UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
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):
January 27, 2009
|
Commission File Number
|
|
Exact Name of Registrant as
Specified in Charter;
State of Incorporation;
Address and Telephone Number
|
|
IRS Employer
Identification Number
|
|
|
|
|
|
|
|
1-14756
|
|
Ameren Corporation
(Missouri Corporation)
1901 Chouteau Avenue
St. Louis, Missouri 63103
(314) 621-3222
|
|
43-1723446
|
|
|
|
|
|
|
|
1-2967
|
|
Union Electric Company
(Missouri Corporation)
1901 Chouteau Avenue
St. Louis, MO 63103
(314) 621-3222
|
|
43-0559760
|
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrants under any of the following provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
ITEM
8.01 Other Events.
Reference
is made to Note 2 – Rate and Regulatory Matters to our financial statements
under Part I, Item 1. Financial Statements and to Outlook under Part I,
Item 2. Management’s Discussion and Analysis of Financial Condition and Results
of Operations, each in the Form 10-Q for the quarterly period ended September 30,
2008, of registrant Ameren Corporation and its registrant subsidiary, Union
Electric Company, doing business as AmerenUE (“UE”), for a discussion of UE’s
request to the Missouri Public Service Commission (“MoPSC”) for an increase in
its annual revenues for electric service.
As
previously reported, UE requested that the MoPSC approve an increase in its
annual revenues for electric service of $251 million based on a 10.9% return on
equity. UE also requested that the MoPSC
approve implementation of a fuel and purchased power cost recovery mechanism
and a vegetation management and infrastructure inspection and repair cost
recovery mechanism.
On January 27,
2009, the MoPSC issued an order approving an increase for UE in annual revenues
for electric service of approximately $162 million, based on a 10.76% return on
equity, a capital structure composed of 52% common equity and a rate base of
$5.8 billion. The MoPSC also approved UE’s
implementation of a fuel and purchased power cost recovery mechanism and a
vegetation management and infrastructure inspection cost tracking
mechanism. The fuel and purchased power
cost recovery mechanism provides for the adjustment of electric rates three
times per year for a pass through to customers of 95% of changes in fuel and
purchased power costs net of off-system revenues, subject to MoPSC prudency
review. The vegetation management and
infrastructure inspection cost tracking mechanism provides for the tracking of expenditures
that are greater or less than amounts provided for in UE’s annual revenues for
electric service in a particular year, subject to a 10% limitation on increases
in any one year. The tracked amounts may
be reflected in rates set in future rate cases. In addition, pursuant to the accounting order
issued by the MoPSC in April 2008, the MoPSC rate order concluded that the
$25 million of operations and maintenance expenses incurred as a result of a
severe ice storm in January 2007 should be amortized and recovered over a
five-year period starting March 1, 2009. The MoPSC also allowed recovery of $12 million
of costs associated with a March 2007 Federal Energy Regulatory Commission
order that resettled costs among Midwest Independent Transmission System
Operator market participants. The costs
were previously expensed, but will be recorded as a regulatory asset and
amortized over two years.
Rate
changes consistent with the MoPSC order, as well as the fuel and purchased
power cost recovery mechanism and vegetation management and infrastructure
inspection cost tracking mechanism, are expected to become effective on March 1,
2009 with UE’s filing and MoPSC’s acceptance of conforming tariffs. UE is evaluating the MoPSC’s order and has
not decided whether to seek rehearing of any aspect of the MoPSC’s order or
subsequently appeal any aspect of the order.
Moreover, any of the MoPSC Staff, the Missouri Office of Public Counsel
and the intervenor parties to this rate case may similarly seek rehearing or
(except in the case of the MoPSC Staff) subsequently appeal any aspect of the
order. UE cannot predict whether any
such application for rehearing or appeal will be filed, or the outcome if so
filed.
This
combined Form 8-K is being filed separately by Ameren and UE. Information contained herein relating to any
individual registrant has been filed by such registrant on its own behalf. No registrant makes any representation as to
information relating to any other registrant.
2
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, each registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized. The signature for each
undersigned company shall be deemed to relate only to matters having reference
to such company or its subsidiaries.
|
|
AMEREN CORPORATION
|
|
|
(Registrant)
|
|
|
|
|
|
/s/ Martin J. Lyons
|
|
|
Martin J. Lyons
|
|
|
Senior Vice President and Chief
Accounting Officer
|
|
|
|
|
|
|
|
|
UNION ELECTRIC COMPANY
|
|
|
(Registrant)
|
|
|
|
|
|
/s/ Martin J. Lyons
|
|
|
Martin J. Lyons
|
|
|
Senior Vice President and Chief
Accounting Officer
|
Date: January 28, 2009
3
