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2015 Annual Attachment O 2015 Annual Attachment O

2015 Annual Attachment O - PowerPoint Presentation

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2015 Annual Attachment O - PPT Presentation

2015 Annual Attachment O Stakeholder Meeting Ameren Missouri July 15 2015 Agenda Primary purpose is to review AMMO Pricing Zone Historical 2014 Transmission Rate Calculations which became effective June 1 2015 ID: 771531

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2015 Annual Attachment O Stakeholder Meeting Ameren Missouri July 15 , 2015

AgendaPrimary purpose is to review AMMO Pricing Zone Historical 2014 Transmission Rate Calculations which became effective June 1, 2015 Protocol Timeline Comparison to Previous Revenue Requirement2014 AMMO Pricing Zone NITS Charge

Protocol timeline Date Action ( Historical) June 1 Posting of annual update Information exchange period begins. Review p eriod begins . September 1 Deadline for annual meeting November 1 Deadline for joint meeting on regional cost-shared projects December 1 Deadline for Interested Parties to submit information requests January 10 Deadline for Transmission Owners to respond to information requests January 31 Deadline for Interested Parties to submit Informal Challenges February 28 Deadline for Transmission Owners to respond to Informal Challenges Any rate changes agreed to by the Transmission Owner will be included in the Information Filing and will be reflected in the Annual Update for the following Rate Year. March 15 Transmission Owners submit informational filing to the Commission. March 31 Deadline for Interested Parties to file Formal Challenge at the Commission

Ameren MissouriRevenue RequirementJune 2014 vs June 2015 Calculation

Ameren Missouri June 2015 CalculationRate Base Page.Line Jun-14 Jun-15 Change Percent 2.6 Total Gross Plant 843,566,308 973,505,027 129,938,719 15% 2.12 Total Accum Depreciation 282,535,080 297,149,632 14,614,552 5% 2.18 TOTAL NET PLANT 561,031,228 676,355,395 115,324,166 21% ADJUSTMENTS TO RATE BASE 2.20 Account No. 282 -151,726,236 -186,057,383 -34,331,147 23% 2.21 Account No. 283 -6,995,936 -10,290,367 -3,294,432 47% 2.22 Account No. 190 5,296,917 8,195,106 2,898,189 55% 2.25 Land Held for Future Use 799,480 3,334,568 2,535,088 317% 2.26 CWC 3,090,433 3,795,767 705,334 23% 2.27 Materials & Supplies 6,883,099 4,625,788 -2,257,311 -33% 2.28 Prepayments 901,287 1,197,264 295,977 33% TOTAL ADJUSTMENTS -141,750,957 -175,199,258 -33,448,301 24% 2.30 TOTAL RATE BASE 419,280,272 501,156,137 81,875,865 20%

Ameren Missouri June 2015 CalculationExpenses Page.Line Jun-14 Jun-15 Change Percent O&M 3.1 Transmission 56,001,557 57,433,561 1,432,004 3% 3.1a Less LSE Expenses 6,469,229 6,344,330 -124,899 -2% 3.2 Less Account 565 30,809,160 28,061,521 -2,747,639 -9% 3.3 A&G 5,704,062 6,903,236 1,199,175 21% 3.4 Less FERC Annual Fees 0 0 0 N/A 3.5 Less EPRI, ect. 445,447 543,536 98,089 22% 3.5a Plus Trans. Reg. Comm. Exp 67,179 170,481 103,302 154% 3.7 Transmission Lease Payments 674,502 808,248 133,746 20% 3.8 TOTAL O&M 24,723,464 30,366,139 5,642,675 23% 3.12 TOTAL DEPRECIATION 18,065,642 20,805,412 2,739,770 15% TAXES 3.13 Payroll 477,114 524,054 46,940 10% 3.16 Property 7,898,117 8,806,314 908,197 11% 3.18 Other 87,186 69,111 -18,076 -21% 3.27 Income Taxes 16,529,798 19,292,707 2,762,909 17% TOTAL TAXES 24,992,215 28,692,186 3,699,971 15% TOTAL EXPENSES 67,781,322 79,863,737 12,082,415 18%

Ameren Missouri June 2015 CalculationCapital Structure Capital Structure - 2014 Page.Line $ % Cost Weighted 4.27 Long Term Debt 3,465,276,000 46% 0.0588 0.0273 4.28 Preferred Stock 80,759,500 1% 0.0424 0.0005 4.29 Common Stock 3,912,960,927 52% 0.1238 0.0649 4.3 Total 7,458,996,427 100% 0.0927 Capital Structure - 2015 Page.Line $ % Cost Weighted 4.27 Long Term Debt 3,711,276,000 48% 0.0538 0.0257 4.28 Preferred Stock 80,759,500 1% 0.0424 0.0004 4.29 Common Stock 3,971,807,203 51% 0.1238 0.0633 4.3 Total 7,763,842,703 100% 0.0895 Change in Return -0.3221%

