May 2 (Reuters) - Ameren Corp ( AEE ) posted a fall in
first-quarter profit on Thursday, hurt by low demand due to
milder weather in its service regions and a charge at its
Missouri unit.
The utility reported quarterly income of $261 million,
or 98 cents per share, compared to $264 million, or $1 per share
in the year-ago quarter.
Utility firms often see reduced demand if their service
regions experience moderate weather, putting them under pressure
to reduce costs and expenses.
"We remain committed to disciplined cost management, which
we expect to result in meaningful operations and maintenance
expense reductions in the second half of the year," said CEO
Martin Lyons.
Ameren ( AEE ) reported an about 11.9% decline in its operating
revenues to $1.82 billion during the quarter from a year ago.
Additionally, the company incurred a charge at Ameren
Missouri related to its Rush Island Energy Center litigation, as
part of its dispute with the Environmental Protection Agency
over air pollution emissions.
The utility, which serves 2.4 million electric customers,
reaffirmed its annual profit guidance between $4.52 and $4.72 on
a per-share basis.