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2013 Attachment O True-Up Stakeholder Meeting
Ameren Transmission Company of Illinois and
Ameren Illinois Company
August 22, 2014
AGENDA
Main Purpose is to review ATXI and AIC 2013 Transmission Rate
Actuals and True-Up Calculations
•
•
•
•
Timeline
ATXI 2013 True Up
AIC 2013 True Up
2014 AMIL Pricing Zone NITS Charge
There will be a meeting held on October 1 to review the 2015
Transmission Rate calculations.
2
NEW PROTOCOL TIMELINE
Proposed Schedule
(Forward-Looking)
Date
June 1

Posting of annual true-up for prior year
September 1

Deadline for annual true-up meeting
September 1

Posting of net projected revenue requirement for following year
October 15

Deadline for annual projected rate meeting
November 1

Deadline for joint meeting on regional cost-shared projects
March 15

Transmission Owners submit informational filing to the Commission
3
ATXI Revenue Requirement
Projected 2013 vs Actual 2013
4
ATXI 2013 TRUE UP
Ameren Transmission Company of Illinois
Attachment O Revenue Requirement True-Up
For the Year Ended 12/31/2013
Attachment O
Net Actual Revenue Requirement (Attachment O, Pg 1, Line 7)
$
8,951,929
Net Projected Revenue Requirement (2013 Projected Attachment O, Pg 1, Line 7)
$
7,406,002
Under/(Over) Recovery of Net Revenue Requirement
$
1,545,927
Historic Year Actual Divisor for Pricing Zone (AIC Attachment O, Pg 1, Line 15)
Projected Year Divisor for Pricing Zone (AIC 2013 Projected Attachment O, Pg 1, Line 15)
Difference between Historic & Projected Yr Divisor
Prior Year Projected Annual Cost ($ per kw per yr)
Prior Year Under/(Over) Divisor True-up
$
$
7,219,333
7,175,041
44,292
1.03
(45,719)
Total Under/(Over) Recovery
$
1,500,209
Monthly Interest Rate (to be updated through July, 2014)
Interest For 24 Months
$
Total Under/(Over) Recovery Including Interest
$
0.03%
12,530
1,512,738
5
ATXI 2013 TRUE UP
ATXI Rate Base
Page.Line
2.6
2.12
2.18
Total Gross Plant
Total Accum Depreciation
TOTAL NET PLANT
2.18a
100% CWIP RECOVERY
2.20
2.21
2.22
2.25
2.26
2.27
2.28
ADJUSTMENTS TO RATE BASE
Account No. 282
Account No. 283
Account No. 190
Land Held for Future Use
CWC
Materials & Supplies
Prepayments
TOTAL ADJUSTMENTS
2.30
TOTAL RATE BASE
2013 Projection 2013 Actual
63,438,000
65,513,376
2,652,000
2,652,407
60,786,000
62,860,969
Change
2,075,376
407
2,074,969
Percent
3%
0%
3%
33,665,000
30,479,705
-3,185,295
-9%
-12,172,000
-8,000
3,984,000
0
115,500
0
0
-8,080,500
-11,913,988
-1,015,112
2,009,733
0
502,111
0
0
-10,417,256
258,012
-1,007,112
-1,974,267
0
386,611
0
0
-2,336,756
-2%
12589%
-50%
N/A
335%
N/A
N/A
29%
86,370,500
82,923,418
-3,447,082
-4%
6
ATXI 2013 TRUE UP
ATXI Expenses
2013 Projection
Page.Line
3.1
3.1a
3.2
3.3
3.4
3.5
3.5a
3.8
O&M
Transmission
Less LSE Expenses
Less Account 565
A&G
Less FERC Annual Fees
Less EPRI, ect.
