Slide 1: Making an Impact: First Quarter 2016 Earnings
Making anImpact First Quarter 2016 Earnings May 11, 2016
Slide 2: Cautionary Statements
Cautionary Statements Forward-looking Statements Statements in this presentation 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 s
Slide 3: Business Update
Business Update Warner Baxter Chairman, President and Chief Executive Officer, Ameren Corp.
Slide 4: Earnings Summary
Earnings Summary Diluted EPS Key Earnings Variance Drivers: Q1 2015 vs. Q1 2016 Lower retail electric and natural gas sales volumes primarily driven by milder first quarter 2016 temperatures – Milder temperatures ~$(0.10) $0.45 $0.43 – Net effect of reduced electric sales to Noranda Decreased ef
Slide 5: Business Update
Business Update Our strategic plan Capital • Investing in and operating our utilities in a manner consistent with existing Expenditures regulatory frameworks YTD Mar. 31 • Enhancing regulatory frameworks and advocating for responsible energy policies • Creating and capitalizing on opportunities for
Slide 6: Business Update, cont’d
Business Update, cont’d Executing our plan, cont’d • Illinois electric and natural gas delivery – Invested ~$145 million in delivery infrastructure projects in the first three months of 2016 • Installation of advanced meters, replacement of aging distribution infrastructure – Customer benefits: impr
Slide 7: Long-Term Total Return Outlook
Long-Term Total Return Outlook1 • Expect ~6.5% compound annual rate base growth from 2015 through 2020 2015 to 2020E Regulated 5-Yr Rate – Strong pipeline of investments to benefit customers Infrastructure Rate Base2 Base CAGR and shareholders $16.7 ~6.5% • Expect 5% to 8% compound annual EPS growth
Slide 8: Financial Update
Financial Update Marty Lyons Executive Vice President and Chief Financial Officer, Ameren Corp.
Slide 9: Earnings Summary
Earnings Summary Diluted EPS Key Earnings Variance Drivers: Q1 2015 vs. Q1 2016 Lower electric and natural gas sales volumes – Milder weather: ~$(0.10) vs. Q1 2015 and ~$(0.05) vs. normal – Net effect of reduced electric sales to Noranda: $(0.03) $0.45 Carryover effect of Missouri 2013-2015 ener
Slide 10: 2016 Earnings Guidance
2016 Earnings Guidance Select 2016 balance of year EPS considerations: 2016E Diluted EPS • Return to normal temperatures Q2-Q3 2016 ~flat; Q4 2016 ~+$0.08 $2.60 Q2-Q4 2016 compared to Q2-Q4 2015: $2.40 Increased electric transmission and delivery infrastructure investments by ATXI and Ameren Ill
Slide 11: Select Pending Regulatory Matters
Select Pending Regulatory Matters Illinois Commerce Federal Energy Regulatory Commission Commission • Filed in April 2016 for required annual electric • Cases seek to reduce Ameren Illinois’ and ATXI’s delivery service formula rate update transmission service allowed base ROE of 12.38% – Filed for $
Slide 12: Summary
Summary Q1 2016 earnings were solid • Affirm 2016 diluted EPS guidance range of $2.40 to $2.60 Successfully executing our strategy Strong long-term growth outlook • Expect ~6.5% compound annual rate base growth from 2015 through 20201 • Expect 5% to 8% compound annual EPS growth from 2016 through 20
Slide 13: Appendix
Appendix
Slide 14: FERC-Regulated Transmission Investment
FERC-Regulated Transmission Investment Planned $3.0 billion investment – 2016-20201 – $1.0 billion of regional multi-value projects at ATXI Regional – $2.0 billion of local reliability and connecting portions of regional Multi-Value Projects multi-value projects at Ameren Illinois Total Multi-Value
Slide 15: Noranda’s Impact on Ameren Expected to be Temporary
Noranda’s Impact on Ameren Expected to be Temporary • Noranda Aluminum’s Background 2016 Expected – Ameren Missouri supplies electricity to Noranda’s aluminum smelter Diluted EPS – Ameren Missouri’s largest customer: ~4% of revenues and ~10% of MWh sales in 2015 Impact from – Noranda’s portion of Am
Slide 16: New Ameren Missouri Energy Efficiency Plan
New Ameren Missouri Energy Efficiency Plan New MEEIA Plan For March 2016 - Feb. 2019 Stipulation and agreement approved by MoPSC on Feb. 10, 2016 • Reflects continued commitment to offering cost-effective and realistically achievable energy efficiency programs to customers • Will provide estimated n
Slide 17: Select Regulatory Matters
Select Regulatory Matters Illinois Commerce Commission • Recently filed electric delivery rate update: Docket No. 16-0262 • Website: http://www.icc.illinois.gov Missouri Public Service Commission • Order granting CCN for ATXI’s Mark Twain transmission project: Docket No. EA-2015-0146 • Website: http
Slide 18: Investor Relations Calendar
Investor Relations Calendar MAY 2016 MON. TUES. WED. THUR. FRI. SAT. 1 2 3 4 5 6 7 Q1 2016 Quiet Period, continued 8 9 10 11 12 13 14 Q1 2016 Q1 2016 Earnings Earnings Release Call 15 16 17 18 19 20 21 Mid- Mid- AGA Atlantic Atlantic Conf. Meetings Meetings 22 23 24 25 26 27 28 29 30 31 • May 10 Q1
Slide 19: Glossary of Terms and Abbreviations
Glossary of Terms and Abbreviations ALJ - Administrative Law Judge. FERC - Federal Energy Regulatory Commission. ATXI - Ameren Transmission Company of Illinois. ICC - Illinois Commerce Commission. B - Billion. MEEIA - Missouri Energy Efficiency Investment Act. CAGR - Compound annual growth rate. MIS