JEFFERSON CITY, Mo., May 8, 2012 — Today the Missouri Energy Development Association (MEDA) and Missourians for Affordable Renewable Energy (MARE) announce that California-based Earth Island Institute, Inc./Renew Missouri’s (EII) new renewable energy mandate initiative petition (formally known as Initiative Petition’s 2012-105 or 2012-129) effort was unable to produce the necessary amount of signatures to the Secretary of State’s Office by the signature collection deadline of May 6, 2012. Therefore, no renewable energy mandate initiative petitions will be eligible for the November 2012 election ballot.

“MEDA, MARE, and additional business and labor coalition partners worked extremely hard to protect Missouri’s residential and small business energy consumers by defeating the rampant rate increases that would have resulted from EII’s costly mandate,” said Trey Davis, president of MEDA. “The initiative petition filed by California-based special interests would have severely increased electric rates to fund a government mandate for renewable energy and create a new tax on Missourians to expand state government, while directly benefiting a select few renewable developers and large industrial consumers.”

MEDA has been working diligently since 2008 to put into action the original renewable energy mandate, Proposition C, so that investment is promoted and consumers are protected. As recently as December 27, 2011, the Cole County Circuit Court ruled in favor of MEDA’s argument that Proposition C provides a 1 percent rate increase limit, not 10 percent plus like was argued for by EII, and that a utility may comply with the standard by purchasing renewable energy credits and facilitating a broad market within which the credits can be traded and consumer costs can be kept low.
While continuing to advocate for legal and legislative remedies to fully implement Missouri’s current standard, MEDA’s investor-owned electric members remain committed to developing renewable energy resources. Collectively, MEDA members invest millions of dollars of incentives to encourage small scale customer owned solar energy systems, deliver now, and in the future, nearly 1000 MW of wind energy to customers, continue to deliver clean hydroelectric generation, and invest in valuable new landfill and bioenergy gas to energy projects across Missouri.
“Missouri’s electric utilities support renewable energy and have a demonstrated history of investing in electricity generated from wind, solar, hydro, and new energy technologies whenever it is in the best interest of the customers we serve,” said Trey Davis, president of MEDA.

“MEDA will continue to shine the light on EII’s effort to mandate that hard-working Missourians pay the costly freight for a select few renewable energy developers and large industrial consumers. MEDA will also maintain the fight to protect residential and small business consumers from excessive rate increases, while questioning the lack of engagement on these critical issues from such “consumer advocate” organizations as AARP, Consumer Council of Missouri, and the Fair Electric Rate Action Fund (FERAF). MEDA supports renewable energy, but cannot support a new costly mandate, on top of an existing mandate, that would have negatively impacted so many for the benefit of just a few,” said Davis.

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About MEDA: MEDA’s primary members are investor-owned electric, gas, and water utility companies in the State of Missouri. The purpose of MEDA is to develop, organize, and promote measures that will advance the ability of investor-owned utilities to BUILD, MAINTAIN, PROTECT, and PROVIDE the utility infrastructure and services that are critical to the economic well-being of all Missourians.

Ameren LogoST. LOUIS, April 19, 2012 /PRNewswire/ — Today, Ameren Missouri, a utility company of Ameren Corporation (NYSE: AEE), announced it has entered into an agreement with Westinghouse Electric Company, a proven, global leader in nuclear energy and small modular reactor technology development, to exclusively support Westinghouse’s application for the Department of Energy’s (DOE) Small Modular Reactors (SMR) investment funds of up to $452 million. The investment funding, announced by the DOE on March 22, will support first-of-its-kind engineering, design certifications and operating licenses for up to two SMR designs over five years.

The objectives of the DOE program are to support efforts for the United States to become the global leader in the design, engineering, manufacturing and sale of American-made SMRs around the world, as well as expand our nation’s options for nuclear power. Westinghouse expects to submit the investment fund application by mid-May. A final decision on awarding the investment funds is expected in the summer of 2012.

“Our agreement with Westinghouse is consistent with our commitment to taking proactive steps today to maintain important generation options to meet our state’s energy needs in the future,” said Ameren Missouri Chairman, President and CEO Warner Baxter. “The recently announced DOE program presents Missouri with a tremendous opportunity to save Missouri customers millions of dollars associated with operating license development costs. Equally important, winning the DOE competitive process positions Missouri for a transformational economic development opportunity which includes becoming the hub for the engineering design, development, manufacturing and construction of American-made SMR technology in Missouri, in the United States and around the world.”

“Our focus at the Callaway Energy Center is on safety. When we evaluated the Westinghouse SMR, we were really impressed with the enhanced safety features. The reactor and containment building are below ground, which provides additional protection from natural disasters. The Westinghouse SMR has a simple design and can be safely shutdown after a loss of power with very little operator action. All of this makes for a very attractive package,” explained Ameren Missouri Chief Nuclear Officer Adam Heflin.