Plus Trans. Reg. Comm. Exp
TOTAL O&M
3.12
3.13
3.16
3.18
3.27
2013 Actual
Change
Percent
41,000
0
0
883,000
0
0
0
924,000
625,430
0
0
3,391,462
0
4,594
4,594
4,016,892
584,430
0
0
2,508,462
0
4,594
4,594
3,092,892
1425%
N/A
N/A
284%
N/A
N/A
N/A
335%
TOTAL DEPRECIATION
1,006,000
1,005,926
-74
0%
TAXES
Payroll
Property
Other
Income Taxes
TOTAL TAXES
0
0
25,000
4,189,084
4,214,084
0
13,719
23,296
4,004,852
4,041,867
0
13,719
-1,704
-184,232
-172,217
N/A
N/A
-7%
-4%
-4%
TOTAL EXPENSES
6,144,084
9,064,685
2,920,600
48%
7
ATXI 2013 TRUE UP
ATXI Actual Capital Structure
Capital Structure - 2013 Projection
Page.Line
4.27
4.28
4.29
4.3
Long Term Debt
Preferred Stock
Common Stock
Total
$
39,000,000
0
49,540,000
88,540,000
%
44%
0%
56%
100%
Cost
Weighted
0.0356
0.0157
0.0000
0.0000
0.1238
0.0693
0.0849
44%
0%
56%
100%
Cost
Weighted
0.0384
0.0170
0.0000
0.0000
0.1238
0.0688
0.0858
Capital Structure - 2013 Actual
Page.Line
4.27
4.28
4.29
4.3
Long Term Debt
Preferred Stock
Common Stock
Total
Change in Return
$
35,923,077
0
44,946,030
80,869,107
%
0.0901%
8
ATXI 2013 TRUE UP
Total ATXI Revenue Requirement
Page.Line
2013 Projection 2013 Actual
86,370,500
82,923,418
8.49%
8.58%
7,336,763
7,118,653
Change
-3,447,082
0.09%
-218,111
Percent
-4%
1%
-3%
2.30
4.30
3.28
TOTAL RATE BASE
Rate of Return on ACS
Return from ACS
2.30a
4.30e
3.28a
100% CWIP RECOVERY
Incremental Rate of Return on HCS
Incremental Return from HCS
33,665,000
0.00%
1,422
30,479,705
0.04%
10,971
-3,185,295
0.03%
9,548
-9%
752%
671%
3.29
Total Return
Total Expenses
TOTAL GROSS REV. REQ.
7,338,185
6,144,084
13,482,270
7,129,623
9,064,685
16,194,308
-208,562
2,920,600
2,712,038
-3%
48%
20%
3.30
3.30a
3.31
Less ATT. GG Adjustment
Less ATT. MM Adjustment
GROSS REV. REQ. UNDER ATT. O
0
5,588,351
7,893,919
0
6,647,570
9,546,738
0
1,059,219
1,652,819
N/A
19%
21%
9
ATXI 2013 TRUE UP
ATXI True-up & Net Revenue Requirement
Page.Line
1.1
1.6
Gross Revenue Requirement
Total Revenue Credits
1.6a
1.6b
1.6c
1.6d
1.6e
Historic Year Actual ATRR
Projected ATRR from Prior Year
Prior Year ATRR True-Up
Prior Year Divisor True-Up
Interest on Prior Year True-Up
1.7
NET REVENUE REQUIREMENT
2013 Projection 2013 Actual
7,893,919
9,546,738
487,917
594,809
Change
1,652,819
106,892
Percent
21%
22%
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
N/A
N/A
N/A
N/A
N/A
7,406,002
8,951,929
1,545,928
21%
10
ATXI 2013 ACTUALS
ATXI Attachment MM Calculation - Page 1
(1)
Line
No.
(2)
Attachment O
Page, Line, Col.
Attach O, p 2, line 2 + 18a col 5 (Note A)
Attach O, p 2, line 8 col 5 (Note A)
Line 1 minus Line 1a (Note B)
(3)
(4)
Transmission
Allocator
1
1a
2
Gross Transmission Plant - Total
Transmission Accumulated Depreciation
Net Transmission Plant - Total
3
3a
3b
3c
3d
O&M TRANSMISSION EXPENSE
Total O&M Allocated to Transmission
Transmission O&M
Less: LSE Expenses included in above, if any
Less: Account 565 included in above, if any
Adjusted Transmission O&M
4
Annual Allocation Factor for Transmission O&M
4a
4b
OTHER O&M EXPENSE
Other O&M Allocated to Transmission
Annual Allocation Factor for Other O&M
5
6
GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE
Total G&C Depreciation Expense
Annual Allocation Factor for G&C Depreciation Expense
7
8
TAXES OTHER THAN INCOME TAXES
Total Other Taxes
Annual Allocation Factor for Other Taxes
9
Annual Allocation Factor for Other Expense
10
11
INCOME TAXES
Total Income Taxes
Annual Allocation Factor for Income Taxes
Attach O, p 3, line 27 col 5
(line 10 divided by line 2 col 3)
4,004,852
12
13
RETURN
Return on Rate Base (Note I)
Annual Allocation Factor for Return on Rate Base
Attach O, p 3, line 28 col 5
(line 12 divided by line 2 col 3)
7,118,653
14
Annual Allocation Factor for Return
Sum of line 11 and 13
15
HYPOTHETICAL CAPITAL STRUCTURE (HCS) RETURN
Annual Allocation Factor HCS Return (Note J)
Attach O, p 4, line 30e
Attach O, p 3, line 8 col 5
Attach O, p 3, line 1 col 5
Attach O, p 3, line 1a col 5, if any
Attach O, p 3, line 2 col 5, if any
Line 3a minus Line 3b minus Line 3c
(Line 3d divided by line 1a, col 3)
Line 3 minus Line 3d
Line 4a divided by Line 1, col 3
95,993,081
2,652,407
93,340,674
4,016,892
625,430
625,430
23.58%
23.58%
3,391,462
3.53%
3.53%
Attach O, p 3, lines 10 & 11, col 5 (Note H)
(line 5 divided by line 1 col 3)
0.00%
0.00%
Attach O, p 3, line 20 col 5
(line 7 divided by line 1 col 3)
37,015
0.04%
0.04%
3.57%
3.57%
4.29%
4.29%
7.63%
7.63%
Sum of line 4b, 6, and 8
11.92%
0.04%
0.04%
11
ATXI 2013 ACTUALS
ATXI Attachment MM Calculation - Page 2
Line
No.
