1. 2019 Attachment O Projection Stakeholder Meeting
Ameren Transmission Company of Illinois
September 25, 2018

2. Purpose is to review 2019 Projected Transmission Rate Calculations
Agenda
Purpose is to review 2019 Projected Transmission Rate Calculations
Protocol Timeline
ROE Complaint Cases
ATXI 2019 Projection
Attachment O
Attachment MM
2019 AMIL Pricing Zone NITS Charge
2019 MVP Spend
ER filing to remove double averaging from ADIT proration

3. (Forward-Looking Protocols)
Protocol timeline
Date
Schedule
(Forward-Looking Protocols)
June 1
Posting of annual true-up for prior year
September 1
Deadline for annual true-up meeting
Posting of net projected revenue requirement for following year
October 15
Deadline for annual projected rate meeting
November 1
Deadline for joint meeting on regional cost-shared projects
March 15
Transmission Owners submit informational filing to the Commission

4. ROE complaints MISO ROE Complaints RTO Adder (ER15-358)
1st Complaint (EL14-12)
Covers November 12, 2013 through February 11, 2015
FERC order received September 28, 2016; set the Base ROE at 10.32%
Applicable going forward until 2nd complaint order
2nd Complaint (EL15-45)
Covers February 12, 2015 through May 11, 2016
Initial decision issued June 30, 2016; recommended Base ROE at 9.70%
Additional refunds will be required upon receipt of Final Order
RTO Adder (ER15-358)
FERC approved a 50 basis point adder for participation in an RTO
Effective January 6, 2015, applicable to complaint case refunds after that date and going forward (i.e., total ROE is now 10.82%)

5. MISO ROE for the 2017 True-Up and 2019 Projection is 10.82%
ROE complaints
MISO ROE for the 2017 True-Up and 2019 Projection is 10.82%
Refunds already provided for EL14-12
Two phase process
Phase 1 related to ROE impact on projected rates for forward looking TOs and annual updates for historical TOs. These were settled in February 2017.
2013, 2014 & 2015 projected rates from 11/12/13 to 2/11/15
Phase 2 related to the ROE impact on true-ups calculations for forward looking TOs. These were settled in June 2017.
2013, 2014 & 2015 True-ups included in 2015, 2016 and 2017 projected rates
Refunds for Schedules 7, 8, 26, 37, 38, 26A were completed by MISO
Refunds for Schedule 9 were processed by Ameren
Schedule 9 Refund amounts and supporting documents are posted on Ameren’s OASIS

6. ATXI Revenue Requirement
Projected 2018 vs Projected 2019
(Projected 2018 = Current Effective Calculation at FIT of 21%)

7. ATXI 2019 Projected Rate Base
Page.Line
2018 Projection
2019 Projection
Change
Percent
2.6
Total Gross Plant
1,287,715,104
1,442,510,559
154,795,455
12%
2.12
Total Accum Depreciation
43,663,636
67,216,186
23,552,550
54%
2.18
TOTAL NET PLANT
1,244,051,468
1,375,294,373
131,242,905
11%
2.18a
100% CWIP RECOVERY
179,259,075
176,840,028
-2,419,047
-1%
ADJUSTMENTS TO RATE BASE
2.20
Account No. 282
-210,933,057
-257,682,103
-46,749,046
22%
2.21
Account No. 283
-3,795,167
-3,500,572
294,595
-8%
2.22
Account No. 190
56,643,669
42,249,132
-14,394,537
-25%
2.25
Land Held for Future Use
N/A
2.26
CWC
1,841,296
1,792,750
-48,547
-3%
2.27
Materials & Supplies
2.28
Prepayments
386,923
365,285
-21,638
-6%
TOTAL ADJUSTMENTS
-155,856,335
-216,775,508
-60,919,172
39%
2.30
TOTAL RATE BASE
1,267,454,207
1,335,358,893
67,904,686 5%

8. ATXI 2019 Projected Expenses
Page.Line
2018 Projection
2019 Projection
Change
Percent
O&M
3.1
Transmission
3,022,265
3,354,258
331,993
11%
3.1a
Less LSE Expenses
N/A
3.2
Less Account 565
3.3
A&G
11,708,106
10,987,742
-720,365
-6%
3.4
Less FERC Annual Fees
3.5
Less EPRI, etc.
26,233
50,877
24,644
94%
3.5a
Plus Trans. Reg. Comm. Exp
3.8
TOTAL O&M
14,730,372
14,342,000
-388,372
-3%
3.12
TOTAL DEPRECIATION
28,881,967
28,094,972
-786,995
TAXES
3.13
Payroll
3.16
Property
3,510,160
1,832,000
-1,678,160
-48%
3.18
Other
673,000
631,000
-42,000
3.27
Income Taxes *
30,388,622
31,111,623
723,001 2%
TOTAL TAXES
34,571,782
33,574,623
-997,159
TOTAL EXPENSES
78,184,121
76,011,594
-2,172,526
* The 2019 projected income taxes include the adjustments related to Docket ER (discussed at 2017 TU meeting).