Ameren Missouri June 2015 CalculationRevenue Requirement Page.Line Jun-14 Jun-15 Change Percent 2.30 TOTAL RATE BASE 419,280,272 501,156,137 81,875,865 20% 4.30 Rate of Return on ACS 9.27% 8.95% -0.32% -3% 3.28 Return from ACS 38,875,220 44,852,283 5,977,062 15% Total Expenses 67,781,322 79,863,737 12,082,415 18% 3.29 TOTAL GROSS REV. REQ. 106,656,542 124,716,019 18,059,477 17% 3.30 Less ATT. GG Adjustment 8,879,847 8,089,316 -790,531 -9% 3.30a Less ATT. MM Adjustment 0 0 0 N/A 3.31 GROSS REV. REQ. UNDER ATT. O 97,776,695 116,626,703 18,850,008 19%

Ameren Missouri June 2015 CalculationNet Revenue Requirement The Prior Period Adjustment relates to the FERC Audit Refund in Docket No. FA13-2-000 Page.Line Jun-14 Jun-15 Change Percent 1.1 Gross Revenue Requirement 97,776,695 116,626,703 18,850,008 19% 1.6 Total Revenue Credits 9,091,089 7,031,833 -2,059,256 -23% 1.6c Total Prior Period Adjustment (with interest) -976,420 -976,420 N/A 1.7 NET REVENUE REQUIREMENT 88,685,606 108,618,450 19,932,843 22%

Ameren Missouri June 2015 CalculationAMMO Schedule 9 Rate Calculation Page.Line Jun-14 Jun-15 Change Percent 1.7 Net Revenue Requirement 88,685,606 108,618,450 19,932,843 22% 1.15 Ameren Missouri Divisor 6,900,307 6,996,822 96,515 1% Annual Cost ($/kW/Yr) 12.852 15.524 2.672 21% Network & P-to-P Rate ($/kW/Mo) 1.071 1.294 0.223 21%

Ameren Missouri June 2015 CalculationAttachment GG Calculation - Page 1 (1) (2) (3) (4) Attachment O Line Page, Line, Col. Transmission Allocator No. 1 Gross Transmission Plant - Total Attach O, p 2, line 2 col 5 (Note A) 954,634,166 2 Net Transmission Plant - Total Attach O, p 2, line 14 and 23b col 5 (Note B) 665,462,357 O&M EXPENSE 3 Total O&M Allocated to Transmission Attach O, p 3, line 8 col 5 30,366,139 4 Annual Allocation Factor for O&M (line 3 divided by line 1 col 3) 3.18% 3.18% GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE 5 Total G&C Depreciation Expense Attach O, p 3, lines 10 & 11, col 5 (Note H) 839,936 6 Annual Allocation Factor for G&C Depreciation Expense (line 5 divided by line 1 col 3) 0.09% 0.09% TAXES OTHER THAN INCOME TAXES 7 Total Other Taxes Attach O, p 3, line 20 col 5 9,399,479 8 Annual Allocation Factor for Other Taxes (line 7 divided by line 1 col 3) 0.98% 0.98% 9 Annual Allocation Factor for Expense Sum of line 4, 6, and 8 4.25% INCOME TAXES 10 Total Income Taxes Attach O, p 3, line 27 col 5 19,292,707 11 Annual Allocation Factor for Income Taxes (line 10 divided by line 2 col 3) 2.90% 2.90% RETURN 12 Return on Rate Base Attach O, p 3, line 28 col 5 44,852,283 13 Annual Allocation Factor for Return on Rate Base (line 12 divided by line 2 col 3) 6.74% 6.74% 14 Annual Allocation Factor for Return Sum of line 11 and 13 9.64%

