1. 2014 Annual Attachment O Stakeholder Meeting Ameren Missouri
August 18,2014

2. Agenda
Primary purpose is to review AMMO Pricing Zone Historical 2013 Transmission Rate Calculations which became effective June 1, 2014
Background on Attachment O,GG & MM
Overview of MTEP
Ameren Missouri Rate Inputs
New Rate Protocols
Comparison to Previous Revenue Requirement
2014 AMMO Pricing Zone NITS Charge

3. Ameren Missouri
Ameren Missouri is a transmission-owning subsidiary of Ameren Corporation, as well as a MISO Transmission Owner (TO)
Ameren Illinois and Ameren Transmission Company of Illinois (ATXI) are two other Ameren subsidiaries that are MISO TOs.
ATXI was formed to build and own new regional transmission projects such as the MISO Multi-Value Projects
Ameren Missouri will continue to build and own traditional reliability projects needed to meet local needs and continue to maintain its existing transmission system
Ameren Missouri is currently building a new local reliability project in Southeast Missouri.
Ameren Missouri is the only MISO Transmission Owner in the AMMO pricing zone.

4. Calculate rates for Schedules 9, 26 & 26-A
MISO ATTACHMENTs O & GG
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

5. Cost Recovery for certain Network Upgrades Eligible projects
MISO ATTACHMENT gg
Cost Recovery for certain Network Upgrades
Eligible projects
Market Efficiency
Generator Interconnections
Cost shared based upon project type
MISO-wide based on load
Subregional based on LODF (Line Outage Distribution Factor)
Ameren Missouri has three Attachment GG projects completed
One additional project under construction
These projects were approved by MISO under prior Tariff provisions which allowed limited cost sharing for certain reliability projects
Attachment MM is very similar to Attachment GG
Applies to MISO Multi-Value Projects, but is not applicable to Ameren Missouri since it is not building or developing any MVPs.

6. All transmission costs included in Attachment O calculation
MISO ATTACHMENT O & GG
All transmission costs included in Attachment O calculation
Schedule 9 based on net revenue requirement – reductions for:
Any costs recovered in Schedules 26 & 26-A
Revenue Credits
Point-to-Point revenue in Schedules 7 & 8
Rental revenue
Revenue from generator interconnections
Questions on Tariffs?

7. 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

8. Rate base items based on Dec 31 ending balances
AMMO rate Inputs
Rates calculated using prior year FERC Form 1 data (historical calculation)
Rate base items based on Dec 31 ending balances
Only wholesale customers pay the Schedule 9 Rate in AMMO
About 6% of load
Ameren Missouri retail customers
Transmission facilities & costs included in bundled rates set by MoPSC
Pay for other MISO transmission related costs through the FAC
Note that some Transmission Owners’ rate calculations are different
Rates are initially set based on projected data
Annual True-up calculation to reflect actual costs reported in Form 1

9. The TOs filed compliance filings on September 13, 2013
New Rate Protocols
On May 16, 2013, FERC issued order EL12-35 concerning required modifications to MISO rate protocols. 
The order requires MISO and the MISO Transmission Owners to modify the formula rate protocols to
Allow for increased scope of participation by Interested Parties
Allow for increased transparency concerning the implementation of the formula rate,
Define a process for information exchange
Allow for provision of additional information; and well-defined and clearly-structured challenge procedure
Require MISO and the MISO Transmission Owners to make an annual informational filing with FERC
The TOs filed compliance filings on September 13, 2013
Requested an effective date of January 1, 2014
The protocols will be applicable for the first subsequent Annual Update and Annual True-Up, which will take place on June 1, 2014

10. The TOs filed compliance filings on May 19, 2014
New Rate Protocols
On March 20, 2014, FERC issued order ER concerning additional required modifications to MISO rate protocols. 
The TOs filed compliance filings on May 19, 2014
The protocols were applicable for the first subsequent Annual Update and Annual True-Up, which took place on June 1, 2014

11. New Protocol timeline Date Action (Historical) June 1
Posting of annual update
Information exchange period begins.
Review period begins.
September 1
Deadline for annual meeting
November 1
Deadline for joint meeting on regional cost-shared projects
December 1
Deadline for Interested Parties to submit information requests
January 10
Deadline for Transmission Owners to respond to information requests
January 31
Deadline for Interested Parties to submit Informal Challenges
February 28
Deadline for Transmission Owners to respond to Informal Challenges
Any rate changes agreed to by the Transmission Owner will be included in the Information Filing and will be reflected in the Annual Update for the following Rate Year.
March 15
Transmission Owners submit informational filing to the Commission.
March 31
Deadline for Interested Parties to file Formal Challenge at the Commission