9. ATXI 2019 Projected capital structure
Capital Structure Projection
Page.Line $ %
Cost
Weighted
4.27
Long Term Debt
550,000,000
43.8%
0.0341
0.0149
4.28
Preferred Stock
0.0% -
4.29
Common Stock
706,796,123
56.2%
0.1082
0.0608
4.30
Total
1,256,796,123
100.0%
0.0758
Capital Structure Projection
525,000,000
43.9%
0.0348
0.0153
671,302,757
56.1%
0.0607
1,196,302,757
0.0760
Actual Capital Structure Return
Hypothetical Capital Structure Return
0.0759
Difference applied to CWIP in Attachment MM
(0.0001)

10. ATXI 2019 Projected total revenue requirement
Page.Line
2018 Projection
2019 Projection
Change
Percent
2.30
TOTAL RATE BASE
1,267,454,207
1,335,358,893
67,904,686 5%
4.30
Rate of Return on ACS
7.58%
7.60%
0.02% 0%
3.28
Return from ACS
96,054,820
101,448,802
5,393,982 6%
2.30a
100% CWIP RECOVERY
179,259,075
176,840,028
-2,419,047
-1%
4.30e
Incremental Rate of Return on HCS
-0.02%
-0.01%
0.01%
-52%
3.28a
Incremental Return from HCS
-31,591
-14,907
16,684
-53%
Total Return
96,023,229
101,433,895
5,410,666
Total Expenses
78,184,121
76,011,594
-2,172,526
-3%
3.29
TOTAL GROSS REV. REQ.
174,207,349
177,445,489
3,238,140 2%
3.30
Less ATT. GG Adjustment
N/A
3.30a
Less ATT. MM Adjustment
166,512,669
170,435,388
3,922,719
3.31
GROSS REV. REQ. UNDER ATT. O
7,694,680
7,010,101
-684,579
-9%

11. Atxi 2019 Projected Net Revenue Requirement & True-up
Page.Line
2018 Projection
2019 Projection
Change
Percent
1.1
Gross Revenue Requirement
7,694,680
7,010,101
-684,579
-9%
1.6
Total Revenue Credits
839,201
950,316
111,115
13%
1.6a
Historic Year Actual ATRR
9,142,207
8,061,139
(1,081,068)
-12%
1.6b
Projected ATRR from Prior Year
8,608,134
9,052,295
444,161 5%
1.6c
Prior Year ATRR True-Up
534,073
(991,156)
(1,525,229)
-286%
1.6d
Prior Year Divisor True-Up
148,506
564,562
416,055
280%
1.6e
Interest on Prior Year True-Up
11,746
(34,431)
(46,177)
-393%
1.7
NET REVENUE REQUIREMENT
7,549,805
5,598,760
-1,951,045
-26%

12. ATXI 2017 Attachment O true-uP
Attachment O 2017 True-up calculation (Schedule 9)
Net Actual 2017 Rev Req (Actual Attach O, Pg 1, Line 7)
$8,061,139
Net Projected 2017 Rev Req (Projected Attach O, Pg 1, Line 7)
$9,052,295
Under/(Over) Collection of 2017 Net Rev Req
($991,156)
Historic Year Actual Divisor for Transmission Owner (Attach O, Pg 1, Line 15)
6,859,419
Proj'd Yr Divisor for Transmission Owner (Projected Attach O, Pg 1, Line 15)
7,315,667
Difference between Historic & Projected Yr Divisor
456,248
Prior Year Projected Annual Cost ($ per kw per yr)
$1.2374
Under/(Over) Collection of 2017 Divisor True-up
$564,561
Total Under/(Over) Recovery
($426,595)
Monthly Interest Rate (Over collection = FERC rate, Under collection = company rate)
0.3363%
Interest For 24 Months
($34,431)
Total 2017 Attachment O True-up Under/(Over) Recovery (To be included in Projected 2019)
($461,026)

