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Ameren Corporation Chooses Payformance Corporation(R) to Distribute 932,000 Rebate Checks
Oct 31, 2007 (08:10 AM EDT)
JACKSONVILLE, Fla., Oct. 31 /PRNewswire/ -- Payformance Corporation announced today that it has completed the printing and distribution of 932,000 checks on behalf of Ameren Corporation.
Electric rates in Illinois increased in January 2007 with the expiration of power contracts and the end of a nearly decade-long electric rate freeze. The Ameren Illinois utilities were required to purchase electricity from the open wholesale energy market and some customers saw significant increases in their electric bills over 2006.
As part of the Illinois General Assembly Rate Relief Program, a four-year rate relief package was crafted by Illinois legislative leaders, utilities, generating companies and others. The comprehensive $1 billion rate relief plan was designed to provide customers immediate short term relief, primarily in the form of rebate checks, and include additional assistance through 2009.
The Ameren Illinois utilities evaluated their options to print and deliver 932,000 rebate checks in a very short period of time. Company officials determined that internal printing resources would not be able to produce the volume of checks involved in the desired timeframe. The utilities scanned the market for a third party capable of handling the work and selected Payformance Corporation.
The Ameren Illinois utilities wanted Payformance to move forward aggressively. Data files were tested to ensure Payformance could process the Ameren Illinois utilities' check records. A check was designed on Payformance stock to match Ameren Corporation's graphic standards requirements. Ameren's bank tested check samples to ensure that bank scanning processes would work correctly to support Positive Pay. Payformance and the Ameren Illinois utilities accomplished all of these tasks in less than two weeks, with the first checks being printed on September 10.
Since then, more than $152 million in rate relief rebate checks and credits have been issued to Ameren Illinois utility electricity customers in the first phase of the $488 million rate relief package.
"I cannot say enough about the Payformance team. They quickly rallied to the challenge, were very professional and determined to meet our time table," said Diane Bortmess, Supervisor of Treasury Operations for Ameren. "Payformance exceeded our expectations by producing this large volume of checks efficiently and cost-effectively."
Throughout the printing and delivery process, the Ameren Illinois utilities maintained complete visibility through a secure, online application called PaySpan(R). Not only did PaySpan allow the utilities to verify file transfers, release jobs, monitor job status, and generate reports, the online archive within PaySpan containing all check images has been instrumental in handling any additional questions or issues.
"We are pleased that we were able to meet all of the Ameren Illinois utilities' expectations for this special rebate check distribution," said Neal Anderson, Senior VP and GM of the Payformance Corporate Payment Division. "The utilities' work was a perfect fit for the technology, print facilities, people, and infrastructure that we have assembled for check printing and delivery."
About Payformance Corporation
Payformance is singularly focused on the delivery of optimal solutions for corporate and healthcare payments and reporting. Serving over 3,500 customers, Payformance has a twenty-year history of providing industry leading electronic payment solutions, print services, and corporate payment software systems. Payformance is headquartered in Jacksonville, FL and can be found on the Web at www.payformance.com .
Ameren Corporation and its Illinois subsidiaries -- AmerenCILCO, AmerenIP and AmerenCIPS -- provide electricity to approximately 1.2 million customers and natural gas service to more than 800,000 customers in downstate Illinois.
CONTACT: Daniel Brown, Vice President - Marketing, of Payformance email@example.comCorporation, +1-904-588-7073,