(1)
(2)
Project Name
MTEP
Project
Number
Multi-Value Projects (MVP)
1a
Pana-Sugar Creek
1b
Pana-Sugar Creek - Land - No HCS
1c
Sidney-Rising
1d
Sidney-Rising - Land - No HCS
1e
Palmyra-Pawnee
1f
Palmyra-Pawnee - Land - No HCS
1g
Fargo-Galesburg-Oak Grove
1h
Fargo-Galesburg-Oak Grove - Land - No HCS
1i
Pawnee-Pana
1j
Pawnee-Pana - Land - No HCS
1k
Adair-Palmyra
1l
Adair-Palmyra - Land - No HCS
Line
No.
2237
2237
2239
2239
3017
3017
3022
3022
3169
3169
3170
3170
(1)
(2)
Project Name
MTEP
Project
Number
(3)
Project Gross
Plant
(Note C)
$
$
$
$
$
$
$
$
$
$
$
$
(4)
(5)
Project
Accumulated
Depreciation
Transmission
O&M Annual
Allocation Factor
Page 1 line 4
7,603,892
1,353,781
1,394,397
1,097,120
15,833,822
7,790,997
3,559
284,102
2,078,278
2,809,960
1,838,350
763,788
(10)
23.58%
23.58%
23.58%
23.58%
23.58%
23.58%
23.58%
23.58%
23.58%
23.58%
23.58%
23.58%
(11)
(6)
Annual
Allocation for
Transmission
O&M Expense
(Col 4 * Col 5)
$
$
$
$
$
$
$
$
$
$
$
$
(11a)
(7)
2237
2237
2239
2239
3017
3017
$
$
$
$
$
$
-
3.57%
3.57%
3.57%
3.57%
3.57%
3.57%
3.57%
3.57%
3.57%
3.57%
3.57%
3.57%
(12)
1g
Fargo-Galesburg-Oak Grove
3022
1h
1i
1j
1k
1l
Fargo-Galesburg-Oak Grove - Land - No HCS
Pawnee-Pana
Pawnee-Pana - Land - No HCS
Adair-Palmyra
Adair-Palmyra - Land - No HCS
3022
3169
3169
3170
3170
7,603,892
1,353,781
1,394,397
1,097,120
15,833,822
7,790,997
11.92%
11.92%
11.92%
11.92%
11.92%
11.92%
0.04%
0.00%
0.04%
0.00%
0.04%
0.00%
$
$
$
$
$
$
$
3,559
11.92%
0.04% $
$
$
$
$
$
284,102
2,078,278
2,809,960
1,838,350
763,788
11.92%
11.92%
11.92%
11.92%
11.92%
0.00%
0.04%
0.00%
0.04%
0.00%
$
$
$
$
$
$271,579.62
$48,351.48
$49,802.12
$39,184.61
$565,518.77
$278,262.26
$127.11
$10,146.96
$74,227.50
$100,360.18
$65,658.27
$27,279.34
(13)
908,900
161,332
166,674
130,745
1,892,632
928,461
Project
Depreciation
Expense
(Note E)
(15)
(16)
Annual Revenue
Requirement
(Sum Col. 9, 12 &
13)
True-Up
Adjustment
MVP Annual Adjusted
Revenue Requirement
Sum Col. 14 & 15
(Note G)
-
$
$
$
$
$
$
425 $
-
$
-
$
$
$
$
$
$
$
$
$
$
$271,579.62
$48,351.48
$49,802.12
$39,184.61
$565,518.77
$278,262.26
$127.11
$10,146.96
$74,227.50
$100,360.18
$65,658.27
$27,279.34
(14)
$
$
$
$
$
$
33,857
248,419
334,866
219,740
91,021
(9)
Other Expense
Annual
Annual Allocation Allocation for Annual Expense
Factor
Other Expense
Charge
Page 1 line 9
(Col 3 * Col 7)
(Col 6 + Col 8)
Annual Allocation
Project Net Annual Allocation Factor for HCS
Annual Return
Plant
Factor for Return
Return
Charge
