Ameren Corporation announced its 2013 results Friday, with net income dropping slightly from the previous year. According to a company release, net income of $512 million was down from 2012's $516 million. The decrease in earnings from continuing operations reflected 2013 nuclear refueling outage expenses versus the prior year when there was no refueling outage and milder summer weather. Additional factors negatively affecting the earnings comparison included charges in 2013 related to Missouri and Illinois regulatory decisions and the absence in 2013 of a benefit related to a 2012 Federal Energy Regulator Commission decision. Ameren Illinois earnings were $160 million, up from the previous year's $141 million. The increase in earnings reflected higher electric delivery earnings recognized under formula ratemaking resulting from increased infrastructure investment; a higher allowed return on equity due to higher 30 year ratemaking. The earnings comparison also benefited from increased rates for transmission service, effective January 2013. These positive factors were partially offset by a fourth quarter 2013 charge for the ICC's disallowance of certain debt redemption costs.
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