2013 Attachment O True-Up Customer Meeting August 13, 2014.

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Presentation transcript:

2013 Attachment O True-Up Customer Meeting August 13, 2014

 Agenda ◦ Introduction ◦ Purpose of Today’s Meeting ◦ Attachment O Rates Structure ◦ Regulatory Timeline ◦ Disclosure ◦ 2013 True Up and Projected Attachment O Review ◦ Questions 2013 True-Up Customer Meeting

◦ Comply with the new Formula Rate Protocol requiring a Customer Meeting to discuss the Actual 2013 Attachment O rate information between June 1 and September 1. ◦ Review the 2013 True-Up calculation that will be included in the development of the projected rates that will be effective January 1 through December 31, ◦ Review and compare the 2013 actual Attachment O information and 2013 budget Attachment O information upon which 2013 Attachment O rates were based True-Up Meeting Purpose

◦ Minnesota Power Attachment O to the MISO Tariff  Develops rates for the AC system  Schedule 7 Firm Point to Point Transactions  Schedule 8 Non Firm Point to Point Transactions  Schedule 9 Network Transmission Service  Develops rate for the HVDC system  Schedule 7 Firm Point to Point Transactions Minnesota Power Attachment O Rates Structure

◦ Submitted to MISO and posted on MISO’s website on May 28, 2014 ◦ MISO is in the process of reviewing Minnesota Power’s 2013 True-Up Attachment O ◦ The 2013 true-up amount, plus any interest will be applied to the annual 2015 Attachment O revenue requirement and rates. Minnesota Power 2013 True-Up Attachment O

Minnesota Power Formula Rate Protocol Timeline /1/20149/1/201410/ True-up Posting Information Request & Informal Challenge Period Begin Projected Posting 8/13/2014 True-up Customer Meeting Projected Customer Meeting 10/16/2014 Regional Cost Shared Project Meeting Information Request Period Ends 12/1/2014 1/10/2015 Information Request Response Deadline Informal Challenge Period Ends 1/31/2015 2/28/2015 Informal Challenge Response Deadline Informational Filing Deadline 3/15/2015 3/31/2015 Formal Challenge Deadline

2013 True Up Results

◦ Minnesota Power’s 2013 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 2013 True-Up Attachment O, filed at MISO on May 28, True-Up Disclosure

2013 AC System True-Up Results

2013 AC System True-Up History

2013 Budgeted vs. Actual Revenue Requirement

2013 Budgeted vs. Actual Operating Costs

2013 Budgeted vs. Actual Operating Cost Detail

2013 Budgeted vs. Actual Return Requirement

2013 Budgeted vs. Actual Return Requirement Detail Change in Rate Base

2013 Budgeted vs. Actual Return Requirement Detail Change in Cost of Capital

2013 Budgeted vs. Actual Return Requirement Detail Change of Return Calculation Higher Return Requirement was caused by increase in Rate Base:

2013 Budgeted vs. Actual Attachment GG and ZZ Credits

2013 Budgeted vs. Actual Lower Attachments GG and ZZ Credits Detail

2013 Budgeted vs. Actual Revenue Credits

2013 Budgeted vs. Actual Revenue Credit Detail

2013 DC System True-Up Results

2013 DC System True-Up History

2013 Budgeted vs. Actual DC Revenue Requirement

2013 Budgeted vs. Actual DC Operating Costs

2013 Budgeted vs. Actual DC Operating Cost Detail

2013 Budgeted vs. Actual DC Return Requirement

2013 Budgeted vs. Actual DC Return Requirement Detail Change in Rate Base

2013 Budgeted vs. Actual DC Return Requirement Detail Change in Cost of Capital

2013 Budgeted vs. Actual DC Return Requirement Detail Change of Return Calculation Higher Return Requirement was caused by increase in Rate Base:

2013 Budgeted vs. Actual DC Attachment ZZ Credit

2013 Budgeted vs. Actual Attachment ZZ Credit Detail

2013 Budgeted vs. Actual DC Revenue Credit

2013 Budgeted vs. Actual DC Revenue Credit Detail

2013 Budgeted vs. Actual DC Attachment N-1 Project Credit

2013 Budgeted vs. Actual DC Attachment N-1 Project Credit Detail

◦ Interested Parties can submit information requests until December 1, 2014.* ◦ MP shall make a good faith effort to respond within 15 business days. ◦ Submit information requests via to: ◦ All questions and responses will be distributed via 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 ER (FERC’s Investigation of MISO Formula Rate Protocols) 2013 True-Up Information Exchange

Questions? 2013 Transmission Customer Meeting

Contacts: Tim Bradshaw (218) Jeanne Kallberg (218) Kara Henderson (218) Transmission Customer Meeting