(Page 1 line 15) (Col 10 * Col 11 +
(Col 3 - Col 4)
(Page 1 line 14)
(Note J)
11a)
Multi-Value Projects (MVP)
1a
Pana-Sugar Creek
1b
Pana-Sugar Creek - Land - No HCS
1c
Sidney-Rising
1d
Sidney-Rising - Land - No HCS
1e
Palmyra-Pawnee
1f
Palmyra-Pawnee - Land - No HCS
(8)
1,180,480
209,683
216,476
169,930
2,458,151
1,206,723
(Note F)
$
$
$
$
$
$
-
$
$
$
$
$
$
553 $
-
$
553
-
$
$
$
$
$
44,004
322,646
435,226
285,398
118,301
44,004
322,646
435,226
285,398
118,301
2
MVP Total Annual Revenue Requirements
$6,647,570
3
Rev. Req. Adj For Attachment O
$6,647,570
$
$
$
$
$
$0
1,180,480
209,683
216,476
169,930
2,458,151
1,206,723
$6,647,570
12
ATXI 2013 TRUE UP
ATXI 2013 Attachment MM True Up
(a)
(b)
(c)
(d)
(e)
Line
Project
MTEP
Project
Actual
Attachment MM
No.
Name
Number
Revenues
1
Actual Attachment MM revenues for True-Up Year 1
$
(g)
(h)
(i)
(j)
(k)
Projected
Annual
Revenue
(f)
Actual
Attachment MM
Revenues
Allocated
Actual
Annual
Revenue
True-Up
Adjustment
Principal
Applicable
Interest
Rate on
True-Up
Adjustment
Interest
Total
True-Up
Requirement 1
Projected
Attachment MM
to Projects 1
[Col. (d), line 1
x (Col. (e), line 2x /
Requirement 1
Actual
Attachment MM
Under/(Over)
Under/(Over)
Under/(Over)
Adjustment
p 2 of 2, Col. 142
Col. (e), line 3)]2
p 2 of 2, Col. 142
Col. (g) - Col. (f)
Line 5
1,670,447
1,180,480
(489,967)
0.03%
(4,094)
(494,061)
-
209,683
209,683
0.03%
1,752
211,435
350,396
216,476
(133,920)
0.03%
(1,119)
(135,039)
-
169,930
169,930
0.03%
1,420
171,350
Col. (h) x Col. (i)
x 24 months 2
Col. (h) + Col. (j)
5,146,572
2a
Pana-Sugar Creek
2237
2b
Pana-Sugar Creek - Land - No HCS
2237
2c
Sidney-Rising
2239
2d
Sidney-Rising - Land - No HCS
2239
2e
Palmyra-Pawnee
3017
2,861,723
2,458,151
(403,572)
0.03%
(3,372)
(406,944)
2f
Palmyra-Pawnee - Land - No HCS
3017
-
1,206,723
1,206,723
0.03%
10,082
1,216,805
2g
Fargo-Galesburg-Oak Grove
3022
-
553
553
0.03%
5
558
2h
Fargo-Galesburg-Oak Grove - Land - No HCS
3022
-
44,004
44,004
0.03%
368
44,372
2i
Pawnee-Pana
3169
264,006
322,646
58,640
0.03%
490
59,130
2j
Pawnee-Pana - Land - No HCS
3169
-
435,226
435,226
0.03%
3,636
438,862
2k
Adair-Palmyra
3170
-
285,398
285,398
0.03%
2,385
287,783
2l
Adair-Palmyra - Land - No HCS
3170
-
118,301
118,301
0.03%
988
119,289
3
Subtotal
4
Under/(Over) Recovery
5
Applicable Interest rate per month (expressed to four decimal places)
1
Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment MM, page 2, column 15.
2
Rounded to whole dollars.
