ATXI 2016 Stakeholder Meeting Overview
2016 Attachment O Projection Stakeholder Meeting
Ameren Transmission Company of Illinois
October 1, 2015
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Main Purpose is to review ATXI 2016 Projected Transmission Rate
Calculations
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Timeline
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ATXI 2016 Projection
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Attachment O
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Attachment MM
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2016 AMIL Pricing Zone NITS Charge
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ATXI Revenue Requirement
Projected 2015 vs Projected 2016
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ATXI Attachment MM Calculation - Page 1
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ATXI Attachment MM Calculation - Page 2
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ATXI Attachment MM Calculation - Page 2 (Continued)
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ATXI 2014 Attachment MM True Up
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* PPI currently uses a historical Attachment O which is updated June 1
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each year. The amount shown for 2015 is the PPI ATRR effective as
of 6/1/15. Therefore, the 2015 Annual Cost of $24.488 /kw-Yr is the current Schedule 9 rate in effect for the AMIL Pricing Zone. PPI has filed
at FERC to begin using a forward looking Attachment O effective 1/1/16. PPI’s
preliminary
revenue requirement for 2016 is reflected above
along with the projected 2016 revenue requirements for AIC and ATXI. The total 2016 projected Schedule 9 rate for the AMIL Pricing Zone is
$31.576/kW-Yr.
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Appendix
Supplemental Background Information
(Not covered during presentation)
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Calculate rates for Schedules 9, 26 & 26-A
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Attachment GG - Schedule 26
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Attachment MM - Schedule 26-A
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Attachment O - net revenue requirement billed under Schedule 9
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Schedules 26 and 26-A are billed by MISO
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Schedule 9 is billed by Ameren
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Cost recovery for Multi-Value Projects (MVPs)
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Criteria for being considered
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Developed through planning process and support energy policy
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Multiple types of economic value across multiple pricing zones with
benefit to costs > 1
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Address at least one:
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Projected NERC violation
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Economic-based issue
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Cost shared across MISO based on load
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AMIL Zone is approximately 9%
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Ameren MVPs will primarily be built by ATXI
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AIC will be responsible for modifications needed to its existing facilities
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Costs recovered in Schedules 26 & 26-A
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Since ATXI has no Attachment GG projects, there is no deduction for 26
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Revenue Credits
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Point-to-Point revenue in Schedules 7 & 8
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Rental revenue
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Revenue from generator interconnections
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Developed on an annual basis building upon previous analysis
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MISO, Transmission Owners & Stakeholders
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Includes subregional planning meetings
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MTEP goals
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Ensure the reliability of the transmission system
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Ensure compliance with NERC Standards
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Provide economic benefits, such as increased market efficiency
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Facilitate public policy objectives, such as meeting Renewable Portfolio
Standards
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Address other issues or goals identified through the stakeholder process
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Multiple future scenarios analyzed
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End result – comprehensive, cohesive plan for MISO footprint
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MTEP approved by MISO Board of Directors
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Brief history of development
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Began investigating value added expansion in 2003
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2008 Regional Generation Outlet Study (RGOS) - formed basis of
Candidate MVP portfolio
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Portfolio refined due to additional analysis
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MISO approved portfolio of 17 Projects
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Seven transmission line segments
(MTEP proj numbers)
in Ameren territory
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Ameren identifies these three projects as:
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Illinois Rivers (four line segments)
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Spoon River
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Mark Twain (two line segments)
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Broadly cost-shared, AMIL pricing zone allocated 9% of each MVP
no matter where project is located or who builds it
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FERC approved the following rate incentives for Illinois Rivers in
Docket No. EL10-80
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CWIP (no AFUDC)
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Abandonment (requires additional filing prior to recovery)
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Hypothetical capital structure during construction for ATXI
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FERC approved similar incentives for Spoon River and Mark Twain
Projects in Docket No. ER12-2216
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Transmission Pricing - Attachments O, GG & MM Information
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https://www.misoenergy.org/MarketsOperations/TransmissionSettlement
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Ameren OASIS
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http://www.oasis.oati.com/AMRN/index.html
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MTEP 15
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https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/
Pages/MTEP15.aspx
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Schedule 26 & 26-A Indicative Charges
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https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/
Pages/MTEPStudies.aspx
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Additional questions on these topics can be sent to Ameren at:
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MISOFormulaRates@ameren.com
The content provides an overview of the 2016 Stakeholder Meeting held by Ameren Transmission Company of Illinois (ATXI) on October 1, 2015. It includes discussions on projected transmission rates, revenue requirements, expenses, and capital structure for the year 2016. The timeline, agenda, and financial details of the meeting are outlined.