12. AMMO Revenue Requirement
June 2013 vs June 2014 Filings

13. Ammo June 2014 filing Rate Base Jun-13 Jun-14 Change Percent 2.6
Page.Line
Jun-13
Jun-14
Change
Percent
2.6
Total Gross Plant
776,445,309
843,566,308
67,120,999 9%
2.12
Total Accum Depreciation
269,340,644
282,535,080
13,194,436 5%
2.18
TOTAL NET PLANT
507,104,666
561,031,228
53,926,563
11%
ADJUSTMENTS TO RATE BASE
2.20
Account No. 282
-131,790,859
-151,726,236
-19,935,377
15%
2.21
Account No. 283
-8,122,036
-6,995,936
1,126,101
-14%
2.22
Account No. 190
2,918,080
5,296,917
2,378,837
82%
2.25
Land Held for Future Use
762,157
799,480
37,323
2.26
CWC
3,098,421
3,090,433
-7,988 0%
2.27
Materials & Supplies
5,034,721
6,883,099
1,848,378
37%
2.28
Prepayments
847,278
901,287
54,009 6%
TOTAL ADJUSTMENTS
-127,252,239
-141,750,957
-14,498,717
2.30
TOTAL RATE BASE
379,852,426
419,280,272
39,427,845
10%

14. Ammo June 2014 filing Expenses Jun-13 Jun-14 Change Percent O&M 3.1
Page.Line
Jun-13
Jun-14
Change
Percent
O&M
3.1
Transmission
48,403,470
56,001,557
7,598,087
16%
3.1a
Less LSE Expenses
7,206,932
6,469,229
-737,703
-10%
3.2
Less Account 565
22,683,675
30,809,160
8,125,485
36%
3.3
A&G
6,135,752
5,704,062
-431,691
-7%
3.4
Less FERC Annual Fees
N/A
3.5
Less EPRI, ect.
559,298
445,447
-113,851
-20%
3.5a
Plus Trans. Reg. Comm. Exp
9,639
67,179
57,540
597%
3.7
Transmission Lease Payments
688,410
674,502
-13,908
-2%
3.8
TOTAL O&M
24,787,367
24,723,464
-63,903 0%
3.12
TOTAL DEPRECIATION
17,210,309
18,065,642
855,333 5%
TAXES
3.13
Payroll
568,377
477,114
-91,263
-16%
3.16
Property
7,105,907
7,898,117
792,211
11%
3.18
Other
103,478
87,186
-16,291
3.27
Income Taxes
14,594,551
16,529,798
1,935,246
13%
TOTAL TAXES
22,372,313
24,992,215
2,619,902
12%
TOTAL EXPENSES
64,369,990
67,781,322
3,411,332

15. Ammo June 2014 filing Capital Structure Capital Structure - 2013 $ %
Page.Line $ %
Cost
Weighted
4.27
Long Term Debt
3,709,271,000
48%
0.0567
0.0271
4.28
Preferred Stock
80,759,500 1%
0.0424
0.0004
4.29
Common Stock
3,973,425,626
51%
0.1238
0.0634
4.30
Total
7,763,456,126
100%
0.0909
Capital Structure
3,465,276,000
46%
0.0588
0.0273
0.0005
3,912,960,927
52%
0.0649
7,458,996,427
0.0927
Change in Return
0.1846%

16. Ammo June 2014 filing Revenue Requirement Jun-13 Jun-14 Change Percent
Page.Line
Jun-13
Jun-14
Change
Percent
2.30
TOTAL RATE BASE
379,852,426
419,280,272
39,427,845
10%
4.30
Rate of Return
9.09%
9.27%
0.18% 2%
3.28
Return
34,518,214
38,875,220
4,357,006
13%
Total Expenses
64,369,990
67,781,322
3,411,332 5%
3.29
TOTAL GROSS REV. REQ.
98,888,204
106,656,542
7,768,338 8%
3.30
Less ATT. GG Adjustment
9,037,581
8,879,847
-157,734
-2%
3.30a
Less ATT. MM Adjustment
N/A
3.31
GROSS REV. REQ. UNDER ATT. O
89,850,623
97,776,695
7,926,072 9%

17. Net Revenue Requirement
Ammo June 2014 filing
Net Revenue Requirement
Page.Line
Jun-13
Jun-14
Change
Percent
1.1
Gross Revenue Requirement
89,850,623
97,776,695
7,926,072 9%
1.6
Total Revenue Credits
8,417,404
9,091,089
673,685 8%
1.7
NET REVENUE REQUIREMENT
81,433,219
88,685,606
7,252,387

