The document summarizes an investor meeting hosted by Bank of America Securities. It provides an agenda of the meeting and details on Ameren attendees. It also includes regulatory statements, an overview of Ameren as a regional electric and gas utility, highlights of their regulated and non-regulated operations, details of a comprehensive settlement in Illinois, and environmental and financial profiles.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
1. West Coast Investor Meetings
August 27 - 29, 2007
Sponsored by
Bank of America Securities
2. Ameren Attendees
Warner Baxter
Executive Vice President and CFO
Marty Lyons
VP and Controller
Bruce Steinke
Assistant Controller and Manager-
Investor Relations
2
3. Cautionary Statements
Regulation G Statement
Ameren has presented certain information in this presentation on a diluted cents per share
basis. These diluted per share amounts reflect certain factors that directly impact Ameren’s total
earnings per share. 2006 non-GAAP earnings per share excludes the impact of the severe 2006
storms and 2007 non-GAAP earnings per share excludes the impact of the severe January 2007
storms, the reversal of accruals made in 2006 for low-income energy assistance and energy
efficiency program funding commitments in Illinois and the March 2007 Federal Energy
Regulatory Commission Order, which retroactively adjusted prior years’ regional transmission
organization costs. 2007 non-GAAP earnings per share guidance also excludes the impact of the
July 2007 agreement among parties in Illinois for comprehensive rate relief and customer
assistance. Ameren believes this information is useful because it enables readers to better
understand the impact of these factors on Ameren’s results of operations and earnings per
share.
Forward-looking Statements
Statements made in this presentation, 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. In addition to factors
discussed in this presentation, Ameren’s periodic reports filed with the SEC under the Securities
Exchange Act of 1934 contain a list of factors and a discussion of risk factors, which could cause
actual results to differ materially from management expectations as suggested by such
“forward-looking” statements. All “forward-looking” statements included in this presentation
are based upon information presently available, and Ameren assumes no obligation to update
any “forward-looking” statements.
3
4. Ameren Overview
Regional electric and gas utility
Missouri regulated generation,
transmission and delivery business
1.2 million electric and 125,000 gas
customers
Illinois regulated transmission and
delivery businesses
1.2 million electric and 840,000 gas
customers
Non-rate-regulated generation business
NYSE-listed under AEE Ameren Service Territory
AmerenUE
Market cap. > $10 billion AmerenCIPS
AmerenCILCO
Component of the S&P 500 AmerenIP
4
5. Investment Highlights
Focused on the Basics - the generation of electricity, and the
distribution of electricity and natural gas
Top tier dividend yield (~ 5%)
Top 5 in S&P Electric Utilities Index
Top 10 in S&P 500 Index
Solid total return potential
Opportunities to earn better returns in regulated businesses in the
future
Opportunities to improve non-rate regulated generation plant
performance
Strong balance sheet, conservative financial management
Recent credit ratings pressure due to Illinois political situation
5
6. Regulated Operations
Missouri Missouri Regulated Coal-fired Generation
9,900 MW generation Net Capacity Factor Equivalent Availability Factor
• Low-cost 7,000 MW baseload 95
coal-fired and nuclear fleet 90
85
Rates approximately 40%
Percentage
80
below national average 75
70
Illinois 65
60
Legislative settlement 55
Current rates approximate 50
2003 2004 2005 2006
national average
Strategic focus
Customer satisfaction
Infrastructure investment
Operational improvements
Cost control
Regulatory/legislative matters
6
7. Illinois Settlement
Comprehensive $1 billion settlement among key stakeholders.
Key provisions include the following:
Ameren Illinois electric customers to receive $488 million; Ameren
will fund $150 million
Earnings per share will be reduced by approximately 26, 11, 7
and 1 cents per share in 2007, 2008, 2009 and 2010,
respectively, as a result of the rate relief package
Current power procurement process will be modified
If legislation is enacted prior to August 1, 2011, freezing or
reducing electric rates or imposing a new tax, special assessment
or fee on the generation of electricity, then remaining
commitments will expire and any funds set aside in support of the
commitments will be returned to the contributing utilities and
electric generators
Constructively resolves significant legislative, regulatory and
legal uncertainty and avoids potential for significant incremental
costs
7
8. Illinois Settlement - Swap
Ameren Illinois utilities entered into a swap agreement with an affiliate
to lock-in prices for a portion of power requirements from 2008 through
2012 at relevant market prices (a)
Period Volume
6/1/08 to 12/31/08 400 MW
1/1/09 to 05/31/09 400 MW
6/1/09 to 12/31/09 800 MW
1/1/10 to 5/31/10 800 MW
6/1/10 to 12/31/10 1,000 MW
1/1/11 to 12/31/11 1,000 MW
1/1/12 to 12/31/12 1,000 MW
(a) New market prices will be set when the legislation is enacted.