1,813,837
380,474
3,107,372
286,668
$
5,588,351
$
5,146,572
$
6,647,571
$ 1,500,999
Interest Rate to be updated through July 2014
$
12,541
$ 1,513,540
0.03%
13
ATXI 2013 MVP SPEND
Ameren MVPs
Ameren Name
2013 CAPEX
MTEP #s
MTEP Description
2237
2239
3017
3169
3170
Pana - Mt. Zion - Kansas - Sugar Creek 345 kV line
Sidney to Rising 345 kV line
Palmyra-Quincy-Meredosia - Ipava & Meredosia-Pawnee 345 kV Line
Pawnee to Pana - 345 kV Line
New Palmyra Substation (Maywood)
Illinois Rivers
$59 million
Spoon River
$3 million
3022
Fargo-Galesburg-Oak Grove 345 kV Line
Mark Twain
$0 million
2248
3170
Adair - Ottumwa 345
Adair-Palmyra 345 kV Line
14
AIC Revenue Requirement
Projected 2013 vs Actual 2013
15
AIC 2013 TRUE UP
Ameren Illinois Company - AIC
Attachment O Revenue Requirement True-Up
Year Ended December 31, 2013
Attachment O
Net Actual Revenue Requirement (Attachment O, Pg 1, Line 7a)
$
123,689,426
Net Projected Revenue Requirement (2013 Projected Attachment O, Pg 1, Line 7a)
$
133,507,911
Under/(Over) Recovery of Net Revenue Requirement
$
(9,818,485)
Historic Year Actual Divisor for Pricing Zone (Attachment O, Pg 1, Line 15)
Projected Year Divisor for Pricing Zone (2013 Projected Attachment O, Pg 1, Line 15)
Difference between Historic & Projected Yr Divisor
Prior Year Projected Annual Cost ($ per kw per yr)
Prior Year Under/(Over) Divisor True-up
$
$
Total Under/(Over) Recovery
$
Monthly Interest Rate (to be updated through July, 2014)
Interest For 24 Months
$
Total Under/(Over) Recovery Including Interest
$
7,219,264
7,175,041
44,223
18.61
(822,872)
(10,641,357)
0.27%
(691,603)
(11,332,960)
16
AIC 2013 TRUE UP
AIC Rate Base
2013 Projection
Page.Line
2.6
2.12
2.18
Total Gross Plant
Total Accum Depreciation
TOTAL NET PLANT
2.18a
100% CWIP RECOVERY
2013 Actual
Change
Percent
1,196,828,998
446,390,099
750,438,898
1,105,214,365
449,948,634
655,265,731
-91,614,633
3,558,534
-95,173,167
-8%
1%
-13%
0
0
0
N/A
0
N/A
ADJUSTMENTS TO RATE BASE
2.20
2.21
2.22
2.23
2.25
2.26
Account No. 282
Account No. 283
Account No. 190
Account No. 255
Land Held for Future Use
CWC
-220,140,173
-10,556,597
47,301,777
0
528,800
4,399,010
-178,790,125
-3,195,318
22,884,353
0
2,358,687
4,818,359
41,350,047
7,361,279
-24,417,424
0
1,829,887
419,349
-19%
-70%
-52%
N/A
346%
10%
2.27
2.28
Materials & Supplies
Prepayments
TOTAL ADJUSTMENTS
4,093,957
932,348
-173,440,877
9,297,907
1,089,692
-141,536,445
5,203,950
157,343
31,904,432
127%
17%
-18%
2.30
TOTAL RATE BASE
576,998,022
513,729,286
-63,268,735
-11%
17
AIC 2013 TRUE UP
AIC Expenses
2013 Projection
Page.Line
2013 Actual
Change
Percent
3.1
3.1a
3.2
3.3
3.4
3.5
3.5a
3.8
O&M
Transmission
Less LSE Expenses
Less Account 565
A&G
Less FERC Annual Fees
Less EPRI, ect.