All of Missouri’s electric energy providers, which includes Ameren Missouri, the Association of Missouri Electric Cooperatives, Associated Electric Cooperative, Inc., The Empire District Electric Company, Kansas City Power & Light Company, and the Missouri Public Utility Alliance, have also committed to supporting the Westinghouse application to the DOE.

Associated Electric Cooperative, Inc. CEO and General Manager Jim Jura said, “This unprecedented alliance of electric energy providers reflects our collective commitment to take important steps today to address our state’s long-term energy needs and position Missouri for a tremendous economic development opportunity in the future.”

Should Westinghouse be awarded DOE investment funds, Ameren Missouri will be the first utility in the country to seek a Combined Construction and Operating license (COL) for a Westinghouse SMR. A COL is issued by the Nuclear Regulatory Commission (NRC) to construct and operate a nuclear power plant at a specific site in accordance with established laws and regulations. Obtaining a COL from the NRC does not obligate Ameren Missouri or Missouri’s other electric energy providers to build a SMR at the Callaway site; however, it does preserve an important energy option and positions Missouri to move forward in a timely fashion should conditions be right to build a SMR in the future.

“We are excited and eager to begin this historic alliance with Missouri and Ameren Missouri to further develop nuclear energy technology while bringing economic benefits to the state of Missouri. As we were first in developing and licensing passive reactor technology with the AP1000® reactor, Westinghouse, along with Ameren Missouri and the State of Missouri will be the first movers in the next generation of nuclear technology, the Westinghouse SMR,” said Westinghouse Chief Technology Officer and Senior Vice President Dr. Kate Jackson.

Westinghouse selected Missouri as the best choice because the state offers a strong nuclear operator with an excellent site for development, expertise to support and obtain a COL, an unprecedented alliance of electric energy providers, investment and supportive actions to date for new nuclear development, strong support from key state and federal policy makers, including Governor Jay Nixon, Senator Mike Kehoe and Representative Jeanie Riddle, and broad public support, including labor, suppliers, and businesses.

“Designing, developing and commercializing next-generation nuclear technology will create good jobs for Missourians, expand our global exports, and ensure that Missouri has affordable, abundant, safe and reliable power for generations to come,” Governor Jay Nixon said.

“It is important to remember that in addition to this effort helping to secure Missouri’s energy future, it is also helping to secure in-state, good-paying, sustainable jobs for Missouri’s families,” said St. Louis Building & Construction Trade Council Executive Secretary-Treasurer Jeff Aboussie.

University of Missouri System President Tim Wolfe, noted, “The extraordinary nuclear engineering programs on the University of Missouri campuses provide unique opportunities to collaborate with Westinghouse and Ameren Missouri to advance SMR technology by providing for research, education and training expansion in our nuclear energy programs, as well as many of our other engineering programs.”

Baxter noted, “The hard work, strong leadership and forward-thinking approach to energy and economic policymaking of key legislative leaders including Governor Nixon, Senator Kehoe, and Representative Riddle were vital in leading Westinghouse to take notice of Missouri.”

In light of developments associated with the recently announced DOE program, legislative efforts surrounding the cost recovery for activities associated with obtaining an Early Site Permit from the NRC have been placed on hold while the state of Missouri seeks to capitalize on this significant opportunity. Future legislative needs associated with nuclear energy will be determined subsequent to the DOE’s investment fund decision.

The Westinghouse SMR is a 225 megawatts (MW) nuclear reactor with advanced safety and power features. The Westinghouse SMR technology is based on the AP1000® pressurized water reactor, a design that has already been licensed by the NRC. Eight AP1000 units are currently being constructed: four in China, with the first unit expected to come online in 2013, and four units in the United States, the first of which is expected to come online in 2016. The SMR will be manufactured in modules that are truck, barge and rail shippable and assembled on the plant site. This approach is designed to reduce construction time and costs.

Click here to view the Westinghouse release regarding the announcement.
Click here to view the Missouri Governor’s office release regarding the announcement.

Click here to view the Forward Looking Statements at AmerenMissouri.

Ameren Missouri has been providing electric and gas service for more than a century, and our electric rates are among the lowest in the nation. We serve 1.2 million electric and 127,000 natural gas customers in central and eastern Missouri. Our mission is to meet their energy needs in a safe, reliable, efficient and environmentally responsible manner. Our service area covers 63 counties and 500 towns, including the greater St. Louis area. For more information, visit AmerenMissouri.com.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world’s pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world’s first pressurized water reactor in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world’s operating nuclear plants.

SOURCE Ameren Missouri

GeoDigital will survey approximately 400 miles of transmission line throughout the Empire service territory. While flying directly overhead of transmission lines, GeoDigital will capture data using LiDAR or light detection and ranging technology. The data will be utilized to analyze changes in transmission system corridors and clearance ranges.

Empire inspects transmission lines regularly to identify and correct potential problems with the transmission system. This allows the Company to continue safe and reliable delivery of energy to our customers.

