Westar Energy Transmission Projects Update Meeting
Today's meeting covered the status reports on various transmission projects by Westar Energy, including true-up discussions and upcoming projects. Updates on the 345 kV projects and useful resources for Westar TFR and Prairie Wind TFR were also shared. Questions were invited at the end of the session.
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TRANSMISSION FORMULA RATE ANNUAL TRUE-UP CUSTOMER MEETING June 24, 2014 1
Todays Agenda Welcome and Introductions Transmission Project Status Report Westar TFR True-Up Discussion Prairie Wind TFR True-Up Discussion Questions 2 2
Westar Energys 2014 Mid-Year Transmission Project Status Report June 24, 2014 3
2007 2008 2009 2010 2011 2012 2013 2014 4 16 4
345 kV Projects: Wichita-Thistle-Woodward Prairie Wind Transmission s Project Westar s Wichita Sub to ITC s Thistle Sub to OGE s Woodward Sub In-Service June, 2014 5 5
345 kV Projects: SummitElm Creek Westar s Summit Sub to ITC s Elm Creek Sub Currently scheduled to be completed by the end of 2016 6 6
345 kV Projects: Bluestem Substation A new 345-115 kV substation and new 115 kV line Currently scheduled to be completed by the summer of 2017 7 7
Questions? 8 8
Useful Resources For the Westar TFR: http://www.oatioasis.com/WR/index.html All related documents are in the folders on the left side of the screen. For the Prairie Wind TFR: http://sppoasis.spp.org/documents/SWPP/MemberRelatedPostings/MemberRelated Postings.asp Click Prairie Wind Information to find all related documents. 9 9
Westar Energys Annual Transmission Revenue Requirement True-Up Meeting for Rate Year 2013 June 24, 2014 10 10
Today Quick Review of the Westar Energy Transmission Formula The Results: 2013 Actual ATRR vs. Projected 2013 ATRR Protocol Review 11 11
Quick Review: The Westar Transmission Formula (True-Up) Gross Revenue Requirement (GRR) includes: Actual Transmission Plant Actual Transmission O&M Actual Transmission Depreciation Expense Taxes Return Net Revenue Requirement adjusts the GRR for: Revenue Credits received for Point-to-Point Transmission Service and revenue received from Network customers outside the Westar pricing zone Rent received (i.e. pole attachments) 12 12
A Refresher of the Timing (Example: 2015 Rate Year) June 2014: True-up Amount from prior Rate Year (2013) is posted October 2014: Projected ATRR for the next Rate Year (2015) is posted Next Rate Year (2015) includes the 2013 True-up and 2015 Projected ATRR 13 13
Quick Review: The Fall 2013 ATRR Re-Posting Westar re-posted the 2014 ATRR last fall to make adjustments to the Revenue Credits component Originally included revenue from NITS customers who are not connected to Westar s system for Base Plan Funded (BPF) facilities Should have only included Point-to-Point revenues Result: Understatement of BPF and Zonal ATRR We recalculated with the data available at the time Adjustments related to the recalculation for the 2011 and 2012 Rate Years were included in the 2014 ATRR Adjustments related to the recalculation for the 2008-2010 rate years are in the True-up for 2013, so will be applied to the 2015 ATRR 14 14
The Results: Projected vs Actual ATRR for 2013 Projected Actual Difference $230,234,224 $208,750,808 ($21,483,415) Westar s Gross Rev. Requirement Revenue Credits ($ 22,198,015) ($16,107,745) $ 6,397,295 $208,036,209 * $192,643,063 ($15,393,144) Westar s Net Rev. Requirement Adjustment to 2008-2010 ATRR $ 0 $15,914,642 $15,914,642 True-Up Amount ** (before interest) $ 521,496 * 2013 Projected Net Revenue Requirement without the 2011 True-Up ** Amount to be applied to 2015 ATRR (plus interest), in the rates effective January 1, 2015 15 15
A Review of Westar Formula Protocols Today: June 24, 2014 Data requests regarding this true-up calculation may be submitted until September 8, 2014 Westar will make its best effort to respond within 10 business days of the receipt of such requests Send comments or data requests via e-mail to: Donna Lehman at donna.lehman@westarenergy.com Please cc: gelene.tiller@westarenergy.com and suzanne.lane@westarenergy.com 16 16
Summary Thank you very much for participating in today s meeting! We are here to assist in any way possible. Please let us know if you have any questions. SAVE THE DATE FOR THE 2015 ANNUAL WESTAR ATRR MEETING: October 28, 2014 17 17
Prairie Wind Transmissions Annual Transmission Revenue Requirement True-Up Meeting for Rate Year 2013 June 24, 2014 18 18
Today Quick Review of the Prairie Wind Transmission (PWT) Formula The Results: 2013 Actual ATRR vs. Projected 2013 ATRR Protocol Review 19 19
Quick Review: The PWT Transmission Formula (True-Up) Gross Revenue Requirement (GRR) includes: Actual Transmission Plant Actual Transmission O&M Actual Transmission Depreciation Expense Taxes Return Actual CWIP is included as an adjustment to Rate Base Net Revenue Requirement adjusts the GRR for: Revenue Credits received for Point-to-Point Transmission Service True-up adjustment 20 20
A Refresher of the Timing (Example: 2015 Rate Year) June 2014: True-up Amount from prior Rate Year (2013) is posted September 2014: Projected ATRR for the next Rate Year (2015) is posted Next Rate Year (2015) includes the 2013 True-up and 2015 Projected ATRR 21 21
The Results: Projected vs Actual ATRR for 2013 Projected Actual Difference $14,647,675 $11,891,506 ($ 2,756,169) PWT s Gross Rev. Requirement Revenue Credits ($ 55,542) ($ 1,708,517) ($ 1,652,975) True-Up Adjustment ($ 101,299) ($ 101,299) $ 0 ($ 4,409,144) $14,490,834 $10,081,690 PWT s Net Rev. Requirement True-Up Amount* (before interest) ($ 4,409,144) * Amount to be applied to 2015 ATRR (plus interest), in the rates effective January 1, 2015 22 22
A Review of PWT Formula Protocols Today: June 24, 2014 Data requests regarding this true-up calculation may be submitted until September 28, 2014 Westar will make its best effort to respond within 15 business days of the receipt of such requests Send comments or data requests via e-mail to: Donna Lehman at donna.lehman@westarenergy.com Please cc: gelene.tiller@westarenergy.com and suzanne.lane@westarenergy.com 23 23
Summary Thank you very much for participating in today s meeting! We are here to assist in any way possible. Please let us know if you have any questions. Safe travels home! SAVE THE DATE FOR THE 2015 ANNUAL PRAIRIE WIND ATRR MEETING: September 23, 2014 24 24