If any of the following events occur, negotiations may be undertaken so
as to preserve the economic benefits of the agreement. If unable to
negotiate a settlement, the swap agreement may be terminated in 60 to
90 days after the event occurs.
a state tax is enacted on electric generation
a state or federal tax is enacted on or regulation of greenhouse gas
emissions
a state law is enacted that eliminates retail electric supplier choice for the
residential and small commercial customers
8
9. Final Missouri Rate Orders
$43 million annual electric rate increase and $6 million annual
gas rate increase
Return on equity of 10.2%
No fuel and purchased power mechanism granted
Expiration of EEI contract resolved favorably
Depreciation rates and income tax method were modified
Annualized pre-tax impact of rate orders approximates
$110 million
9
10. Regulated Opportunities
Illinois
Incremental rate base investment and operating expenditures
expected in order to improve reliability
Earned return on equity is expected to be less than allowed returns
on equity due to underrecovery of costs and infrastructure
investment (regulatory lag) until additional rate relief granted
Expect to file electric and gas rate cases by the end of 2007
Missouri
Incremental rate base investment and operating expenditures
expected in order to improve reliability
Incremental rate base investment also expected for mandated
environmental upgrades and potentially new baseload generation
in the future
Earned return on equity is expected to be less than allowed returns
on equity due to rising costs and infrastructure investment
(regulatory lag) until additional rate relief granted
Actively evaluating timing of next electric rate case
10
11. Non-rate-regulated Generation
6,500 MW generation
Low-cost 4,600 MW baseload
coal-fired fleet
Mandated environmental
expenditure requirements
Strategic focus
Investing to improve equivalent
availability and capacity factors Non-rate-regulated Coal-fired Generation
Multi-year marketing strategy Net Capacity Factor Equivalent Availability Factor
95
Targeting to hedge 85-90% of
90
2008 generation 85
Percentage
Low-priced legacy contracts 80
75
expire (~$36 per Mwhr)
70
MISO Ancillary Services market 65
development 60
55
Cost control 50
2003 2004 2005 2006
11
14. 2007 Earnings Reconciliation
Q2 YTD
2006 GAAP Earnings per Share $0.60 $0.94
2006 Severe storm-related costs – 0.03
2006 Non-GAAP Earnings per Share $0.60 $0.97
Electric and gas margins 0.26 0.72
Weather (estimate) 0.05 0.10
Fuel prices (0.05) (0.08)
Callaway outages (0.09) (0.09)
Labor and benefits (0.02) (0.08)
Bad debt expense (0.03) (0.05)
Depreciation (0.02) (0.07)
Dilution and financing, net (0.04) (0.08)
Taum Sauk 0.05 0.05
Other (0.02) (0.01)
2007 Non-GAAP Earnings per Share $0.69 $1.38
2007 Severe storm-related costs – (0.09)
December 2006 IL contribution plan termination – 0.05
FERC Order – MISO charges – (0.05)
2007 GAAP Earnings per Share $0.69 $1.29
14
15. 2007 Earnings Guidance
(Issued and effective as of August 2, 2007)
2006 GAAP Earnings per Share $ 2.66
2006 Severe storm-related costs 0.26
2006 Non-GAAP Earnings per Share $ 2.92
Illinois regulated margins, net (0.01)
Missouri regulated rates (midpoint) 0.20
Other electric margins 1.28
Fuel costs (0.28)
Weather 0.09
Callaway refueling outage (0.09)
Plant maintenance (0.15)
Distribution system reliability (0.08)
Labor and employee benefits (0.16)
Bad debt expense (0.08)
Depreciation and amortization (0.08)
Dilution and financing, net (0.17)
Taum Sauk 0.15
Emission allowance sales (0.17)
Sale of non-core properties (0.16)
ICC December 2006 order - contributions 0.05
Other, net 0.01
2007 Non-GAAP EPS Guidance Range (a) $3.15 - $3.40
2007 Severe storm-related costs (0.09)
Illinois settlement (0.26)
December 2006 IL contribution plan termination 0.05
FERC Order – MISO charges (0.05)
2007 GAAP EPS Guidance Range (a) $2.80 - $3.05
(a) Variances reflect single point estimates, but a range of outcomes could occur around each of these variables.