Based in Joplin, Missouri, The Empire District Electric Company (NYSE: EDE) is an investor-owned, regulated utility providing electric, natural gas (through its wholly owned subsidiary The Empire District Gas Company), and water service, with approximately 215,000 customers in Missouri, Kansas, Oklahoma, and Arkansas. A subsidiary of the company provides fiber optic services. For more information regarding Empire, visit www.empiredistrict.com.

• All smart meter radio frequencies are approved by the  Federal Communications Commission (FCC).
• Testing of smart meters includes a large margin of safety.
• Water meters are typically mounted in meter pits at the curb, on exterior walls, basements or crawl space areas – locations where people are not consistently exposed (as opposed to cell phones that are inches from the body).
• Sources of electromagnetic frequencies (EMFs) include cell phones, household wiring, etc., and these sources are far more common and powerful and typically closer to human activity
• There are no clear adverse health effects from radio waves.
• Extensive testing has already been done although additional studies are ongoing

Don’t Be Fooled by Mis-Information!

The “Emergency Recovery Award” is presented annually to showcase efforts made by electric utilities to restore service that has been breached by severe weather conditions or other natural events. Nominations for this award are taken internationally, and winners are selected by a panel of former executives of investor-owned utilities throughout the United States.

Empire received recognition for the rapid response and restoration efforts made following the tornado that tore through the Joplin and Duquesne communities leaving approximately 20,000 customers without service. Empire lost about 4,000 poles and 100 miles of line. Within 10 days, power was restored to customers who were able to receive service. At that point, approximately 8,000 customers were unable to have service reconnected. By August, the number was reduced to 3,900 and, at the end of 2011, the system-wide customer count was down by only 1,800.

In describing the experience, Martin Penning, vice president of commercial operations at Empire, stated, “In our 102-year history, this was the most devastating storm to impact our company. The work of our employees and those of the companies who came to our aid immediately following the storm was exemplary. We are proud of the work that has been done and are focused on the reconstruction that continues. The outpouring of help from countless groups and individuals all across the country has been extraordinary, and we are honored to be a part of it.”

The Edison Electric Institute (EEI) is the association of U.S. shareholder-owned electric companies. Its members serve 95 percent of the ultimate customers in the shareholder-owned segment of the industry, and represent approximately 70 percent of the U.S. electric power industry. The organization also has more than 65 international electric companies as Affiliate members, and more than 170 industry suppliers and related organizations as Associate members.

Based in Joplin, Missouri, The Empire District Electric Company (NYSE: EDE) is an investor-owned, regulated utility providing electric, natural gas (through its wholly owned subsidiary The Empire District Gas Company) and water service, with approximately 215,000 customers in Missouri, Kansas, Oklahoma and Arkansas. A subsidiary of the Company also provides fiber optic services.

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Last year, we encouraged Missouri American Water employees to get serious about banning the use of Styrofoam cups, plates and bowls in our operations. Today, I’m announcing that there is to be no further company purchase of Styrofoam cups, plates and bowls at any of our locations. I know some districts have already implemented this change but our goal is 100 percent compliance.

Why implement this ban when we are trying to reduce costs and Styrofoam is cheaper than biodegradable materials? Every day, nearly 1,400 tons of Styrofoam goes into our nation’s landfills, taking up nearly one-third of total landfill area. Because of the many centuries (that’s right, centuries) needed for decomposition of Styrofoam, it is considered non-biodegradable. The Environmental Protection Agency (EPA) established this product as the fifth-largest source of hazardous waste in 1986 (yes, that’s 25 years ago).

As part of our sustainability goal, and our desire to be more environmental friendly, we are long overdue in halting our use of Styrofoam – especially since there are so many environmentally-friendly options. For example, instead of using a Styrofoam cup for your coffee, why not use a glass or ceramic mug that can be washed and used over and over again?

After the current stock of Styrofoam cups, plates and bowls is depleted at your location, these items should not be reordered. If you need a small supply (for visitors) of disposable cups, plates or bowls on hand, please order something that is made of recycled materials, is biodegradable, or preferably both.

Special thanks to everyone who has already been working to be more environmentally conscious. I ask that we work even harder going forward to be good stewards of the environment. After all, as a water and wastewater utility, we depend on and must contribute to a clean and safe environment.

JEFFERSON CITY, MO., March 1, 2012 – The Missouri Energy Development Association (MEDA) applauds a formal complaint filed by a Missouri citizen this week with the Missouri Ethics Commission (MEC). The complaint challenges the take-over of Renew Missouri by the Berkeley, California-based Earth Island Institute Inc. (EII), a nonprofit entity which is using Renew Missouri’s name to conduct a political campaign in Missouri.

The complaint charges EII with multiple campaign finance violations relating to their sponsorship of Initiative Petitions 2012-105 and 2012-129, which propose a new and egregious renewable energy mandate for Missouri energy providers that will have a detrimental impact on families, seniors, and small businesses.