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Presentation Transcript
2016 Attachment O Projection Stakeholder Meeting Ameren Transmission Company of Illinois October 1, 2015
AGENDA Main Purpose is to review ATXI 2016 Projected Transmission Rate Calculations Timeline ATXI 2016 Projection Attachment O Attachment MM 2016 AMIL Pricing Zone NITS Charge 2
PROTOCOL TIMELINE Schedule Date (Forward-Looking Protocols) June 1 Posting of annual true-up for prior year September 1 September 1 October 15 November 1 March 15 Deadline for annual true-up meeting Posting of net projected revenue requirement for following year Deadline for annual projected rate meeting Deadline for joint meeting on regional cost-shared projects Transmission Owners submit informational filing to the Commission 3
ATXI Revenue Requirement Projected 2015 vs Projected 2016 4
ATXI 2016 PROJECTED RATE BASE Jan-15 80,778,000 4,717,000 76,061,000 Jan-16 244,237,971 9,096,778 235,141,193 Change 163,459,971 4,379,778 159,080,193 Percent 202% 93% 209% Page.Line 2.6 2.12 2.18 Total Gross Plant Total Accum Depreciation TOTAL NET PLANT 2.18a 100% CWIP RECOVERY 471,564,000 684,234,021 212,670,021 45% ADJUSTMENTS TO RATE BASE Account No. 282 Account No. 283 Account No. 190 Land Held for Future Use CWC Materials & Supplies Prepayments TOTAL ADJUSTMENTS 2.20 2.21 2.22 2.25 2.26 2.27 2.28 -12,824,000 -2,720,000 2,470,000 -39,416,856 -3,419,130 8,262,219 -26,592,856 -699,130 5,792,219 207% 26% 235% N/A 82% N/A 107% 171% 0 0 0 866,625 1,575,005 708,380 0 0 0 190,000 -12,017,375 392,795 -32,605,966 202,795 -20,588,591 2.30 TOTAL RATE BASE 535,607,625 886,769,248 351,161,623 66% 5
ATXI 2016 PROJECTED EXPENSES Jan-15 Jan-16 Change Percent Page.Line 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 3.1 3.1a 3.2 3.3 3.4 3.5 3.5a 3.8 367,000 1,200,387 833,387 227% N/A N/A 74% N/A 2% 2% 82% 0 0 0 0 0 0 6,566,000 11,399,650 4,833,650 0 0 0 50,000 50,000 6,933,000 51,164 51,164 1,164 1,164 12,600,037 5,667,037 3.12 TOTAL DEPRECIATION 1,132,000 6,599,581 5,467,581 483% TAXES Payroll Property Other Income Taxes TOTAL TAXES 3.13 3.16 3.18 3.27 0 0 0 0 N/A N/A 223% 66% 70% 763,426 500,000 41,070,854 42,334,280 763,426 345,000 16,264,541 17,372,967 155,000 24,806,313 24,961,313 TOTAL EXPENSES 33,026,313 61,533,898 28,507,585 86% 6
ATXI 2016 PROJECTED CAPITAL STRUCTURE Capital Structure - 2015 Projection $ % Cost Weighted 0.0187 0.0000 0.0696 0.0883 Page.Line 4.27 4.28 4.29 4.30 Long Term Debt Preferred Stock Common Stock Total 192,308,000 43.8% 0.0% 56.2% 100.0% 0.0427 0.0000 0.1238 0 247,121,000 439,429,000 Capital Structure - 2016 Projection $ % Cost Weighted 0.0172 0.0000 0.0695 0.0866 Page.Line 4.27 4.28 4.29 4.30 Long Term Debt Preferred Stock Common Stock Total 303,846,154 43.9% 0.0% 56.1% 100.0% 0.0391 0.0000 0.1238 0 388,732,961 692,579,115 Change in Return -0.1684% 7
