Transmission Rates Update and Annual Meeting Details
Get insights into Muscatine Power & Water's transmission rates update and the upcoming annual meeting on August 27th, 2019. Learn about their formula rate template, Attachment O submission process, and financial requirements for 2019.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
Muscatine Power & Water Attachment O Annual Meeting Transmission Formula Rate Update August 27th, 2019
Background Muscatine Power & Water (MP&W) became a Transmission Owning member of MISO in September 2009 As a Transmission Owner (TO), MP&W must annually establish rates for open access use of its transmission assets MP&W utilizes MISO s standard (pro forma) Attachment O formula rate template to determine these rates MP&W utilizes the Non-levelized Attachment O template based on data from EIA 412 EIA (Energy Information Administration) form 412 is a standard annual financial reporting form prepared by electric utilities and filed with EIA MP&W is no longer required to file an EIA-412, but it is prepared to support Attachment O preparation Muscatine Power & Water August 27, 2019
Purpose of Annual Meeting Allow for public/stakeholder comment related to MP&W s 2019 Attachment O submittal Based on 2018 Calendar Year audited financial statements Muscatine Power & Water August 27, 2019
Attachment O Timeline Due Date Item Comment Jun 1st, 2019 Publish Attachment O and supporting documentation based on 2018 Calendar Year actual data MP&W data published on 5/24/2019 Sep 1st, 2019 Hold Annual Meeting on annual formula rate update MP&W meeting scheduled for 8/27/19 Dec 1st, 2019 Deadline for Interested Parties to submit information requests Jan 10th, 2020 Deadline for TO to respond to information requests Jan 31st, 2020 Deadline for Interested Parties to submit Informal Challenges Feb 28th, 2020 Deadline for TO to respond to Informal Challenges Mar 15th, 2020 Submit Informational Filing to FERC April 15th, 2020 Deadline for Interested Parties to submit Formal Challenge to FERC MISO Attachment O Rate Data Webpage: https://www.misoenergy.org/markets-and-operations/ts-pricing/to-rate-data/ August 27, 2019
2019 Attachment O Summary Item 2019 Actual Rate Base $ 6,529,693 O&M $ 2,108,358 Depreciation $ 607,557 Other Taxes $ 98,048 Return [1] $ 706,513 Gross Revenue Requirement $ 3,520,476 Revenue Credits $ 21,314 Net Revenue Requirement $ 3,499,162 Transmission Rate $ 2.310 ($/kW-mo) [1] Return is calculated based on a percentage Return on Equity as approved for MISO Transmission Owners by FERC Note: Preparation of the 2019 Attachment O followed the procedures that were reviewed and refined by an external consultant during the 2013 Attachment O preparation Muscatine Power & Water August 27, 2019
Historical Comparison Item 2018 Actual 2019 Actual Comment Increases due to a substation transformer refurbishment and A&G asset purchases (hardened headend and new financial/payroll system). Rate Base $ 6,271,492 $ 6,529,693 Increases include RSC second position and increased allocation to transmission for labor on related work. O&M $ 1,980,337 $ 2,108,358 Depreciation increased due to addition of the South Sub upgrades and $1.2M in capital additions. Depreciation $ 409,546 $ 607,557 Increased due to wage allocation related to amount of transmission related work. Other Taxes $ 80,533 $ 98,048 Return $ 678,575 $ 706,513 Gross Revenue Requirement $ 3,148,991 $ 3,520,476 Revenue Credits $ 17,923 $ 21,314 Net Revenue Requirement $ 3,131,067 $ 3,499,162 Transmission Rate $ 2.161 ($/kW-mo) $ 2.310 ($/kW-mo) Muscatine Power & Water August 27, 2019
Contact Information Ryan Streck Director of Utility Service Delivery Office: 563-262-3321 Email: rstreck@mpw.org MPW OATI OASIS Webpage http://www.oasis.oati.com/MPWM/ Muscatine Power & Water August 27, 2019