“Thanks to the take-over by EII, Renew Missouri no longer exists. Instead, California-based EII has operated with the resources of a large, tax-exempt organization – and in the process, managed to evade the Missouri campaign finance guidelines other non-profits of this capacity strictly adhere to,” said Trey Davis, President of MEDA. “It is out of respect for Missouri’s campaign finance laws and the best interest of Missourians that the MEC investigate EII’s decision to engage in Missouri campaign activity by using ‘Renew Missouri’ as a fictitious name.”

In 2008, a majority of Missourians supported and passed Proposition C, a measure that mandates more electricity from renewable sources. The mandate would not increase customer rates by more than one percent to comply with the mandate. MEDA and its members have worked hard in the subsequent rulemaking process, the legislature, and the courts to protect Missouri customers against any excessive rate increases.

However, California-based EII’s new initiative petitions will result in dramatic rate increases for residential and small business customers. In fact, some Missouri businesses would see rates increase 140 percent and see a 13,000 percent difference in their costs of renewables versus what they voted for in 2008 as a result of California-based EII’s initiative petitions. This difference would not be a positive one for Missourians.

That is why MEDA supports Senate Bill 759, sponsored by Sen. Brad Lager (Chair of the Senate Commerce, Consumer Protection, Energy and the Environment Committee) and House Bill 1487, sponsored by Rep. Darrell Pollock (Chair of the House Utilities Committee) – legislation that clearly implements Proposition C while protecting customers against unnecessary rate increases.

The complaint against California-based EII states that through a “host of activities” undertaken through the “Renew Missouri” project, EII has effectively operated as the sponsor of these energy initiatives – without registering as a political action or campaign committee, or disclosing any out-of-state expenditures or contributions.

Such activities include distributing Renew Missouri-branded materials without legally-required EII disclaimer language, soliciting donations, and advocating in support of the initiatives, among other questionable activities.

Renew Missouri is registered as a “Fictitious Active” name with the Missouri Secretary of State, with EII listed as the legal owner. A Columbia, Missouri address is listed alongside EII.

MEDA once again applauds this complaint and urges the MEC to take swift action to protect Missouri’s families, seniors, and small businesses.

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About MEDA: MEDA’s primary members are investor-owned electric, gas, and water utility companies in the State of Missouri. The purpose of MEDA is to develop, organize, and promote measures that will advance the ability of investor-owned utilities to BUILD, MAINTAIN, PROTECT, and PROVIDE the utility infrastructure and services that are critical to the economic well-being of all Missourians.

The purpose of MEDA is to develop, organize, and promote measures that will advance the ability of investor-owned utilities to build, maintain, protect, and provide the utility infrastructure and services that are critical to the economic well being of all Missourians.

MEDA members, representing electric, water, and gas providers, have a combined total of 3,837,322 customers in Missouri and employ more than 11,500 people. From 2007-2009, MEDA member companies spent over $4.8 billion on capital expenditures and our companies and their employees continually contribute millions of dollars and thousands of hours in helping others in their communities.

We are service providers, large employers, tax payers, investors, job creators, utility consumers, and local community members and supporters. We are long-standing corporate citizens in Missouri and the region and we work to provide a reliable and low-cost service for our customers.

MEDA members are helping residential customers, businesses of all sizes, and regulators and elected officials find answers to the tough questions we all face. As we move forward, MEDA continues to be dedicated to addressing our state’s infrastructure needs through a proper regulatory framework and efficient investment mechanisms. Job creation, generation and delivery of safe, reliable, and affordable energy, and the protection of customers are at the core of every business decision we make and every policy idea we bring forth.

Our investor-owned members are publicly traded and regulated by the Missouri Public Service Commission. While much of
2011 was spent debating in and out of the halls of the capitol the importance of a cost effective, diverse, safe, and reliable energy policy that protects customers, there have also been extensive discussions on how to improve upon the state’s regulatory climate.

Effective and efficient policies in both the legislative and regulatory spheres are critical to MEDA member’s ability to provide the highest quality of service for our customers at the lowest prices. This past year has been wrought with unimaginable loss and devastation in every corner of the state, with MEDA members working day and night to restore service capabilities as quickly as possible so neighbors and communities may focus on taking care of one another and rebuilding for a better tomorrow.

It is in these great challenges that lie even greater opportunities. The opportunity for a tomorrow with continued low rates, diverse and cost-effective generation options, and safe and reliable production.

Explore our web site to learn more about MEDA’s hard-working members and how they are fighting for a better
tomorrow each and every day in Missouri for their customers. We also invite you to follow us on Twitter @meda4missouri and join our Facebook page.

The time is now for solutions and MEDA looks forward to working with you as we move Missouri’s energy future forward!