ATXI 2016 PROJECTED TOTAL REVENUE REQUIREMENT Jan-15 535,607,625 Jan-16 886,769,248 Change 351,161,623 -0.17% 29,521,976 Percent 66% -2% 62% Page.Line 2.30 4.30 3.28 TOTAL RATE BASE Rate of Return on ACS Return from ACS 8.83% 8.66% 47,306,341 76,828,317 2.30a 4.30e 3.28a 100% CWIP RECOVERY Incremental Rate of Return on HCS Incremental Return from HCS 471,564,000 -0.02% -90,541 684,234,021 -0.01% -74,367 212,670,021 45% -43% -18% 0.01% 16,174 Total Return Total Expenses TOTAL GROSS REV. REQ. 47,215,800 33,026,313 80,242,113 76,753,950 61,533,898 138,287,848 29,538,150 28,507,585 58,045,735 63% 86% 72% 3.29 3.30 3.30a 3.31 Less ATT. GG Adjustment Less ATT. MM Adjustment GROSS REV. REQ. UNDER ATT. O 0 0 0 N/A 80% 8% 71,386,314 8,855,799 128,723,561 9,564,287 57,337,246 708,489 8
ATXI 2016 PROJECTED NET REVENUE REQUIREMENT & TRUE UP Jan-15 8,855,799 423,000 Jan-16 9,564,287 990,564 Change 708,489 567,564 Percent 8% 134% 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 8,860,739 7,406,002 1,454,736 -45,647 9,706 10,933,054 10,761,294 171,760 -244,936 -4,756 2,072,316 3,355,292 -1,282,976 -199,289 -14,462 23% 45% -88% 437% -149% 1.7 NET REVENUE REQUIREMENT 9,851,594 8,495,791 -1,355,803 -14% 9
ATXI 2014 ATTACHMENT O TRUE UP Ameren Transmission Company of Illinois Attachment O Revenue Requirement True-Up Year Ended December 31, 2014 Attachment O Net Actual Revenue Requirement (2014 Actual Attachment O, Pg 1, Line 7) $ 10,933,054 Net Projected Revenue Requirement (2014 Projected Attachment O, Pg 1, Line 7) $ 10,761,294 Under/(Over) Recovery of Net Revenue Requirement $ 171,760 Historic Year Actual Divisor for Pricing Zone (2014 Actual AIC Attachment O, Pg 1, Line 15) Projected Year Divisor for Pricing Zone (AIC 2014 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 $ 7,205,351 7,045,000 160,351 $ 1.53 $ (244,936) Total Under/(Over) Recovery $ (73,176) Monthly Interest Rate (updated through July, 2015) Interest For 24 Months 0.2708% $ (4,756) Total Under/(Over) Recovery Including Interest $ (77,932) 10
ATXI 2016 PROJECTED ATTACHMENT MM ATXI Attachment MM Calculation - Page 1 (1) (2) (3) (4) Attachment O Page, Line, Col. Line No. Transmission Allocator 1 1a 2 Gross Transmission Plant - Total Transmission Accumulated Depreciation Net Transmission Plant - Total Attach O, p 2, line 2 + 18a col 5 (Note A) Attach O, p 2, line 8 col 5 Line 1 minus Line 1a (Note B) 923,168,452 7,645,717 915,522,735 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 3 3a 3b 3c 3d 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 12,600,037 1,200,387 - - 1,200,387 4 Annual Allocation Factor for Transmission O&M (Line 3d divided by line 1a, col 3) 15.70% 15.70% OTHER O&M EXPENSE Other O&M Allocated to Transmission Annual Allocation Factor for Other O&M 4a 4b Line 3 minus Line 3d Line 4a divided by Line 1, col 3 11,399,650 1.23% 1.23% GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE Total G&C Depreciation Expense Annual Allocation Factor for G&C Depreciation Expense 5 