Plus Trans. Reg. Comm. Exp
TOTAL O&M
39,184,517
3,090,097
11,657,490
11,319,374
0
596,873
32,649
35,192,080
39,359,186
1,685,383
11,099,804
11,962,118
0
342,724
353,476
38,546,869
174,669
-1,404,714
-557,686
642,744
0
-254,149
320,827
3,354,789
0%
-45%
-5%
6%
N/A
-43%
983%
10%
3.12
TOTAL DEPRECIATION
22,002,475
19,686,582
-2,315,893
-11%
3.13
TAXES
Payroll
875,947
783,109
0
-92,838
N/A
-11%
Property
Other
Income Taxes
TOTAL TAXES
1,001,216
367,419
26,404,240
28,648,821
893,412
265,149
25,071,011
27,012,681
-107,804
-102,270
-1,333,228
-1,636,140
-11%
-28%
-5%
-6%
TOTAL EXPENSES
85,843,376
85,246,132
-597,244
-1%
3.16
3.18
3.27
18
AIC 2013 TRUE UP
Total AIC Capital Structure
Capital Structure - 2013 Projection
Page.Line
4.27
4.28
4.29
4.3
Long Term Debt
Preferred Stock
Common Stock
Total
$
1,693,174,717
61,721,350
1,977,269,372
3,732,165,439
%
45%
2%
53%
100%
Cost
Weighted
0.0755
0.0342
0.0490
0.0008
0.1238
0.0656
0.1006
42%
2%
56%
100%
Cost
Weighted
0.0785
0.0331
0.0491
0.0007
0.1238
0.0698
0.1036
Capital Structure - 2013 Actual
Page.Line
4.27
4.28
4.29
4.3
Long Term Debt
Preferred Stock
Common Stock
Total
Change in Return
$
1,725,866,469
61,632,375
2,307,081,968
4,094,580,813
%
0.2923%
19
AIC 2013 TRUE UP
Total AIC Revenue Requirement
Page.Line
2013 Projection
576,998,022
10.06%
58,068,885
2013 Actual
513,729,286
10.36%
53,202,941
Change
-63,268,735
0.29%
-4,865,944
Percent
-11%
3%
-8%
2.30
4.30
3.28
TOTAL RATE BASE
Rate of Return
Return
3.29
Total Expenses
TOTAL GROSS REV. REQ.
85,843,376
143,912,261
85,246,132
138,449,073
-597,244
-5,463,188
-1%
-4%
3.30
3.30a
3.31
Less ATT. GG Adjustment
Less ATT. MM Adjustment
GROSS REV. REQ. UNDER ATT. O
2,393,291
0
141,518,970
3,162,192
0
135,286,881
768,901
0
-6,232,089
32%
N/A
-4%
20
AIC 2013 TRUE UP
AIC True-up & Net Revenue Requirement
Page.Line
1.1
1.6
Gross Revenue Requirement
Total Revenue Credits
1.6a
1.6b
1.6c
1.6d
1.6e
Historic Year Actual ATRR
Projected ATRR from Prior Year
Prior Year ATRR True-Up
Prior Year Divisor True-Up
Interest on Prior Year True-Up
1.7a
1.7b
1.7
NET REVENUE REQUIREMENT
Prairie Power
AIC Adjusted Revenue Requirement
2013 Projection
141,518,970
8,011,058
2013 Actual
135,286,881
11,597,455
Change
-6,232,089
3,586,397
Percent
-4%
45%
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
N/A
N/A
N/A
N/A
N/A
133,507,911
583,724
134,091,635
123,689,426
243,218
123,932,645
-9,818,485
-340,506
-10,158,991
-7%
-58%
-8%
21
AIC 2013 ACTUAL
AIC Attachment GG Calculation - Page 1
(1)
Line
No.
1
2
Gross Transmission Plant - Total
Net Transmission Plant - Total
3
4
O&M EXPENSE
Total O&M Allocated to Transmission
Annual Allocation Factor for O&M
5
6
GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE
Total G&C Depreciation Expense
Annual Allocation Factor for G&C Depreciation Expense
7
8
(2)
Attachment O
Page, Line, Col.
Attach O, p 2, line 2 col 5 (Note A)
Attach O, p 2, line 14 and 23b col 5 (Note B)
(3)
(4)
Transmission
Allocator
1,066,926,320
630,842,437
Attach O, p 3, line 8 col 5
(line 3 divided by line 1 col 3)
38,546,869
3.61%
3.61%
Attach O, p 3, lines 10 & 11, col 5 (Note H)
(line 5 divided by line 1 col 3)
1,451,559
0.14%
0.14%
TAXES OTHER THAN INCOME TAXES
Total Other Taxes
Annual Allocation Factor for Other Taxes
Attach O, p 3, line 20 col 5
(line 7 divided by line 1 col 3)
1,941,670
0.18%
0.18%
9
Annual Allocation Factor for Expense
Sum of line 4, 6, and 8
10
11
INCOME TAXES
Total Income Taxes
Annual Allocation Factor for Income Taxes
Attach O, p 3, line 27 col 5
(line 10 divided by line 2 col 3)
25,071,011
3.97%
3.97%
12
13
RETURN
Return on Rate Base
Annual Allocation Factor for Return on Rate Base
Attach O, p 3, line 28 col 5
(line 12 divided by line 2 col 3)
53,202,941
8.43%
8.43%
14
Annual Allocation Factor for Return
Sum of line 11 and 13
3.93%
12.41%
22
AIC 2013 ACTUAL
AIC Attachment GG Calculation - Page 2
(1)
Line
No.