ST. LOUIS, Feb. 23, 2012 — Ameren Corporation (NYSE: AEE) today announced 2011 net income in accordance with generally accepted accounting principles (GAAP) of $519 million, or $2.15 per share, compared to 2010 GAAP net income of $139 million, or 58 cents per share. 2011 GAAP net income included $77 million and 2010 GAAP net income included $522 million of goodwill, impairment and other charges, after taxes. Excluding these charges and certain other items that are discussed below, Ameren recorded 2011 core (non-GAAP) net income of $619 million, or $2.56 per share, compared to 2010 core (non-GAAP) net income of $657 million, or $2.75 per share.

The decrease in 2011 core (non-GAAP) earnings, compared to 2010 core (non-GAAP) earnings, primarily reflected lower electric sales to native load utility customers due, in part, to summer temperatures that, while warmer than normal, were below those of a very hot 2010, as well as reduced margins in the merchant generation segment due to lower realized power prices and higher fuel and transportation-related expenses. The earnings comparison was also impacted by higher storm-related expenses and lower capitalized financing costs, as well as a 2011 charge to earnings resulting from a Missouri Public Service Commission requirement that certain revenues be flowed through the fuel adjustment clause. The effects of these factors were partially offset by increased electric utility rates in Missouri and Illinois, lower non-fuel operations and maintenance expenses and reduced interest costs.

“I am pleased to report that 2011 core earnings were in line with the increased guidance range we provided in early November. Continued disciplined cost management allowed us to offset the negative impact on sales of much warmer-than-normal fourth-quarter winter temperatures,” said Thomas R. Voss, chairman, president and CEO of Ameren Corporation. “I am proud of our many accomplishments in 2011. These included investing more than $1 billion primarily in new regulated utility infrastructure; generating enough cash from operations to fund these investments and an increased common dividend while also reducing outstanding borrowings; and posting strong energy center and storm restoration performance.

“In addition, during 2011, Illinois enacted legislation that enables us to invest in the state to improve infrastructure and create jobs,” Voss added. “Further, important steps were taken by the Federal Energy Regulatory Commission and the Midwest Independent Transmission System Operator allowing us to begin improving the region’s transmission system.”

For the fourth quarter of 2011, Ameren recorded GAAP net income of $25 million, or 10 cents per share, compared to $52 million, or 21 cents per share, for the fourth quarter of 2010. Excluding certain items that are discussed below, Ameren recorded core (non-GAAP) net income of $34 million, or 14 cents per share, for the fourth quarter of 2011, compared to core (non-GAAP) net income of $56 million, or 22 cents per share, for the fourth quarter of 2010.

The decrease in core (non-GAAP) earnings for the fourth quarter of 2011, compared to core (non-GAAP) earnings for the fourth quarter of 2010, primarily reflected lower electric and natural gas sales to native load utility customers due, in part, to warmer winter temperatures, as well as a scheduled nuclear refueling and maintenance outage at the Callaway Energy Center. In 2010, a Callaway refueling outage occurred in the spring. In addition, margins in the merchant generation segment declined due to lower realized power prices and higher fuel and transportation-related expenses. The effects of these factors were partially offset by lower non-fuel operations and maintenance expenses and increased electric rates in Missouri and Illinois.

The following items were excluded from fourth quarter and full year 2011 and 2010 core (non-GAAP) earnings, as applicable:

• Employee separation charges related to a voluntary retirement offer, which decreased net income by $17 million in both the fourth quarter and full year of 2011;
• The net effect of unrealized mark-to-market activity, which increased net income by $8 million and decreased net income by $6 million in the fourth quarter and full year of 2011, respectively, and decreased net income by $4 million and increased net income by $17 million in the fourth quarter and full year of 2010, respectively;
• Goodwill, impairment and other charges, which decreased net income by $77 million in the full year of 2011 and $522 million in the full year of 2010. The 2011 charges were the result of the Missouri Public Service Commission’s disallowance of costs of enhancements related to the rebuilding of the Taum Sauk Energy Center, as well as new environmental rules, the primary impact of which was Ameren’s decision to cease operations at the Meredosia and Hutsonville energy centers. The 2010 charges were for goodwill and other impairments at the merchant generation segment; and
• A charge for the impact on deferred taxes of changes in federal health care laws, which decreased net income by $13 million in the full year of 2010.

A reconciliation of GAAP to core (non-GAAP) earnings per share is as follows:

2012 Earnings Guidance

“In 2012, we are taking actions to accelerate infrastructure investment and create jobs in our Illinois electric delivery and our transmission businesses. These investments will benefit customers by improving reliability and providing savings through greater efficiencies, and we expect these investments to earn fair returns for our investors,” said Mr. Voss.

Ameren expects 2012 GAAP and core (non-GAAP) earnings to be in the range of $2.20 to $2.50 per share. Any net unrealized mark-to-market gains or losses will impact GAAP earnings but are excluded from GAAP earnings guidance because the company is unable to reasonably estimate the impact of any such gains or losses. Core (non-GAAP) earnings and guidance also exclude any net unrealized mark-to-market gains or losses.