15
16. 2007 Segment Guidance
(Issued and effective as of August 2, 2007)
Net Income (in millions)
Missouri Regulated $ 305
Illinois Regulated 100
Non-rate-regulated Generation 275
Other (3)
2007 Non-GAAP Net Income Guidance Range(a) $650 - $705
(a) Ameren’s earnings guidance for 2007 excludes costs related to severe January 2007 storms and the impact
of the July 2007 agreement among parties in Illinois for comprehensive rate relief and customer assistance
and the March 2007 Federal Energy Regulatory Commission Order, which retroactively adjusted prior years’
regional transmission organization costs. Segment contributions reflect single point estimates, but a range of
outcomes could occur around each segment’s earnings.
16
17. Environmental 2007) Strategy
(Issued and effective as of August 2,
Clean Air Interstate (CAIR) and Mercury Rules expected to require
reductions in SO2, NOx and mercury emissions over the next 10 years
Agreement with Illinois EPA for SO2, NOx, mercury and fine particulates
Expected CAIR and mercury rule-related capital expenditures:
(in millions) 2007 2008 - 2011 2012 – 2016 Total
AmerenUE $110 $630 - $ 830 $910 - $1,180 $1,650 - $2,120
Genco 110 820 - 1,060 180 - 260 1,110 - 1,430
AERG 100 185 - 240 95 - 140 380 - 480
EEI 10 185 - 240 165 - 220 360 - 470
Total Ameren $330 $1,820 - $2,370 $1,350 - $1,800 $3,500 - $4,500
Continue to experience rising cost pressures for labor and materials
Does not include any expenditures associated with any potential carbon
emission control legislation
Regulated costs (nearly 50%) are expected to be recoverable in rates
Environmental cost recovery mechanism rules being developed in Missouri
17
18. Financial Profile
Conservative financial and
operating strategy
June 2007
48% debt/capitalization
Credit ratings Debt, net $ 6,334(a)
Preferred stock 195
S&P = BBB-, negative credit
watch Common equity 6,618
Total capitalization $13,147
Moody’s = Baa2, review for
possible downgrade
Fitch = BBB+, stable
Debt Maturities
IL credit rating downgrades due
to IL political/regulatory
uncertainty 2007 $ 52
2008 206
Agencies have indicated they will
reevaluate when legislation is 2009 374
enacted
Manageable debt maturities
(a) Net of cash and notes receivable associated with two
Available credit facilities and cash capital leases
18
20. Illinois Background
10-year electric rate freeze and power supply contracts expired at
the end of 2006
AmerenCIPS, AmerenCILCO and AmerenIP (Ameren Illinois
utilities) electric delivery service rate increases granted in
November 2006
Power supply auction completed in September 2006
New electric rates went into effect January 2, 2007
Estimated average annual residential overall increase of 40% to
55%; 60% to 80% for electric heat customers
Various legislators had supported legislation to roll back and
freeze electric rates at 2006 levels as well as to tax Illinois
generators. Illinois governor had also expressed support for a
rate rollback and freeze.
Enactment of legislation would have had significant operational and
financial consequences
20
21. Major IL Settlement Terms
Ameren, Exelon, leaders of the General Assembly, the Office of
the Illinois Attorney General and other generators reached an
agreement on rate relief and a new long-term power
procurement model
Terms of the agreement are set forth in legislation (House
Amendment No. 5 to Senate Bill 1592), in a letter to the leaders of
the Illinois General Assembly and the Illinois Attorney General, in a
release and settlement agreement with the Illinois Attorney
General and in funding agreements
Customer rate relief and assistance programs commitments
Ameren Illinois utilities, Commonwealth Edison and certain Illinois
generating companies will fund $976 million of state-wide rate
relief and customer assistance over four years (2007 – 2010) and
$25 million to fund new Illinois Power Agency (IPA)
Ameren Illinois utilities’ customers to receive $488 million
Electric bill credits and cash refunds
Assistance programs include targeting the special needs of
eligible low-income customers, senior citizens and small
businesses
21
22. Major IL Settlement Terms
Ameren subsidiaries to fund $150 million of the package
(AmerenCIPS - $21 million; AmerenCILCO - $11 million;
AmerenIP - $28 million; Ameren Energy Generating Company -
$62 million; AmerenEnergy Resources Generating Company -
$28 million)
Total Relief/Assistance to Ameren Ameren
Ameren Illinois Customers Subsidiaries’ Funding Estimated
(a)
(in millions) (in millions) EPS Impact
2007 $253 $ 86 26¢
2008 132 37 11
2009 97 25 7
2010 6 2 1
Total $488 $150 45¢
(a) Includes $4.5 million contribution towards funding of IPA
If legislation is enacted prior to August 1, 2011, freezing or
reducing electric rates or imposing a new tax, special
assessment or fee on the generation of electricity, then
remaining commitments will expire and any funds set aside in
support of the commitments will be returned to the contributing