Project Name
(2)
(3)
MTEP Project Project Gross
Number
Plant
(Note C)
1a
1b
1c
1d
Wood River-Roxford 1502 138kV line
Sidney-Paxton 138kV Reconductor 18 miles
Coffeen Plant-Coffeen, North - 2nd. Bus tie
Latham - Oreana 8.5 mile 345kV line
728
870
2829
2068
$
$
$
$
3,424,487
5,994,479
5,592,558
3,432,457
(4)
Annual
Allocation
Factor for
Expense
(Page 1 line
9)
3.93%
3.93%
3.93%
3.93%
(5)
(6)
(7)
Annual
Expense
Charge
Project Net
Plant
Annual
Allocation
Factor for
Return
(Col. 3 * Col. 4)
(Note D)
$134,614.10
$235,638.61
$219,839.41
$134,927.39
$
$
$
$
3,098,644
5,394,578
5,341,446
3,426,302
(8)
Project
Annual Return Depreciation
Charge
Expense
(Page 1 line
14)
(Col. 6 * Col. 7)
12.41%
12.41%
12.41%
12.41%
(9)
$384,474.94
$669,350.85
$662,758.36
$425,130.21
(Note E)
$51,625
$99,719
$97,898
$46,217
(10)
(11)
Annual Revenue
Requirement
True-Up
Adjustment
(Sum Col. 5, 8 & 9)
$570,713.86
$1,004,707.98
$980,495.36
$606,274.58
2
Annual Totals
$3,162,192
3
Rev. Req. Adj For Attachment O
$3,162,192
(12)
(Note F)
$
$
$
$
Network
Upgrade
Charge
Sum Col. 10 &
11
(Note G)
-
570,714
1,004,708
980,495
606,275
$0
$3,162,192
23
AIC 2013 TRUE UP
AIC 2013 Attachment GG True Up
(a)
(b)
(c)
Line
Project
MTEP
Project
No.
Name
Number
1
Actual Attachment GG revenues for True-Up Year 1
$
(d)
(e)
(f)
Actual
(g)
(h)
(i)
Actual
Attachment GG
Projected
Annual
Revenue
Attachment GG
Revenues
Allocated
Actual
Annual
Revenue
True-Up
Adjustment
Principal
Revenues
Requirement 1
Projected
Attachment GG
to Projects 1
[Col. (d), line 1
x (Col. (e), line 2x /
Requirement 1
Actual
Attachment GG
Under/(Over)
Applicabl
e
Interest
Rate on
Under/(O
ver)
p 2 of 2, Col. 102
Col. (e), line 3)]2
p 2 of 2, Col. 102
Col. (g) - Col. (f)
Line 5
(j)
(k)
True-Up
Adjustment
Interest
Total
True-Up
Under/(Over)
Adjustment
Col. (h) x Col. (i)
x 24 months 2
Col. (h) + Col. (j)
2,517,438
2a Wood River-Roxford 1502 138kV line
728
536,385
564,209
570,714
6,505
0.03%
49
6,554
2b Sidney-Paxton 138kV Reconductor 18 miles
870
949,603
998,862
1,004,708
5,846
0.03%
44
5,890
2c Coffeen Plant-Coffeen, North - 2nd. Bus tie
2829
907,302
954,367
980,495
26,128
0.03%
198
26,326
2d Latham - Oreana 8.5 mile 345kV line
2068
-
606,275
606,275
0.03%
4,598
610,873
4,889 $
649,643
3
Subtotal
4
Under/(Over) Recovery
5
Applicable Interest rate per month (expressed to four decimal places)
1
Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment GG, page 2, column 11.
Rounded to whole dollars.
2
$
2,393,290
-
$
2,517,438
$
3,162,192
$
Interest Rate to be updated through July 2014
644,754
$
0.0316%
24
SCHEDULE 9 NITS RATE FOR 2013*
Page.Line
1.7
1.7
1.15
.
.
AIC Adjusted Revenue Requirement
ATXI Adjusted Revenue Requirement
Total Revenue Requirement
Ameren Illinois Divisor
Annual Cost ($/kW/Yr)
Network & P-to-P Rate ($/kW/Mo)
2013 Projection
134,091,635
7,406,002
141,497,637
7,175,041
19.721
1.643
2013 Actual
123,932,645
8,951,929
132,884,574
7,219,264
18.407
1.534
Change
-10,158,991
1,545,928
-8,613,063
44,224
(1.314)
(0.109)
Percent
-8%
21%
-6%
1%
-7%
-7%
* PPI became a TO in the AMIL pricing zone effective 6/1/13 so the actual AMIL 2013 rate would be higher than shown above.
25
QUESTIONS?
