The financial report is a quarterly report for the period ended March 31, 2024, filed with the United States Securities and Exchange Commission. The report is for Ameren Corporation, a Missouri-incorporated company, and its subsidiaries, Union Electric Company and Ameren Illinois Company. The report provides financial information and updates on the company’s operations and performance during the quarter.
Title: Earnings Summary
The company’s net income attributable to common shareholders decreased by $3 million or 2 cents per share compared to the same period last year. This was primarily due to decreases in earnings from the parent company, Ameren Illinois Electric Distribution, and Ameren Missouri, partially offset by increases in earnings from Ameren Illinois Natural Gas and Ameren Transmission.
Title: Operating Revenues
The company’s total electric revenues decreased by $226 million or 14% compared to last year, primarily due to decreases at Ameren Missouri and Ameren Illinois Electric Distribution, partially offset by an increase at Ameren Transmission. Natural gas revenues decreased by $20 million or 4% compared to last year, primarily due to a decrease at Ameren Missouri.
Title: Fuel and Purchased Power
The company’s expenses for electric fuel and purchased power decreased by $280 million or 46% compared to last year. This was primarily driven by decreases at Ameren Missouri and Ameren Illinois Electric Distribution. Expenses for natural gas purchased for resale decreased by $57 million or 27% compared to last year, primarily due to decreases at Ameren Illinois Natural Gas and Ameren Missouri.
Title: Other Operations and Maintenance Expenses
The company’s other operations and maintenance expenses increased by $22 million compared to last year. This was primarily driven by increases at Ameren Missouri, Ameren Illinois Electric Distribution, and Ameren Transmission.
Title: Outlook
Key trends and events that may affect future results include inflationary pressures, regulatory proceedings and rate cases, infrastructure investments, transitions to cleaner energy generation, customer energy efficiency programs, legal proceedings related to emissions at power plants, and financing needs to support capital expenditures. The company plans to continue significant investments in its rate-regulated energy infrastructure while managing costs and seeking constructive regulatory outcomes.