13. ATXI 2019 Projected attachment MM
ATXI Attachment MM Calculation - Page 1

14. ATXI 2019 Projected attachment MM
ATXI Attachment MM Calculation - Page 2
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Line No.
Project Name
MTEP Project Number
Project Gross Plant
Project Accumulated Depreciation
Transmission O&M Annual Allocation Factor
Annual Allocation for Transmission O&M Expense
Other Expense Annual Allocation Factor
Annual Allocation for Other Expense
Annual Expense Charge
(Note C)
Page 1 line 4
(Col 4 * Col 5)
Page 1 line 9
(Col 3 * Col 7)
(Col 6 + Col 8)
Multi-Value Projects (MVP) 1a
Pana-Sugar Creek - CWIP
2237
$51,244,694 $0
5.48%
0.94%
$480,222 1b
Pana-Sugar Creek - Plant in Service - No HCS
$271,779,332
$9,789,349
$536,722
$2,546,888
$3,083,610 1c
Pana-Sugar Creek - Land - No HCS
$4,491,616
$42,092 1d
Sidney-Rising - CWIP
2239 1e
Sidney-Rising - Plant in Service - No HCS
$79,926,659
$4,703,544
$257,882
$749,006
$1,006,888 1f
Sidney-Rising - Land - No HCS
$1,285,591
$12,047 1g
Adair-Ottumwa - CWIP
2248
$62,030,157
$581,295 1h
Adair-Ottumwa - Plant in Service - No HCS
$20,999,931
$90,094
$4,940
$196,794
$201,734 1i
Adair-Ottumwa - Land - No HCS
$1,218,497
$11,419 1j
Palmyra-Pawnee - CWIP
3017 1k
Palmyra-Pawnee - Plant in Service - No HCS
$697,003,776
$27,365,393
$1,500,367
$6,531,735
$8,032,102 1l
Palmyra-Pawnee - Land - No HCS
$8,834,274
$82,787 1m
Fargo-Galesburg-Oak Grove - CWIP
3022 1n
Fargo-Galesburg-Oak Grove - Plant in Service - No HCS
$122,259,404
$3,941,229
$216,086
$1,145,713
$1,361,799 1o
Fargo-Galesburg-Oak Grove - Land - No HCS
$3,388,213
$31,751 1p
Pawnee-Pana - CWIP
3169 1q
Pawnee-Pana - Plant in Service - No HCS
$109,637,226
$3,927,771
$215,348
$1,027,428
$1,242,776 1r
Pawnee-Pana - Land - No HCS
$3,302,135
$30,945 1s
Adair-Palmyra - CWIP
3170
$63,565,176
$595,679 1t
Adair-Palmyra - Plant in Service - No HCS
$44,156,927
$1,753,163
$96,121
$413,802
$509,923 1u
Adair-Palmyra - Land - No HCS
$769,449
$7,211

15. ATXI 2019 Projected attachment MM
ATXI Attachment MM Calculation - Page 2 (Continued)
(1)
(2)
(10)
(11)
(11a)
(12)
(13)
(14)
(15)
(16)
Line No.
Project Name
MTEP Project Number
Project Net Plant
Annual Allocation Factor for Return
Annual Allocation Factor for HCS Return
Annual Return Charge
Project Depreciation Expense
Annual Revenue Requirement
True-Up Adjustment
MVP Annual Adjusted Revenue Requirement
(Col 3 - Col 4)
(Page 1 line 14)
(Page 1 line 15) (Note J)
(Col 10 * (Col a))
(Note E)
(Sum Col. 9, 12 & 13)
(Note F)
Sum Col. 14 & 15 (Note G)
Multi-Value Projects (MVP) 1a
Pana-Sugar Creek - CWIP
2237
$51,244,694
8.56%
-0.01%
$4,384,453 $0
$4,864,675
$1,514,491
$6,379,166 1b
Pana-Sugar Creek - Plant in Service - No HCS
$261,989,983
0.00%
$22,437,730
$5,196,852
$30,718,192
$892,923
$31,611,115 1c
Pana-Sugar Creek - Land - No HCS
$4,491,616
$384,678
$426,770
$31,064
$457,834 1d
Sidney-Rising - CWIP
2239 1e
Sidney-Rising - Plant in Service - No HCS
$75,223,115
$6,442,368
$1,682,065
$9,131,321
$552,336
$9,683,657 1f
Sidney-Rising - Land - No HCS
$1,285,591
$110,102
$122,149
$8,850
$130,999 1g
Adair-Ottumwa - CWIP
2248
$62,030,157
$5,307,249
$5,888,544
-$1,262,616
$4,625,928 1h
Adair-Ottumwa - Plant in Service - No HCS
$20,909,837
$1,790,791
$367,244
$2,359,769 1i
Adair-Ottumwa - Land - No HCS
$1,218,497
$104,356
$115,775
$6,062
$121,837 1j
Palmyra-Pawnee - CWIP
3017
-$2,858,043 1k
Palmyra-Pawnee - Plant in Service - No HCS
$669,638,383
$57,350,153
$12,887,750
$78,270,005
$9,027,679
$87,297,684 1l
Palmyra-Pawnee - Land - No HCS
$8,834,274
$756,598
$839,385
$61,272
$900,657 1m
Fargo-Galesburg-Oak Grove - CWIP
3022
$2,512,877 1n
Fargo-Galesburg-Oak Grove - Plant in Service - No HCS
$118,318,175
$10,133,179
$2,242,286
$13,737,264
-$1,014,845
$12,722,419 1o
Fargo-Galesburg-Oak Grove - Land - No HCS
$3,388,213
$290,178
$321,929
$23,169
$345,098 1p
Pawnee-Pana - CWIP
3169
-$208,103 1q
Pawnee-Pana - Plant in Service - No HCS
$105,709,455
$9,053,324
$2,010,086
$12,306,186
$1,959,432
$14,265,618 1r
Pawnee-Pana - Land - No HCS
$3,302,135
$282,806
$313,751
$22,826
$336,577 1s
Adair-Palmyra - CWIP
3170
$63,565,176
$5,438,584
$6,034,263
-$1,378,162
$4,656,101 1t
Adair-Palmyra - Plant in Service - No HCS
$42,403,764
$3,631,605
$770,773
$4,912,301
$355,825
$5,268,126 1u
Adair-Palmyra - Land - No HCS
$769,449
$65,898
$73,109
$5,319
$78,428 2
MVP Total Annual Revenue Requirements
$170,435,388
$10,252,356
$180,687,744 3
Rev. Req. Adj For Attachment O