6 Attach O, p 3, lines 10 & 11, col 5 (Note H) (line 5 divided by line 1 col 3) 1,726,458 0.19% 0.19% TAXES OTHER THAN INCOME TAXES Total Other Taxes Annual Allocation Factor for Other Taxes 7 8 Attach O, p 3, line 20 col 5 (line 7 divided by line 1 col 3) 1,263,426 0.14% 0.14% 9 Annual Allocation Factor for Other Expense Sum of line 4b, 6, and 8 1.56% INCOME TAXES Total Income Taxes Annual Allocation Factor for Income Taxes 10 11 Attach O, p 3, line 27 col 5 (line 10 divided by line 2 col 3) 41,070,854 4.49% 4.49% RETURN Return on Rate Base (Note I) Annual Allocation Factor for Return on Rate Base 12 13 Attach O, p 3, line 28 col 5 (line 12 divided by line 2 col 3) 76,828,317 8.39% 8.39% 14 Annual Allocation Factor for Return Sum of line 11 and 13 12.88% HYPOTHETICAL CAPITAL STRUCTURE (HCS) RETURN Annual Allocation Factor HCS Return (Note J) 15 Attach O, p 4, line 30e -0.01% 0.00% 11
ATXI 2016 PROJECTED ATTACHMENT MM ATXI Attachment MM Calculation - Page 2 (1) (2) (3) (4) (5) (6) (7) (8) (9) Other Expense Annual Allocation Factor Transmission O&M Annual Allocation Factor Annual Allocation for Transmission O&M Expense MTEP Project Number Project Accumulated Depreciation Annual Allocation for Other Expense Annual Expense Charge Line No. Project Name Project Gross Plant Page 1 line 9 (Note C) Page 1 line 4 (Col 4 * Col 5) (Col 3 * Col 7) (Col 6 + Col 8) Multi-Value Projects (MVP) 1a 1b 1c Pana-Sugar Creek - CWIP Pana-Sugar Creek - Plant in Service - No HCS Pana-Sugar Creek - Land - No HCS 2237 2237 2237 $ 131,089,876 $ 40,471,137 $ 4,524,089 $ - $ 378,967 $ - 15.70% $ - 15.70% $ 59,498 15.70% $ - 1.56% $ 2,043,313 1.56% $ 630,828 $ 690,327 1.56% $ 70,518 $ 70,518 $ 2,043,313 1d Sidney-Rising - CWIP 2239 $ 51,469,977 $ - 15.70% $ - 1.56% $ 802,269 $ 802,269 1e Sidney-Rising - Plant in Service - No HCS 2239 $ 23,043,585 $ 184,113 15.70% $ 28,906 1.56% $ 359,183 $ 388,089 1f Sidney-Rising - Land - No HCS 2239 $ 1,285,913 $ - 15.70% $ - 1.56% $ 20,044 $ 20,044 1g Adair-Ottumwa - CWIP 2248 $ 4,246,263 $ - 15.70% $ - 1.56% $ 66,187 $ 66,187 1h Adair-Ottumwa - Plant in Service - No HCS 2248 $ - $ - 15.70% $ - 1.56% $ - $ - 1i Adair-Ottumwa - Land - No HCS 2248 $ 656,150 $ - 15.70% $ - 1.56% $ 10,227 $ 10,227 1j Palmyra-Pawnee - CWIP 3017 $ 370,343,131 $ - 15.70% $ - 1.56% $ 5,772,582 $ 5,772,582 1k Palmyra-Pawnee - Plant in Service - No HCS 3017 $ 87,915,462 $ 786,231 15.70% $ 123,439 1.56% $ 1,370,349 $ 1,493,788 1l Palmyra-Pawnee - Land - No HCS 3017 $ 8,169,406 $ - 15.70% $ - 1.56% $ 127,337 $ 127,337 1m Fargo-Galesburg-Oak Grove - CWIP 3022 $ 42,657,530 $ - 15.70% $ - 1.56% $ 664,908 $ 664,908 1n Fargo-Galesburg-Oak Grove - Plant in Service - No HCS 3022 $ 5,160,424 $ 11,394 15.70% $ 1,789 1.56% $ 80,436 $ 82,225 1o Fargo-Galesburg-Oak Grove - Land - No HCS 3022 $ 3,396,576 $ - 15.70% $ - 1.56% $ 52,943 $ 52,943 1p Pawnee-Pana - CWIP 3169 $ 52,724,134 $ - 15.70% $ - 1.56% $ 821,817 $ 821,817 