Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
Capacity prices collapsed, and operating profit still rose
The auction cut revenue and energy costs together, so the regulated return, not energy prices, drives what Ameren earns.
For investorsWhat has to go right for the rate base to keep turning into profit?
For foundersSigning demand before building supply
Interest took the same share as a year earlier, so borrowing costs grew in step with the profit they fund.
Ameren spends more building than its operations bring in, so growth depends on raising debt and new shares.
More construction raises reported earnings even before new plants enter rates, through a credit for funds tied up in building.
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Business Lens describes Ameren from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
