UBS analyst Ross Fowler noted that the Illinois Commerce Commission issued its final ruling in the natural gas rate cases for subsidiaries of Ameren (AEE), Southern (SO) and WEC Energy (WEC) and called the authorization of ROEs below the Administrative Law Judge’s proposed ROEs “disappointing.” While the firm doesn’t believe these outcomes will “materially impact the companies longer-term EPS growth trajectory,” it believes investors will react “negatively” as it believes there was some optimism from investors that the ALJ positions in the gas cases would be largely affirmed.
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