18. Schedule 9 Rate Calculation
Ammo June 2014 filing
Schedule 9 Rate Calculation
Page.Line
2013
2014
Change
Percent
1.7
Net Revenue Requirement
81,433,219
88,685,606
7,252,387 9%
1.15
Ameren Missouri Divisor
6,847,897
6,900,307
52,410 1% .
Annual Cost ($/kW/Yr)
11.892
12.852
0.961 8%
Network & P-to-P Rate ($/kW/Mo)
0.991
1.071
0.080

19. Attachment GG Calculation - Page 1
Ammo June 2014 filing
Attachment GG Calculation - Page 1
(1)
(2)
(3)
(4)
Attachment O
Line
Page, Line, Col.
Transmission
Allocator
No. 1
Gross Transmission Plant - Total
Attach O, p 2, line 2 col 5 (Note A)
829,297,144 2
Net Transmission Plant - Total
Attach O, p 2, line 14 and 23b col 5 (Note B)
553,300,739
O&M EXPENSE 3
Total O&M Allocated to Transmission
Attach O, p 3, line 8 col 5
24,723,464 4
Annual Allocation Factor for O&M
(line 3 divided by line 1 col 3)
2.98%
GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE 5
Total G&C Depreciation Expense
Attach O, p 3, lines 10 & 11, col 5 (Note H)
618,458 6
Annual Allocation Factor for G&C Depreciation Expense
(line 5 divided by line 1 col 3)
0.07%
TAXES OTHER THAN INCOME TAXES 7
Total Other Taxes
Attach O, p 3, line 20 col 5
8,462,417 8
Annual Allocation Factor for Other Taxes
(line 7 divided by line 1 col 3)
1.02% 9
Annual Allocation Factor for Expense
Sum of line 4, 6, and 8
4.08%
INCOME TAXES 10
Total Income Taxes
Attach O, p 3, line 27 col 5
16,529,798 11
Annual Allocation Factor for Income Taxes
(line 10 divided by line 2 col 3)
2.99%
RETURN 12
Return on Rate Base
Attach O, p 3, line 28 col 5
38,875,220 13
Annual Allocation Factor for Return on Rate Base
(line 12 divided by line 2 col 3)
7.03% 14
Annual Allocation Factor for Return
Sum of line 11 and 13
10.01%

20. Attachment GG Calculation - Page 2
Ammo June 2014 filing
Attachment GG Calculation - Page 2
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
Line No.
Project Name
MTEP Project Number
Project Gross Plant
Annual Allocation Factor for Expense
Annual Expense Charge
Project Net Plant
Annual Allocation Factor for Return
Annual Return Charge
(Note C)
(Page 1 line 9)
(Col. 3 * Col. 4)
(Note D)
(Page 1 line 14)
(Col. 6 * Col. 7) 1a
Big River-Rockwood 138 kV
152
$ ,927,624
4.08%
$812,302.53
$ ,228,224
10.01%
$1,925,426.82 1b
Reconductor Sioux-Huster-1 and kV
1240
$ ,481,687
$631,074.43
$ ,782,578
$1,480,260.12 1c
Gray Summit : 2nd 345/138 kV Transformer
2061
$ ,610,367
$921,658.23
$ ,204,346
$2,123,306.73
(9)
(10)
(11)
(12)
Project Depreciation Expense
Annual Revenue Requirement
True-Up Adjustment
Network Upgrade Charge
(Note E)
(Sum Col. 5, 8 & 9)
(Note F)
Sum Col. 10 & 11 (Note G)
$293,785
$3,031,514.04 $
3,031,514
$284,683
$2,396,017.40
2,396,017
$407,350
$3,452,315.33
3,452,315 2
Annual Totals
$8,879,847 $0 3
Rev. Req. Adj For Attachment O

21. Significant Line Expansion Projects Not in Service
Ameren Missouri
Significant Line Expansion Projects Not in Service
Project Name
Total Cost
ISD
MTEP
MISO ID#
MTEP Description
Cape Girardeau Electric Reliability Project (Northwest Cape Area 345/161 kV Substation)
$50 M
2016
MTEP11
2306
Install 560 MVA, 345/161 kV Transformer. Provide 345 kV supply from 11 mile 345 kV line extension from Lutesville Substation

22. Transmission Pricing - Attachments O, GG & MM Information
Miso web links
Transmission Pricing - Attachments O, GG & MM Information
Ameren OASIS
MTEP 13
MTEP 14
Schedule 26 & 26-A Indicative Charges

23. QUESTIONS?