Ameren Missouri June 2015 CalculationAttachment GG Calculation - Page 2 (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) Line No.   Project Name MTEP Project Number Project Gross Plant Annual Allocation Factor for Expense Annual Expense Charge Project Net Plant Annual Allocation Factor for Return Annual Return Charge Project Depreciation Expense Annual Revenue Requirement True-Up Adjustment Network Upgrade Charge         (Note C) (Page 1 line 9) (Col. 3 * Col. 4) (Note D) (Page 1 line 14) (Col. 6 * Col. 7) (Note E) (Sum Col. 5, 8 & 9) (Note F) Sum Col. 10 & 11 (Note G)           1a Big River-Rockwood 138 kV 152 $ 15,537,893 4.25% $660,907.37 $ 14,866,278 9.64% $1,432,984.54 $237,192 $2,331,083.79 $ - 2,331,084 1b Reconductor Sioux-Huster-1 and -3 138 kV 1240 $ 15,620,832 4.25% $664,435.20 $ 14,680,724 9.64% $1,415,098.67 $336,452 $2,415,986.33 $ - 2,415,986 1c Gray Summit : 2nd 345/138 kV Transformer 2061 $ 22,410,810 4.25% $953,248.26 $ 20,653,854 9.64% $1,990,858.25 $398,139 $3,342,245.79 $ - 3,342,246 1d Lutesville : Northwest Cape 345/161 kV sub and new lines 2306 $ - 4.25% $0.00 $ - 9.64% $0.00 $0 $0.00 $ - 0                                                 2 Annual Totals $8,089,316 $0 $8,089,316 3 Rev. Req. Adj For Attachment O $8,089,316

2014 Significant transmission projectsTransmission Lines Project Name Total Cost Montgomery - Spencer Creek - Sub T $63 Million Mason - Labadie $15 Million Thomas Hill - Adair $9 Million Labadie - Montgomery $9 Million

Future Significant transmission projects Project Name Total Cost ISD MTEP MISO ID# MTEP Description Cape Girardeau Electric Reliability Project (Northwest Cape Area 345/161 kV Substation) $60 M 2016 MTEP11 2306 Install 560 MVA, 345/161 kV Transformer. Provide 345 kV supply from 11 mile 345 kV line extension from Lutesville Substation

Miso web linksTransmission Pricing - Attachments O, GG & MM Informationhttps://www.misoenergy.org/MarketsOperations/TransmissionSettlements/Pages/TransmissionPricing.aspxAmeren OASIS http://www.oasis.oati.com/AMRN/index.htmlMTEP 14https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEP14.aspxMTEP 15https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEP15.aspx Schedule 26 & 26-A Indicative Charges https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEPStudies.aspx

QUESTIONS?

AppendixSupplemental Background Information

Ameren Missouri transmission Ameren Missouri is a transmission-owning subsidiary of Ameren Corporation, as well as a MISO Transmission Owner (TO) Ameren Illinois and Ameren Transmission Company of Illinois (ATXI) are two other Ameren subsidiaries that are MISO TOs.ATXI was formed to build and own new regional transmission projects such as the MISO Multi-Value ProjectsAmeren Missouri will continue to build and own traditional reliability projects needed to meet local needs and continue to maintain its existing transmission systemAmeren Missouri is currently building a new local reliability project in Southeast Missouri.Ameren Missouri is the only MISO Transmission Owner in the AMMO pricing zone.

MISO ATTACHMENTs O & GG Calculate rates for Schedules 9, 26 & 26-A Attachment GG - Schedule 26Attachment MM – Schedule 26-AAttachment O - net revenue requirement billed under Schedule 9Schedules 26 and 26-A are billed by MISOSchedule 9 is billed by Ameren

MISO ATTACHMENT ggCost Recovery for certain Network UpgradesEligible projectsMarket Efficiency Generator InterconnectionsCost shared based upon project typeMISO-wide based on loadSubregional based on LODF (Line Outage Distribution Factor)Ameren Missouri has three Attachment GG projects completedOne additional project under construction These projects were approved by MISO under prior Tariff provisions which allowed limited cost sharing for certain reliability projects Attachment MM is very similar to Attachment GG Applies to MISO Multi-Value Projects, but is not applicable to Ameren Missouri since it is not building or developing any MVPs.

MISO ATTACHMENT O & GGAll transmission costs included in Attachment O calculation Schedule 9 based on net revenue requirement – reductions for:Any costs recovered in Schedules 26 & 26-ARevenue CreditsPoint-to-Point revenue in Schedules 7 & 8Rental revenueRevenue from generator interconnections

Miso transmission expansion plan (MTEP)Developed on an annual basis building upon previous analysisMISO, Transmission Owners & Stakeholders Includes subregional planning meetingsMTEP goalsEnsure the reliability of the transmission systemEnsure compliance with NERC StandardsProvide 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

AMMO rate InputsRates calculated using prior year FERC Form 1 data (historical calculation)Rate base items based on Dec 31 ending balancesOnly wholesale customers pay the Schedule 9 Rate in AMMOAbout 7% of load Ameren Missouri retail customersDo not pay AMMO Schedule 9 RateAmeren Missouri transmission facilities & costs included in bundled rates set by MoPSCOther transmission related costs also included in retail rate caseNote that some Transmission Owners’ rate calculations are differentRates are initially set based on projected dataAnnual True-up calculation to reflect actual costs reported in Form 1