UE EARNINGS UP

ST. LOUIS Union Electric Company (NYSE:UEP) reported 1990 earnings on common stock of $279.5 million, or $2.74 a share, up 5 percent from the 1989 earnings of $266.5 million, or $2.61 per share.

Fourth quarter earnings were depressed by abnormally mild fall temperatures, along with costs of a scheduled refueling outage at the firm's Callaway nuclear plant. Earning for the quarter were $12.5 million, or 12 cents a share, down from last year's final quarter earnings of $42.5 million or 41 cents a share.

Kilowatt-hour sales rose 1 percent for the year. Commercial sales increased 1.3 percent, industrial sales were up 1.2 percent and industrial sales were up 1.2 percent.

According to a rate agreement reached last fall, UE reduced annual electric rates for Missouri commercial and industrial customers by 3.2 and 4.5 percent respectively.

Union Electric serve almost a million electric customers in its 24,000 square mile service territory.