utilities and electric generators
22
23. Major IL Settlement Terms
Current power procurement process will be modified
Current reverse auction process will be discontinued immediately
In 2008, utilities will acquire necessary power requirements for June
2008 through May 2009, subject to Illinois Commerce Commission
(ICC) review and approval through a request-for-proposal (RFP)
process
Existing supply contracts will be honored
Creation of IPA to develop procurement plan, design procurement
process and buy power for Illinois utilities beginning in June 2009
Process will be based on acquiring separate baseload, intermediate and
peaking power
RFP procurement process with benchmarks as guidelines
Third party administrator will be hired by IPA
ICC will still review and approve power supply needs, procurement
process and procurement results
Results of IPA procurement process will be deemed prudent and
recoverable in rates
Illinois utilities may lease, or invest in, generation assets, subject to
ICC approval
23
24. Major IL Settlement Terms
The Illinois Attorney General will file motions to withdraw all
pending litigation and regulatory actions relating to the reverse
auction procurement process and the electric space heating
marketing activities of the Ameren Illinois utilities
Other settlement terms
Renewable portfolio standard
Customer classes at 1 MW and above to be declared competitive in
2008 and customer classes at 400 KW and above to be declared
competitive no later than 2010. Residential and small commercial
classes cannot be declared competitive before 2012
RTO membership allowed through July 2022
Energy efficiency and demand response programs to be
implemented, with costs deemed prudent and recoverable
Forgiveness of outstanding customer late payment fees
Accelerated regulatory review reestablished for utility
restructurings, including the ability to merge the three Ameren
Illinois utilities
Limits for customer cutoffs
24
25. Settlement Investor Benefits
Comprehensive settlement among key stakeholders that
addresses short-term rate relief and long-term power
procurement issues
Supported by AARP and Citizens Utility Board
Constructively resolves significant legislative, regulatory and
legal uncertainty
Even if rate rollback and freeze legislation had been overturned
by courts, operating environment would have remained very
challenging
Eliminates risks associated with bankruptcy filings (both
operational and financial) in the event the courts would not
have provided timely relief or adequate relief
Mitigates or eliminates significant potential incremental costs
25
26. Settlement Investor Benefits
No rate caps or revenue deferrals
No prohibition on ability to file delivery service rate cases
Greater stability surrounding future power procurement/energy
marketplace
Legislature/Illinois Attorney General participation and acceptance
ICC will still play a significant role
Pass-through mechanism for purchased power
Market-based wholesale generation sales can continue
Hedged open generation position at around-the-clock market
prices
Allows management to continue to focus on strategy
implementation and operations
26
28. Final Missouri Rate Orders
$43 million annual electric rate increase and $6 million annual
gas rate increase
Return on equity of 10.2%
No fuel and purchased power mechanism granted – permitted to
request again in future
Certain aspects subject to legal appeal
Expiration of EEI contract resolved favorably
No rate base disallowances for recent combustion turbine
acquisitions
Callaway and fossil generation plant lives extended –
depreciation to be reduced in rates and for financial reporting
Income tax method changed – reducing income tax expense in
rates and for financial reporting
Regulatory tracking mechanisms for pension and
postretirement benefit costs, and SO2 emission allowance
transactions 28
29. Missouri Rate Orders
Annual impact of rate orders (in millions, before taxes)
Electric rate increase $ 43
Gas rate increase 6
Depreciation rate change 33
Income tax method change 25
SO2 allowance sales 5
Total pre-tax net income effect $ 112
Rate effect included in original earnings guidance $ 103(a)
(a) Represented an arbitrary midpoint between AmerenUE’s and the Missouri Public Service
Commission Staff’s rate recommendations
Prior guidance assumed rate change would begin June 1, which
was generally consistent with the rate order
Approximately 60% of increase will impact 2007
29
30. Major Regulatory Proceedings
Illinois
Web site (http://eweb.icc.state.il.us/e-docket)
Case # 06-0070, 06-0071, 06-0072 - Delivery services rate increases
(Rehearing order issued)
Case # 07-0165 – Investigation of rate design
Missouri
Web site (http://www.psc.mo.gov/efis.asp)
Case # ER-2007-0002 – Electric rate case (Order issued)
Case # GR-2007-0003 – Gas rate case (Order issued)
Case # ES-2007-0474 – Taum Sauk incident investigation
30