SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 25, 2002
AMEREN CORPORATION
(Exact name of registrant as specified in its charter)
Missouri 1-14756 43-1723446
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1901 Chouteau Avenue, St. Louis, Missouri 63103
(Address of principal executive offices and Zip Code)
Registrant's telephone number, including area code: (314) 621-3222
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
On July 25, 2002, the Registrant issued a press release stating that
the Missouri Public Service Commission on July 25, approved a joint settlement
reached in the earnings complaint case filed by the Missouri Public Service
Commission staff against Union Electric Company d/b/a AmerenUE, the Registrant's
subsidiary, in July 2001. On July 16, 2002, AmerenUE and all other parties
participating in the case submitted the joint settlement to the Missouri Public
Service Commission. The press release is attached as Exhibit 99 and is
incorporated herein by reference.
ITEM 7. EXHIBITS
(c) Exhibits.
99 Press release, dated July 25, 2002, issued by the Registrant.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AMEREN CORPORATION
(Registrant)
By /s/ Martin J. Lyons
-------------------------------
Name: Martin J. Lyons
Title: Controller
(Principal Accounting Officer)
Date: July 25, 2002
Exhibit Index
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Exhibit No. Description
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99 - Press release dated July 25, 2002, issued by Ameren Corporation.
EXHIBIT 99
[GRAPHIC OMITTED][GRAPHIC OMITTED]
One Ameren Plaza
1901 Chouteau Avenue
St. Louis, MO 63103
Contact:
Analysts: Media: Investors:
Bruce Steinke Susan Gallagher Investor Services
(314) 554-2574 (314) 554-2175 Invest@ameren.com
FOR IMMEDIATE RELEASE
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MISSOURI PUBLIC SERVICE COMMISSION APPROVES SETTLEMENT
REACHED IN AMERENUE ELECTRIC RATE CASE
St. Louis, MO, July 25, 2002---The Missouri Public Service Commission today
unanimously approved a settlement reached in the electric rate case of AmerenUE,
a utility subsidiary of Ameren Corporation (NYSE: AEE). On July 16, AmerenUE and
all other parties participating in the electric rate case submitted the joint
settlement to the Missouri Public Service Commission.
The joint settlement includes a rate moratorium through June 30, 2006, the
phase-in of $110 million in electric rate reductions, over $2 billion in
critical energy infrastructure commitments from the company, and $26 million in
funding during the term of the plan for several important programs that will
benefit low-income consumers, enhance energy conservation and support the
state's economic development efforts. In addition, the settlement calls for an
overall reduction in the companys depreciation expense by $20 million per year.
Under the joint settlement, AmerenUE's Missouri retail electric customers
will also begin receiving, in August or September, $40 million in credits-a
one-time benefit averaging $14.50 per residential customer. The $40 million in
credits result from the final settlement of earnings sharing benefits under the
experimental alternative regulation plan (EARP), which expired June 30, 2001.
Under that plan, stockholders and customers shared earnings between certain
regulatory return-on-equity thresholds.
"Obviously, we are very pleased with the Commission's timely review and
approval of the settlement agreement," said Charles W. Mueller, chairman and
chief executive officer, Ameren Corporation. "This settlement will provide
significant benefits to our customers and to the state of Missouri, while
ensuring the future energy needs of the state."
"The approved agreement offers AmerenUE electric customers significant rate
reductions, coupled with rate stability and continued strong reliability," added
Gary L. Rainwater, president and chief operating officer, Ameren Corporation.
"The settlement will also provide the company with financial flexibility in
addition to meaningful incentives to improve its operations and enable it to
deliver solid investor returns."
The joint settlement came in response to an excess earnings complaint case
filed by the Missouri Public Service Commission staff against AmerenUE in July
2001. Copies of the now-approved joint agreement can be obtained from the MoPSC
website at http://www.psc.state.mo.us.
AmerenUE is a subsidiary of St. Louis-based Ameren Corporation. Ameren
companies serve 1.5 million electric customers and 300,000 natural gas customers
in a 44,500-square-mile area of Missouri and Illinois.
Safe Harbor Statement
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Statements made in this release, which are not based on historical facts,
are "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, Ameren is providing this
cautionary statement to identify important factors that could cause actual
results to differ materially from those anticipated. The factors discussed in
Ameren's annual report on SEC Form 10-K for the fiscal year ended December 31,
2001, and subsequent securities filings, could cause results to differ
materially from management expectations as suggested by such "forward-looking"
statements.