August 25 2015 Agenda Introduction Purpose of Todays Meeting Attachment O Rates Structure Regulatory Timeline Disclosure 2014 True Up and Projected Attachment O Review Supporting Documentation ID: 794207
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Slide1
5
2014 Attachment O True-Up Customer MeetingAugust 25, 2015
Slide2Agenda
IntroductionPurpose of Today’s MeetingAttachment O Rates StructureRegulatory Timeline
Disclosure
2014 True Up and Projected Attachment O ReviewSupporting DocumentationChanges to Formula Rate True ProtocolsQuestions
2014 True-Up
Customer Meeting
Slide3Comply with the Formula Rate Protocol requiring a Customer Meeting to discuss the Actual 2014 Attachment O rate information between June 1 and September 1.
Review the 2014 True-Up calculation that will be included in the development of the projected rates that will be effective January 1 through December 31, 2016.Review and compare the 2014 actual Attachment O information and 2014 budget Attachment O information upon which 2014 Attachment O rates were based
.
2014 True-Up Meeting Purpose
Slide4Minnesota Power Attachment O to the MISO Tariff
Develops rates for the AC systemSchedule 7 Firm Point to Point TransactionsSchedule 8 Non Firm Point to Point Transactions
Schedule 9 Network Transmission Service
Develops rate for the HVDC systemSchedule 7 Firm Point to Point Transactions
Minnesota Power
2014 True-Up
Attachment O
Slide5Submitted to MISO and posted on MISO’s website on May
28, 2015MISO is in the process of reviewing Minnesota Power’s 2014 True-Up Attachment O
The 2014 true-up amount, plus any interest will be applied to the annual 2016 Attachment O revenue requirement and rates.
Minnesota Power
2014 True-Up
Attachment O
Slide6Formula Rate Protocol Timeline Beginning 1/1/2015
6/1/2014
9/1/2014
10/2014
2014 True-up Posting
Information Request
& Informal Challenge
Period Begin
2016 Projected
Posting
8/25/2015
2014 True-up
Customer
Meeting
2016 Projected
Customer
Meeting
10//2015
Regional
Cost Shared
Project Meeting
Information
Request
Period Ends
12/1/2015
1/10/2016
InformationRequestResponseDeadline
Informal
ChallengePeriod Ends
1/31/2016
2/28/2016
Informal
Challenge
Response
Deadline
InformationalFilingDeadline
3/15/2016
3/31/2016
FormalChallengeDeadline
2015
2016
Slide72014
True Up Results
Slide8Minnesota Power’s 2014 True-Up transmission rate is subject to change pending review by MISO and other Interested Parties. Information in this presentation is based upon Minnesota Power’s 2014 True-Up Attachment O, filed at MISO on May 28, 2015.
2014 True-Up Disclosure
Slide92014 AC System True-Up
Results
Slide102014 AC System True-Up History
Slide112014 Projected vs. Actual Revenue Requirement
Slide122014 Projected vs. Actual Operating Costs
Slide132014 Projected vs. Actual Operating Cost Detail
Slide142014 Projected vs. Actual Return Requirement
Slide152014 Projected vs. Actual Return Requirement Detail
Change in Rate Base
Slide162014 Projected vs. Actual Return Requirement Detail
Change in Cost of Capital
Slide172014 Projected vs. Actual Return Requirement Detail
Change of Return Calculation
Lower Return Requirement was caused by decrease in Rate Base:
Slide182014 Projected vs. Actual Attachment GG and ZZ Credits
Slide192014 Projected vs. Actual
Lower Attachments GG and ZZ Credits Detail
Slide202014 Projected vs. Actual Revenue Credits
Slide212014 Projected vs. Actual Revenue Credit Detail
Slide222014 DC System True-Up
Results
Slide232014 DC System True-Up History
Slide242014 Projected vs. Actual DC Revenue Requirement
Slide252014 Projected vs. Actual DC Operating Costs
Slide262014 Projected vs. Actual DC Operating Cost Detail
Slide272014 Projected vs. Actual DC Return Requirement
Slide282014 Projected vs. Actual DC
Return Requirement Detail Change in Rate Base
Slide292014 Projected vs. Actual DC
Return Requirement Detail Change in Cost of Capital
Slide302014 Projected vs. Actual DC
Return Requirement Detail Change of Return Calculation
Higher Return Requirement was caused by increase in Rate Base:
Slide312014 Projected vs. Actual DC Attachment ZZ Credit
Slide322014 Projected vs. Actual
Attachment ZZ Credit Detail
Slide332014 Projected vs. Actual DC Revenue Credit
Slide342014 Projected vs. Actual DC Revenue Credit Detail
Slide352014 Projected vs. Actual DC
Attachment N-1 Project Credit
Slide362014 Projected vs. Actual DC
Attachment N-1 Project Credit Detail
Slide37Interested Parties can submit information requests until December 1, 2015.*
MP shall make a good faith effort to respond within 15 business days.Submit information requests via email to:FormulaRateResponseTeam@mnpower.com
All questions and responses will be distributed via email to the Interested Party who asked the question and also will be posted on the MISO website.
* Subject to FERC’s final decision on Docket ER13-2379 (FERC’s Investigation of MISO Formula Rate Protocols)
2014 True-Up Information Exchange
Slide38Questions?
2014
Transmission Customer Meeting
Slide39Contacts:
Jeanne Kallberg jkallberg@mnpower.com (218) 355-2648
Kara Henderson
khenderson@mnpower.com (218) 355-2869
2014
Transmission Customer Meeting