1q Pawnee-Pana - Plant in Service - No HCS 3169 $ 2,974,085 $ 4,684 15.70% $ 735 1.56% $ 46,357 $ 47,093 1r Pawnee-Pana - Land - No HCS 3169 $ 3,892,368 $ - 15.70% $ - 1.56% $ 60,671 $ 60,671 1s Adair-Palmyra - CWIP 3170 $ 31,703,109 $ - 15.70% $ - 1.56% $ 494,160 $ 494,160 1t Adair-Palmyra - Plant in Service - No HCS 3170 $ 2,429,690 $ 3,827 15.70% $ 601 1.56% $ 37,872 $ 38,473 1u Adair-Palmyra - Land - No HCS 3170 $ 769,449 $ - 15.70% $ - 1.56% $ 11,993 $ 11,993 12
ATXI 2016 PROJECTED ATTACHMENT MM ATXI Attachment MM Calculation - Page 2 (Continued) (1) (2) (10) (11) (11a) (12) (13) (14) (15) (16) Annual Allocation Factor for Return Project Depreciation Expense MTEP Project Number Annual Allocation Factor for HCS Return Annual Revenue Requirement MVP Annual Adjusted Revenue Requirement Line No. Project Name Project Net Plant Annual Return Charge True-Up Adjustment Sum Col. 14 & 15 (Note G) (Col 3 - Col 4) (Page 1 line 14) (Page 1 line 15) (Note J) (Col 10 * (Col 11 + 11a)) (Note E) (Sum Col. 9, 12 & 13) (Note F) Multi-Value Projects (MVP) 1a Pana-Sugar Creek - CWIP 2237 $ 131,089,876 12.88% 0.00% $ 16,881,490 $ - $ 18,924,803 $ 487,836 $ 19,412,639 1b Pana-Sugar Creek - Plant in Service - No HCS 2237 $ 40,092,170 12.88% 0.00% $ 5,162,989 $ 798,172 $ 6,651,487 $ - $ 6,651,487 1c Pana-Sugar Creek - Land - No HCS 2237 $ 4,524,089 12.88% 0.00% $ 582,603 $ - $ 653,121 $ 139,393 $ 792,514 1d Sidney-Rising - CWIP 2239 $ 51,469,977 12.88% 0.00% $ 6,628,200 $ - $ 7,430,468 $ 925,675 $ 8,356,143 1e Sidney-Rising - Plant in Service - No HCS 2239 $ 22,859,472 12.88% 0.00% $ 2,943,797 $ 464,068 $ 3,795,954 $ - $ 3,795,954 1f Sidney-Rising - Land - No HCS 2239 $ 1,285,913 12.88% 0.00% $ 165,597 $ - $ 185,641 $ 98,760 $ 284,401 1g Adair-Ottumwa - CWIP 2248 $ 4,246,263 12.88% 0.00% $ 546,825 $ - $ 613,012 $ (48,295) $ 564,717 1h Adair-Ottumwa - Plant in Service - No HCS 2248 $ - 12.88% 0.00% $ - $ - $ - $ - $ - 1i Adair-Ottumwa - Land - No HCS 2248 $ 656,150 12.88% 0.00% $ 84,498 $ - $ 94,725 $ (11,111) $ 83,614 1j Palmyra-Pawnee - CWIP 3017 $ 370,343,131 12.88% 0.00% $ 47,692,041 $ - $ 53,464,623 $ 1,839,573 $ 55,304,196 1k Palmyra-Pawnee - Plant in Service - No HCS 3017 $ 87,129,231 12.88% 0.00% $ 11,220,327 $ 1,764,313 $ 14,478,427 $ - $ 14,478,427 1l Palmyra-Pawnee - Land - No HCS 3017 $ 8,169,406 12.88% 0.00% $ 1,052,040 $ - $ 1,179,377 $ 282,973 $ 1,462,350 1m Fargo-Galesburg-Oak Grove - CWIP 3022 $ 42,657,530 12.88% 0.00% $ 5,493,351 $ - $ 6,158,259 $ (260,136) $ 5,898,123 1n Fargo-Galesburg-Oak Grove - Plant in Service - No HCS 3022 $ 5,149,031 12.88% 0.00% $ 663,082 $ 105,660 $ 850,967 $ - $ 850,967 1o Fargo-Galesburg-Oak Grove - Land - No HCS 3022 $ 3,396,576 12.88% 0.00% $ 437,404 $ - $ 490,347 $ 117,172 $ 607,519 1p Pawnee-Pana - CWIP 3169 $ 52,724,134 12.88% 0.00% $ 6,789,708 $ - $ 7,611,525 $ 96,988 $ 7,708,513 1q Pawnee-Pana - Plant in Service - No HCS 3169 $ 2,969,401 12.88% 0.00% $ 