The projected decline in 2012 core (non-GAAP) earnings per share, compared to 2011, is primarily due to expected lower margins at Ameren’s merchant generation business segment and the impact of an assumed return to normal temperatures. The expected merchant generation margin decline in 2012, compared to 2011, reflects expected lower realized power prices and higher fuel and transportation-related costs. A return to normal temperatures will reduce 2012 margins at the regulated utility business segments primarily because 2011 summer temperatures, while below those of a very hot 2010, were still much warmer than normal. The earnings impact of the above factors is expected to be mitigated by increased Missouri electric and Illinois gas rates and reduced non-fuel operations and maintenance expenses in Missouri.

Ameren expects its business segments to provide the following contributions to 2012 GAAP and core (non-GAAP) earnings per share:

Ameren’s earnings guidance for 2012 assumes normal temperatures for the full year. In addition, Ameren’s future results are subject to the effects of, among other things, regulatory decisions and legislative actions; energy center operations; energy, economic, and 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 2011 GAAP earnings were $287 million, compared to 2010 GAAP earnings of $364 million. Core (non-GAAP) earnings for 2011 were $359 million, compared to 2010 core (non-GAAP) earnings of $367 million. The decrease in core (non-GAAP) earnings reflected a 2.6 percent decrease in electric sales to native load customers due, in part, to cooler summer and warmer winter temperatures. In addition, capitalized financing expenses were lower and depreciation expense was higher primarily due to the completion of scrubbers at the Sioux Energy Center in late 2010. Further, storm-related expenses were higher in 2011 than in 2010 and 2011 earnings included a charge resulting from a Missouri Public Service Commission requirement that certain revenues be flowed through the fuel adjustment clause. The effects of these factors were partially offset by increased electric rates and lower non-fuel operations and maintenance expenses. The GAAP earnings comparison was impacted by the factors mentioned above, the 2011 charge related to the Taum Sauk Energy Center and 2011 employee separation charges. In addition, a charge for the impact on deferred taxes of changes in federal healthcare laws reduced 2010 earnings and net unrealized mark-to-market activity resulted in a 2010 gain.

Ameren Illinois Segment Results

Ameren Illinois segment 2011 GAAP and core (non-GAAP) earnings were $193 million, compared to 2010 GAAP and core (non-GAAP) earnings of $208 million. The decrease in core (non-GAAP) earnings reflected a 1.1 percent decrease in electric sales to native load customers due primarily to cooler summer and warmer winter temperatures. In addition, storm-related and depreciation expenses were higher in 2011 than in 2010. The effects of these factors were partially offset by increased electric rates and reduced interest expense. The GAAP earnings comparison was impacted by the factors mentioned above, a 2010 charge for the impact on deferred taxes of changes in federal healthcare laws and a 2010 gain from net unrealized mark-to-market activity.

Merchant Generation Segment Results

Merchant generation segment 2011 GAAP earnings were $45 million, compared to a 2010 GAAP loss of $409 million. Core (non-GAAP) earnings for 2011 were $72 million, compared to 2010 core (non-GAAP) earnings of $108 million. The decline in core (non-GAAP) earnings reflected lower margins due to lower realized power prices and higher fuel and transportation-related expenses. This margin decline was partially offset by reduced interest expense. The GAAP earnings comparison was affected by the factors mentioned above, the 2011 charge related to the closure of the Meredosia and Hutsonville energy centers and the 2010 charges for goodwill and other impairments. In addition, a charge for the impact on deferred taxes of changes in federal healthcare laws reduced 2010 earnings and net unrealized mark-to-market activity resulted in a 2011 loss, compared to a 2010 gain.

Analyst Conference Call

Ameren will conduct a conference call for financial analysts at 9 a.m. Central Time on Thursday, Feb. 23, to discuss 2011 earnings, 2012 guidance 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 “Q4 2011 Ameren Corporation Earnings Conference Call,” followed by the appropriate audio link. An accompanying slide presentation will be available on Ameren’s website. This presentation will be posted in the “Investors” section of the website under “Webcasts & Presentations.” The analyst call will also be available for replay on the Internet for one year. In addition, a telephone playback of the conference call will be available beginning at approximately noon Central Time from Feb. 23 through March 1, by dialing U.S. 877.660.6853 or international 201.612.7415, and entering account number 352 and ID number 388480.

With assets of $23 billion, St. Louis-based Ameren Corporation owns a diverse mix of electric energy centers strategically located in our Midwest market, with a generating capacity of 15,900 megawatts. Through our Missouri and Illinois subsidiaries, we serve 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area. Our mission is to meet our customers’ energy needs in a safe, reliable, efficient and environmentally-responsible manner. For more information, visit Ameren.com.

