 |
|||||
Interest accrued |
102 |
89 |
|||||
Customer deposits |
100 |
100 |
|||||
Current regulatory liabilities |
99 |
80 |
|||||
Other current liabilities |
270 |
279 |
|||||
Liabilities of discontinued operations |
27 |
29 |
|||||
Total current liabilities |
2,430 |
2,093 |
|||||
Long-term Debt, Net |
6,605 |
6,880 |
|||||
Deferred Credits and Other Liabilities: |
|||||||
Accumulated deferred income taxes, net |
4,028 |
3,885 |
|||||
Accumulated deferred investment tax credits |
57 |
60 |
|||||
Regulatory liabilities |
1,953 |
1,905 |
|||||
Asset retirement obligations |
629 |
618 |
|||||
Pension and other postretirement benefits |
537 |
580 |
|||||
Other deferred credits and liabilities |
490 |
531 |
|||||
Total deferred credits and other liabilities |
7,694 |
7,579 |
|||||
Ameren Corporation Shareholders' Equity: |
|||||||
Common stock |
2 |
2 |
|||||
Other paid-in capital, principally premium on common stock |
5,545 |
5,616 |
|||||
Retained earnings |
1,376 |
1,331 |
|||||
Accumulated other comprehensive loss |
(1) |
(3) |
|||||
Total Ameren Corporation shareholders' equity |
6,922 |
6,946 |
|||||
Noncontrolling Interests |
142 |
142 |
|||||
Total equity |
7,064 |
7,088 |
|||||
TOTAL LIABILITIES AND EQUITY |
$ |
23,793 |
$ |
23,640 |
AMEREN CORPORATION (AEE) CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited, in millions) | |||||||
Six Months Ended June 30, | |||||||
2016 |
2015 | ||||||
Cash Flows From Operating Activities: |
|||||||
Net income |
$ |
255 |
$ |
261 |
|||
(Income) from discontinued operations, net of taxes |
— |
(52) |
|||||
Adjustments to reconcile net income to net cash provided by operating activities: |
|||||||
Provision for Callaway construction and operating license |
— |
69 |
|||||
Depreciation and amortization |
419 |
387 |
|||||
Amortization of nuclear fuel |
38 |
47 |
|||||
Amortization of debt issuance costs and premium/discounts |
11 |
11 |
|||||
Deferred income taxes and investment tax credits, net |
134 |
116 |
|||||
Allowance for equity funds used during construction |
(13) |
(11) |
|||||
Share-based compensation costs |
12 |
14 |
|||||
Other |
(7) |
(13) |
|||||
Changes in assets and liabilities |
(84) |
(47) |
|||||
Net cash provided by operating activities – continuing operations |
765 |
782 |
|||||
Net cash used in operating activities – discontinued operations |
(2) |
(1) |
|||||
Net cash provided by operating activities |
763 |
781 |
|||||
Cash Flows From Investing Activities: |
|||||||
Capital expenditures |
(1,000) |
(846) |
|||||
Nuclear fuel expenditures |
(24) |
(28) |
|||||
Purchases of securities – nuclear decommissioning trust fund |
(201) |
(117) |
|||||
Sales and maturities of securities – nuclear decommissioning trust fund |
192 |
110 |
|||||
Proceeds from note receivable – Illinois Power Marketing Company |
— |
10 |
|||||
Contributions to note receivable – Illinois Power Marketing Company |
— |
(7) |
|||||
Other |
(2) |
3 |
|||||
Net cash used in investing activities – continuing operations |
(1,035) |
(875) |
|||||
Net cash used in investing activities – discontinued operations |
— |
— |
|||||
Net cash used in investing activities |
(1,035) |
(875) |
|||||
Cash Flows From Financing Activities: |
|||||||
Dividends on common stock |
(206) |
(199) |
|||||
Dividends paid to noncontrolling interest holders |
(3) |
(3) |
|||||
Short-term debt, net |
477 |
172 |
|||||
Maturities of long-term debt |
(389) |
(114) |
|||||
Issuances of long-term debt |
149 |
249 |
|||||
Employee payroll taxes related to share-based payments |
(32) |
(12) |
|||||
Capital issuance costs |
(1) |
(2) |
|||||
Other |
(2) |
— |
|||||
Net cash provided by (used in) financing activities – continuing operations |
(7) |
91 |
|||||
Net change in cash and cash equivalents |
(279) |
(3) |
|||||
Cash and cash equivalents at beginning of year |
292 |
5 |
|||||
Cash and cash equivalents at end of period |
