Ameren waving goodbye to Illinois power plant business - chicagotribune.com: "Three months after winning a five-year extension to meet environmental regulations for its Illinois coal plants, Ameren Corp. will walk away from them.
The St. Louis-based holding company said weak power prices and looming costly environmental plant upgrades mean its unregulated power plants aren't profitable enough.
"This business segment is no longer a core component of (Ameren's) future business strategy," the company said in a filing.
Ameren plans to write off the plants in the fourth quarter, taking an estimated pretax charge of $1.5 billion to $2 billion. The generating business itself will take a pretax charge of $50 million to $300 million in the fourth quarter, the company said, as it will continue to own those assets as it eventually plans to divest itself of that business.
The market responded positively to the news. Ameren stock rose 3.7 percent Thursday to close at $31.17 a share."
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