Regulation G Statement

Ameren has presented certain information in this release on a diluted cents per share basis. These diluted per share amounts reflect certain factors that directly impact Ameren’s total earnings per share. The core (non-GAAP) earnings per share and core (non-GAAP) earnings per share guidance exclude one or more of the following: employee separation charges, goodwill, impairment and other charges, net unrealized mark-to-market gains or losses and a charge for the deferred tax impact of changes in federal health care laws. Ameren uses core (non-GAAP) earnings internally for financial planning and for analysis of performance. Ameren also uses core (non-GAAP) earnings as primary performance measurements when communicating with analysts and investors regarding our earnings results and outlook, as the company believes that core (non-GAAP) earnings allow the company to more accurately compare its ongoing performance across periods.

In providing consolidated and segment core (non-GAAP) earnings guidance, there could be differences between core (non-GAAP) earnings and earnings prepared in accordance with GAAP as a result of our treatment of certain items, such as those listed 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 for the year ended December 31, 2010, 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:

• regulatory, judicial, or legislative actions, including changes in regulatory policies and ratemaking determinations, such as the outcome of Ameren Missouri’s and Ameren Illinois’ electric rate cases filed in 2012; Ameren Illinois’ natural gas rate order issued in 2012; the court appeals related to Ameren Missouri’s 2010 and 2011 electric rate orders; Ameren Illinois’ 2010 electric and natural gas rate order; Ameren Missouri’s fuel and purchased power cost recovery mechanism prudence review; and future regulatory, judicial, or legislative actions that seek to change regulatory recovery mechanisms, such as the recent passage of legislation providing for formula ratemaking in Illinois;
• the effect of Ameren Illinois participating in a new performance-based formula ratemaking process under the Illinois Energy Infrastructure Modernization Act (IEIMA), the related financial commitments required by the IEIMA and the resulting uncertain impact on the financial condition, results of operations and liquidity of Ameren Illinois;
• the effects of, or changes to, the Illinois power procurement process;
• changes in laws and other governmental actions, including monetary, fiscal, and tax policies;
• changes in laws or regulations that adversely affect the ability of electric distribution companies and other purchasers of wholesale electricity to pay their suppliers, including Ameren Missouri and Ameren Energy Marketing Company;
• the effects of increased competition in the future due to, among other things, deregulation of certain aspects of our business at both the state and federal levels, and the implementation of deregulation, such as occurred when the electric rate freeze and power supply contracts expired in Illinois at the end of 2006;
• the effects on demand for our services resulting from technological advances, including advances in energy efficiency and distributed generation sources, which generate electricity at the site of consumption;
• increasing capital expenditure and operating expense requirements and our ability to recover these costs through our regulatory frameworks;
• the effects of our and other members’ participation in, or potential withdrawal from, the Midwest Independent Transmission System Operator, Inc. (MISO) and the effects of new members joining MISO;
• the cost and availability of fuel such as coal, natural gas and enriched uranium used to produce electricity; the cost and availability of purchased power and natural gas for distribution; and the level and volatility of future market prices for such commodities, including the ability to recover the costs for such commodities;
• the effectiveness of our risk management strategies and the use of financial and derivative instruments;
• the level and volatility of future prices for power in the Midwest;
• the development of a capacity market within the MISO;
• business and economic conditions, including their impact on interest rates, bad debt expense, and demand for our products;
• disruptions of the capital markets or other events that make our access to necessary capital, including short-term credit and liquidity, impossible, more difficult, or more costly;
• our assessment of our liquidity;
• the impact of the adoption of new accounting guidance and the application of appropriate technical accounting rules and guidance;
• actions of credit rating agencies and the effects of such actions;
• the impact of weather conditions and other natural phenomena on us and our customers;
• the impact of system outages;
• generation, transmission and distribution asset construction, installation, performance, and cost recovery;
• the effects of our increasing investment in electric transmission projects and uncertainty as to whether we will achieve our expected returns in a timely fashion, if at all;
• the extent to which Ameren Missouri prevails in its claims against insurers in connection with its Taum Sauk pumped-storage hydroelectric energy center incident;
• the extent to which Ameren Missouri is permitted by its regulators to recover in rates the investments it made in connection with a proposed second unit at its Callaway Energy Center;
• impairments of long-lived assets, intangible assets, or goodwill;
• operation of Ameren Missouri’s Callaway Energy Center, including planned and unplanned outages, decommissioning costs and potential increased costs as a result of nuclear-related developments in Japan in 2011;
• the effects of strategic initiatives, including mergers, acquisitions and divestitures;
• the impact of current environmental regulations on utilities and power generating companies and new, more stringent or changing requirements, including those related to greenhouse gases, other emissions, cooling water intake structures, coal combustion residuals, and energy efficiency, that are enacted over time and that could limit or terminate the operation of certain of our generating units, increase our costs, result in an impairment of our assets, reduce our customers’ demand for electricity or natural gas, or otherwise have a negative financial effect;
• the impact of complying with renewable energy portfolio requirements in Missouri;
• labor disputes, workforce reductions, future wage and employee benefits costs, including changes in discount rates and returns on benefit plan assets;
• the inability of our counterparties and affiliates to meet their obligations with respect to contracts, credit facilities and financial instruments;
• the cost and availability of transmission capacity for the energy generated by our energy centers or required to satisfy energy sales made by us;
• legal and administrative proceedings; and
• acts of sabotage, war, terrorism, cybersecurity attacks or intentionally disruptive acts.