$ |
13 |
$ |
2 |
AMEREN CORPORATION (AEE) OPERATING STATISTICS FROM CONTINUING OPERATIONS | |||||||||||||||
Three Months Ended |
Six Months Ended | ||||||||||||||
June 30, |
June 30, | ||||||||||||||
2016 |
2015 |
2016 |
2015 | ||||||||||||
Electric Sales - kilowatthours (in millions): |
|||||||||||||||
Ameren Missouri |
|||||||||||||||
Residential |
2,899 |
2,694 |
6,376 |
6,599 |
|||||||||||
Commercial |
3,610 |
3,556 |
7,079 |
7,145 |
|||||||||||
Industrial |
1,142 |
2,096 |
2,444 |
4,100 |
|||||||||||
Off-system |
1,373 |
2,113 |
3,264 |
3,837 |
|||||||||||
Other |
27 |
26 |
62 |
61 |
|||||||||||
Ameren Missouri total |
9,051 |
10,485 |
19,225 |
21,742 |
|||||||||||
Ameren Illinois |
|||||||||||||||
Residential |
|||||||||||||||
Power supply and delivery service |
972 |
1,024 |
2,196 |
2,443 |
|||||||||||
Delivery service only |
1,568 |
1,463 |
3,248 |
3,300 |
|||||||||||
Commercial |
|||||||||||||||
Power supply and delivery service |
657 |
651 |
1,374 |
1,396 |
|||||||||||
Delivery service only |
2,344 |
2,340 |
4,462 |
4,521 |
|||||||||||
Industrial |
|||||||||||||||
Power supply and delivery service |
166 |
430 |
295 |
903 |
|||||||||||
Delivery service only |
2,710 |
2,521 |
5,412 |
5,120 |
|||||||||||
Other |
119 |
121 |
263 |
267 |
|||||||||||
Ameren Illinois total |
8,536 |
8,550 |
17,250 |
17,950 |
|||||||||||
Eliminate affiliate sales |
(79) |
(88) |
(277) |
(96) |
|||||||||||
Ameren Total from Continuing Operations |
17,508 |
18,947 |
36,198 |
39,596 |
|||||||||||
Electric Revenues (in millions): |
|||||||||||||||
Ameren Missouri |
|||||||||||||||
Residential |
$ |
356 |
$ |
348 |
$ |
654 |
$ |
685 |
|||||||
Commercial |
326 |
328 |
566 |
576 |
|||||||||||
Industrial |
82 |
123 |
150 |
219 |
|||||||||||
Off-system |
61 |
45 |
119 |
89 |
|||||||||||
Other |
19 |
15 |
49 |
32 |
|||||||||||
Ameren Missouri total |
$ |
844 |
$ |
859 |
$ |
1,538 |
$ |
1,601 |
|||||||
Ameren Illinois |
|||||||||||||||
Residential |
|||||||||||||||
Power supply and delivery service |
$ |
105 |
$ |
107 |
$ |
225 |
$ |
218 |
|||||||
Delivery service only |
102 |
85 |
188 |
163 |
|||||||||||
Commercial |
|||||||||||||||
Power supply and delivery service |
56 |
53 |
117 |
107 |
|||||||||||
Delivery service only |
64 |
56 |
116 |
102 |
|||||||||||
Industrial |
|||||||||||||||
Power supply and delivery service |
7 |
19 |
13 |
39 |
|||||||||||
Delivery service only |
16 |
13 |
31 |
28 |
|||||||||||
Other |
61 |
53 |
113 |
119 |
|||||||||||
Ameren Illinois total |
$ |
411 |
$ |
386 |
$ |
803 |
$ |
776 |
|||||||
ATXI |
|||||||||||||||
Transmission services |
$ |
29 |
$ |
17 |
$ |
61 |
$ |
37 |
|||||||
Eliminate affiliate revenues |
(10) |
(12) |
(26) |
(21) |
|||||||||||
Ameren Total from Continuing Operations |
$ |
1,274 |
$ |
1,250 |
$ |
2,376 |
$ |
2,393 |
AMEREN CORPORATION (AEE) OPERATING STATISTICS FROM CONTINUING OPERATIONS | |||||||||||||
Three Months Ended |
Six Months Ended | ||||||||||||
June 30, |
June 30, | ||||||||||||
2016 |
2015 |
2016 |
2015 | ||||||||||
Electric Generation - kilowatthours (in millions): |
|||||||||||||
Ameren Missouri |
8,689 |
10,409 |
18,550 |
21,352 |
|||||||||
Fuel Cost per kilowatthour (in cents): |
|||||||||||||
Ameren Missouri |
1.973 |
1.783 |
1.904 |
1.839 |
|||||||||
Gas Sales - dekatherms (in thousands): |
|||||||||||||
Ameren Missouri |
3,001 |
2,876 |
10,225 |
10,820 |
|||||||||
Ameren Illinois |
29,846 |
27,269 |
91,552 |
99,058 |
|||||||||
Ameren Total |
32,847 |
30,145 |
101,777 |
109,878 |
|||||||||
June 30, |
December 31, | ||||||||||||
Common Stock: |
|||||||||||||
Shares outstanding (in millions) |
242.6 |
242.6 |
|||||||||||
Book value per share |
$ |
28.53 |
$ |
28.63 |
|||||||||
Capitalization Ratios: |
|||||||||||||
Common equity |
47 |
% |
48 |
% | |||||||||
Preferred stock |
1 |
% |
1 |
% | |||||||||
Debt, net of cash |
52 |
% |
51 |
% | |||||||||
SOURCE Ameren Corporation