382,393 $ 60,894 $ 490,380 $ - $ 490,380 1r Pawnee-Pana - Land - No HCS 3169 $ 3,892,368 12.88% 0.00% $ 501,251 $ - $ 561,922 $ 78,933 $ 640,855 1s Adair-Palmyra - CWIP 3170 $ 31,703,109 12.88% 0.00% $ 4,082,662 $ - $ 4,576,823 $ 493,883 $ 5,070,706 1t Adair-Palmyra - Plant in Service - No HCS 3170 $ 2,425,864 12.88% 0.00% $ 312,398 $ 49,748 $ 400,618 $ - $ 400,618 1u Adair-Palmyra - Land - No HCS 3170 $ 769,449 12.88% 0.00% $ 99,088 $ - $ 111,082 $ 21,560 $ 132,642 2 MVP Total Annual Revenue Requirements $128,723,561 $4,263,204 $132,986,765 3 Rev. Req. Adj For Attachment O $128,723,561 13
ATXI 2014 ATTACHMENT MM TRUE UP ATXI 2014 Attachment MM True Up (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) Actual Projected Annual Revenue Requirement 1 Projected Attachment MM p 2 of 2, Col. 142 Attachment MM Revenues Allocated to Projects 1 [Col. (d), line 1 x (Col. (e), line 2x / Col. (e), line 3)]2 Actual Annual Revenue Requirement 1 Actual Attachment MM p 2 of 2, Col. 142 True-Up Adjustment Principal Under/(Over) Applicable Interest Rate on Under/(Over) True-Up Adjustment Interest Under/(Over) MTEP Project Attachment MM Number Actual Total True-Up Adjustment Line No. Project Name Revenues Col. (h) x Col. (i) x 24 months 2 Col. (g) - Col. (f) Line 5 Col. (h) + Col. (j) 1 Actual Attachment MM revenues for True-Up Year 1 $ 23,828,085 2a Pana-Sugar Creek - CWIP 2b Pana-Sugar Creek - Plant in Service - No HCS 2c Pana-Sugar Creek - Land - No HCS 2d Sidney-Rising - CWIP 2e Sidney-Rising - Plant in Service - No HCS 2f Sidney-Rising - Land - No HCS 2g Adair-Ottumwa - CWIP 2h Adair-Ottumwa - Plant in Service - No HCS 2i Adair-Ottumwa - Land - No HCS 2j Palmyra-Pawnee - CWIP 2k Palmyra-Pawnee - Plant in Service - No HCS 2l Palmyra-Pawnee - Land - No HCS 2m Fargo-Galesburg-Oak Grove - CWIP 2n Fargo-Galesburg-Oak Grove - Plant in Service - No HCS 2o Fargo-Galesburg-Oak Grove - Land - No HCS 2p Pawnee-Pana - CWIP 2q Pawnee-Pana - Plant in Service - No HCS 2r Pawnee-Pana - Land - No HCS 2s Adair-Palmyra - CWIP 2t Adair-Palmyra - Plant in Service - No HCS 2u Adair-Palmyra - Land - No HCS 2237 2237 2237 2239 2239 2239 2248 2248 2248 3017 3017 3017 3022 3022 3022 3169 3169 3169 3170 3170 3170 5,743,325 5,313,539 5,797,022 483,483 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 0.0375% 4,353 487,836 - - - - - - 191,794 1,338,153 177,442 1,238,016 315,591 2,155,431 138,149 917,415 1,244 8,260 139,393 925,675 - - - - - - 113,109 74,113 104,645 68,567 202,524 20,703 97,879 (47,864) 881 (431) 98,760 (48,295) - - - - - - 73,406 67,913 56,901 (11,012) 1,823,157 (99) (11,111) 1,839,573 12,663,053 11,715,449 13,538,606 16,416 - - - - - - 1,089,588 598,737 1,008,052 553,932 1,288,500 296,117 280,448 (257,815) 2,525 (2,321) 282,973 (260,136) - - - - - - 455,648 1,035,565 421,551 958,071 537,677 1,054,194 116,126 96,123 1,046 865 117,172 96,988 - - - - - - 397,509 1,872,691 367,763 1,732,553 445,992 2,222,029 78,229 489,476 704 78,933 493,883 4,407 - - - - - - 108,729 100,593 121,961 21,368 192 21,560 3 Subtotal $ 25,755,420 $ 23,828,086 $ 28,053,248 4 Under/(Over) Recovery $ 4,225,162 $ 38,042 $ 4,263,204 5 Applicable Interest rate per month (expressed to four decimal places) interest rate updated through July, 2015 0.0375% 1 Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment MM, page 2, column 15. Rounded to whole dollars. 2 14