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.  

#  #  #

ST. LOUIS, Jan. 20, 2012 /PRNewswire/ — Today, Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), filed with the Missouri Public Service Commission (MPSC) a three-year plan that includes an aggressive portfolio of energy efficiency programs, the largest such plan in the state of Missouri. The expenditures for the new programs will be approximately twice the size of the utility company’s previous energy efficiency programs. The proposal is Ameren Missouri’s first request for approval of new and expanded energy efficiency programs under the Missouri Energy Efficiency Investment Act (MEEIA).

MEEIA represents a shift in energy policy towards partnering with customers to use energy more efficiently to meet future needs. Additionally, it provides clear objectives for the state of Missouri to pursue cost-effective energy efficiency programs, while requiring the programs be designed to ensure utilities’ financial incentives are aligned with helping customers use energy more efficiently.

“As utilities implement cost-effective energy efficiency programs under MEEIA it is a win-win for both customers and the utility companies,” explains State Senator Brad Lager, sponsor of the MEEIA legislation. “Customers will benefit from the savings, and utilities will be appropriately reimbursed for the costs of the energy efficiency programs.”

The programs include energy efficiency investments of approximately $145 million over three years, beginning early January 2013. These investments are expected to result in approximately $500 million in total customer benefits over the next 20 years. Annual energy savings are expected to be nearly 800 million kilowatthours, which is equal to the energy consumption of more than 60,000 average Missouri homes annually.

Costs and related incentives associated with this program will be reimbursed to Ameren Missouri over the next three to five years.

“Our proposed energy efficiency programs continue the significant commitment we have made to energy efficiency programs in the past,” says Warner L. Baxter, chairman, president and CEO of Ameren Missouri. “Since 2009, we have spent more than $70 million on energy efficiency programs resulting in more than 550 million kilowatthours saved, which is equal to the energy consumed by more than 42,000 average homes annually. Our current proposal will result in additional significant long-term benefits for our customers and the entire state of Missouri through lower energy usage.”

“Greater investments in energy efficiency and needed infrastructure are exactly the kind of investments needed to secure Missouri’s energy future. Investing in energy efficiency is a critical part of ensuring that we continue to produce the affordable and reliable energy necessary to attract and retain Missouri businesses,” says State Representative Steven Webb.

“Villa Lighting had great success in utilizing Ameren Missouri’s program. Through the program, we were able to work with many customers to install hundreds of thousands of dollars of lighting upgrades, many of which enabled customers to reduce their lighting-related energy consumption by as much as 40 percent,” notes Steve Barker, vice president of Sales, Villa Lighting Supply, Inc.

The MEEIA filing must be approved by the MPSC before it can take effect in early 2013.

Ameren Missouri has been providing electric and gas service for more than a century, and our electric rates are among the lowest in the nation. We serve 1.2 million electric and 126,000 natural gas customers in central and eastern Missouri. Our mission is to meet their energy needs in a safe, reliable, efficient and environmentally responsible manner. Our service area covers 63 counties and 500 towns, including the greater St. Louis area. For more information, visit AmerenMissouri.com.

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 our Annual Report on Form 10-K for the year ended December 31, 2010 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:

• regulatory, judicial, or legislative actions, including changes in regulatory policies and ratemaking determinations, such as the outcome of the pending the court appeals related to Ameren Missouri’s 2009, 2010, and 2011 electric rate orders; and future regulatory, judicial, or legislative actions that seek to change regulatory recovery mechanisms;
• changes in laws and other governmental actions, including monetary, fiscal, and tax policies;
• the effects on demand for our services resulting from technological advances, including advances in energy efficiency and distributed generation sources, which generate electricity at the site of consumption;
• increasing capital expenditure and operating expense requirements and our ability to recover these costs through our regulatory frameworks;
• the level and volatility of future prices for power in the Midwest;
• business and economic conditions, including their impact on bad debt expense and demand for our products;
• the impact of weather conditions and other natural phenomena on us and our customers;
• the impact of system outages; and
• the impact of current environmental regulations on utilities and power generating companies and the expectation that new or more stringent requirements, including those related to greenhouse gases, other emissions, and energy efficiency, will be enacted over time, which could limit or terminate the operation of certain of our generating units, increase our costs, result in an impairment of our assets, reduce our customers’ demand for electricity or natural gas, or otherwise have a negative financial effect.

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.

SOURCE Ameren Missouri