Ameren subsidiary AmerenUE today revealed it had agreed to pay $177.4 million in damages for a collapsed reservoir in Missouri. The settlement has been signed by the appropriate state officials, but has yet to be approved by the Circuit Court of Reynolds County. Ameren will also be responsible for rebuilding the reservoir by autumn of 2009.
Technically speaking, the equity has met support at the 49 level and resistance at the 54 level since before the reservoirs demise in December 2005. AEE is still within that gap, with its 10-day and 20-day moving averages poised to make a bullish cross. As of 1:30 p.m., shares of Ameren have been somewhat benign regardless of the settlement news, trading up a third of a percent.