Ameren raises full-year outlook on fall in expenses, new service rates

Nov 8 (Reuters) - Ameren Corp raised the lower end of its full-year profit forecast on Wednesday, on the back of a fall in expenses and new service rates.

Utility companies benefit when costs related to operations and maintenance, which is one of the largest expense drivers, purchased power and fuel decline.

Ameren's operating expenses for the three months ended September 30 fell 15.3% from a year earlier.

The company which serves areas including U.S. states of Illinois and Missouri also saw its top-line results favorably impacted by new service rates at its Ameren Missouri segment which was effective from July 9, this year.

The St. Louis-based company now sees full-year earnings outlook between $4.30 and $4.45 per share, compared with previous forecast of $4.25-$4.45.

Ameren reported a net income of $493 million, or $1.87 per share, for the third quarter compared to $452 million, or $1.74 per share, a year earlier.

(Reporting by Saikeerthi in Bengaluru; Editing by Shilpi Majumdar and Krishna Chandra Eluri)