Appendix
supplemental background information not
covered in presentation
27
APPENDIX - AIC AND ATXI
• Both AIC and ATXI are transmission owning subsidiaries of Ameren
Corporation, as well as MISO Transmission Owners (TOs)
• AIC will continue to build and own traditional reliability projects
• ATXI is in the process of building and will own new regional
transmission projects
• Prairie Power, Inc. became a TO in the AMIL pricing zone effective
June 1, 2013.
• The sum of their Attachment O net revenue requirements equals the
total revenue requirement for AMIL pricing zone to be collected
under Schedule 9 (NITS)
28
APPENDIX - MISO ATTACHMENTS O, GG & MM
Calculate rates for Schedules 9, 26 & 26-A
•
•
•
•
•
Attachment GG - Schedule 26
Attachment MM - Schedule 26-A
Attachment O - net revenue requirement billed under Schedule 9
Schedules 26 and 26-A are billed by MISO
Schedule 9 is billed by Ameren
29
APPENDIX - MISO ATTACHMENT GG
• Cost Recovery for certain Network Upgrades
• Eligible projects
• Market Efficiency
• Generator Interconnections
• Cost shared based upon project type
• MISO-wide based on load
• Subregional based on LODF (Line Outage Distribution Factor)
• AIC has four Attachment GG projects completed
• Two additional projects under construction
• ATXI has no Attachment GG projects
30
APPENDIX - MISO ATTACHMENT MM
• Cost recovery for Multi-Value Projects (MVPs)
• Very similar format as Attachment GG
• Criteria for being considered
• Developed through planning process and support energy policy
• Multiple types of economic value across multiple pricing zones with
benefit to costs > 1
• Address at least one:
• Projected NERC violation
• Economic-based issue
• Cost shared across MISO based on load
• AMIL Zone is approximately 9%
• Ameren MVPs will primarily be built by ATXI
• AIC will be responsible for modifications needed to its existing facilities
31
APPENDIX - MISO ATTACHMENT O, GG & MM
• All transmission costs included in Attachment O calculation
• Schedule 9 based on net revenue requirement – reductions for:
• Costs recovered in Schedules 26 & 26-A
• Revenue Credits
• Point-to-Point revenue in Schedules 7 & 8
• Rental revenue
• Revenue from generator interconnections
32
APPENDIX - MISO TRANSMISSION EXPANSION PLAN (MTEP)
• Developed on an annual basis building upon previous analysis
•
•
MISO, Transmission Owners & Stakeholders
Includes subregional planning meetings
• MTEP goals
•
•
•
•
•
•
•
Ensure the reliability of the transmission system
Ensure compliance with NERC Standards
Provide economic benefits, such as increased market efficiency
Facilitate public policy objectives, such as meeting Renewable Portfolio
Standards
Address other issues or goals identified through the stakeholder process
Multiple future scenarios analyzed
End result – comprehensive, cohesive plan for MISO footprint
• MTEP approved by MISO Board of Directors
33
MISO MVPS
• Brief history of development
• Began investigating value added expansion in 2003
• 2008 Regional Generation Outlet Study (RGOS) - formed basis of
Candidate MVP portfolio
• Portfolio refined due to additional analysis
• MISO approved portfolio of 17 Projects
• Seven transmission line segments (MTEP proj numbers) in Ameren territory
• Ameren identifies these three projects as:
• Illinois Rivers (four line segments)
• Spoon River
• Mark Twain (two line segments)
• Broadly cost-shared, AMIL pricing zone allocated 9% of each MVP
no matter where project is located or who builds it
34
APPENDIX - MAP OF AMEREN MVPS
35
APPENDIX - RATE INCENTIVES
• FERC approved the following rate incentives for Illinois Rivers in
Docket No. EL10-80
– CWIP (no AFUDC)
– Abandonment (requires additional filing prior to recovery)
– Hypothetical capital structure during construction for ATXI
• FERC approved similar incentives for Spoon River and Mark Twain
Projects in Docket No. ER12-2216
36
APPENDIX - MISO WEB LINKS
• Transmission Pricing - Attachments O, GG & MM Information
• https://www.misoenergy.org/MarketsOperations/TransmissionSettlement
s/Pages/TransmissionPricing.aspx
• Ameren OASIS
• http://www.oasis.oati.com/AMRN/index.html
• MTEP 13
• https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/
Pages/MTEP13.aspx
• MTEP 14
•
https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/
Pages/MTEP14.aspx
• Schedule 26 & 26-A Indicative Charges
• https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/
Pages/MTEPStudies.aspx
37
APPENDIX - AIC AND ATXI
• Additional questions can be sent to Ameren’s Formula Rates email
address
– [email protected]
38