16. ATXI 2017 attachment MM true-up for Schedule 26-A
Attachment MM 2017 True-up (Schedule 26-A)
Actual Attachment MM Rev Req for True-Up Year (Actual Attach MM, pg 2, col 14) 1
$159,706,197
Actual Attachment MM Revenues for 20171
$149,703,040
Under/(Over) Recovery of 2017 MM Rev Req
$10,003,157
Monthly Interest Rate (Over collection = FERC rate, Under collection = company rate)
0.1038%
Interest For 24 Months
$249,199
Total 2017 Attachment MM True-up Under/(Over) Recovery
$10,252,356
1 Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment MM, page 2, column 15.

17. AMIL Pricing Zone Schedule 9 charge
Page.Line
2018 projection
2019 projection
Change
Percent
1.7
AIC Adjusted Revenue Requirement
$237,068,060
$270,941,881
33,873,821
14%
ATXI Adjusted Revenue Requirement
$7,549,805
$5,598,760
-1,951,045
-26%
Hoosier Adjusted Revenue Requirement
$1,480,466 0%
PPI Adjusted Revenue Requirement
$7,864,052
Total Revenue Requirement
$253,962,383
$285,885,159
$31,922,776
13%
1.15
Ameren Illinois Divisor
7,176,333
6,942,250
-234,083
-3%
Annual Cost ($/kW/Yr)
$35.39
$41.18
5.79
16%
Network & P-to-P Rate ($/kW/Mo)
$2.95
$3.43
0.48
Hoosier became a TO in the AMIL pricing zone effective 7/1/18 and uses historical rate making and therefore won’t update the revenue requirement until 6/1/19. The current revenue requirement for Hoosier is shown above for both years.
PPI’s 2019 revenue requirement is not required to be posted until 10/1/18 so the current revenue requirement for PPI is shown above for both years.

18. Atxi 2019 Projected MVP SPEND
Ameren MVPs
Ameren Name
2019 CAPEX
MTEP #s
MTEP Description
Illinois Rivers
$44.6 million
2237
Pana - Mt. Zion - Kansas - Sugar Creek 345 kV line
3017
Palmyra-Quincy-Meredosia - Ipava & Meredosia-Pawnee 345 kV Line
Mark Twain
$166.5 million
2248
Adair - Ottumwa 345
3170
Adair-Palmyra 345 kV Line

19. ER18-2322 filing to remove double averaging
Filing made August 28, 2018
Filing addressed Commission June 21, 2018 order in Docket No. EL18-156
The term double averaging or two-step averaging methodology refers to the application of the IRS proration methodology together with an additional averaging step
Requested order by October 26th in order to implement for 2019 rates

20. Appendix - Miso web links
Transmission Pricing - Attachments O, GG & MM Information
Ameren OASIS
MTEP 18
Schedule 26 & 26-A Indicative Charges
Additional questions on these topics can be sent to Ameren at:

21. QUESTIONS?