ATXI 2016 PROJECTED MVP SPEND Ameren MVPs Ameren Name 2016 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 $349.6 million 3022 Fargo-Galesburg-Oak Grove 345 kV Line Spoon River $29.8 million 2248 3170 Adair - Ottumwa 345 Adair-Palmyra 345 kV Line Mark Twain $15.9 million 15
AMIL PRICING ZONE SCHEDULE 9 CHARGE 2015 159,478,984 9,851,594 4,421,778 173,752,356 7,095,335 24.488 Jan-16 208,895,649 8,495,791 7,374,750 224,766,190 7,118,197 31.576 Change 49,416,665 -1,355,803 2,952,972 51,013,834 22,861 7.088 0.591 Percent 31% -14% 67% 29% 0% 29% 29% Page.Line 1.7 1.7 1.7 AIC Adjusted Revenue Requirement ATXI Adjusted Revenue Requirement PPI Adjusted Revenue Requirement * Total Revenue Requirement Ameren Illinois Divisor Annual Cost ($/kW-Yr) Network & P-to-P Rate ($/kW-Mo) 1.15 . . 2.041 2.631 * PPI currently uses a historical Attachment O which is updated June 1st each year. The amount shown for 2015 is the PPI ATRR effective as of 6/1/15. Therefore, the 2015 Annual Cost of $24.488 /kw-Yr is the current Schedule 9 rate in effect for the AMIL Pricing Zone. PPI has filed at FERC to begin using a forward looking Attachment O effective 1/1/16. PPI s preliminary revenue requirement for 2016 is reflected above along with the projected 2016 revenue requirements for AIC and ATXI. The total 2016 projected Schedule 9 rate for the AMIL Pricing Zone is $31.576/kW-Yr. 16
Appendix Supplemental Background Information (Not covered during presentation) 18
APPENDIX - MISO ATTACHMENTS O & 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 19
APPENDIX - MISO ATTACHMENT MM Cost recovery for Multi-Value Projects (MVPs) 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 20
APPENDIX - MISO ATTACHMENT O & 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 Since ATXI has no Attachment GG projects, there is no deduction for 26 Revenue Credits Point-to-Point revenue in Schedules 7 & 8 Rental revenue Revenue from generator interconnections 21
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 22
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 23
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 25
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 15 https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/ Pages/MTEP15.aspx Schedule 26 & 26-A Indicative Charges https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/ Pages/MTEPStudies.aspx 26
APPENDIX - ATXI Additional questions on these topics can be sent to Ameren at: MISOFormulaRates@ameren.com 27
