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2015 Attachment O True-Up Stakeholder Meeting Ameren Illinois Company

Join us for the AIC 2015 Transmission Rate True-Up Stakeholder Meeting on July 21, 2016, to review calculations, compare revenue requirements, and discuss ROE complaints.

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2015 Attachment O True-Up Stakeholder Meeting Ameren Illinois Company

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  1. 2015 Attachment O True-Up Stakeholder Meeting Ameren Illinois Company July 21, 2016

  2. Agenda Main Purpose is to review AIC 2015 Transmission Rate True-Up Calculations • Protocol Timeline • 2015 True Up Calculation • Total Revenue Requirement Comparison – Projected vs Actual • Attachment O/Schedule 9 True-up • Attachment GG Revenue Requirement and True-up • Attachment MM Revenue Requirement and True-up • 2015 MVP Spend • 2015 Significant Projects Placed In Service • ROE Complaint Cases An additional meeting will held to review the 2017 Projected Transmission Rate calculations. Tentatively set for September 29th.

  3. Protocol timeline

  4. AIC Revenue Requirement Comparison Projected 2015 vs Actual 2015

  5. Aic 2015 rate base

  6. Aic2015 expenses

  7. Aic2015 Capital strUcture

  8. Aic2015 total revenue requirement

  9. Aic2015 Net revenue requirement for Schedule 9 • .

  10. Aic2015 attachment o true up for Schedule 9

  11. Aic2015 attachment gg AIC Attachment GG Calculation - Page 1

  12. Aic2015 attachment gg AIC Attachment GG Calculation - Page 2

  13. Aic2015 attachment gg True-up for Schedule 26 AIC 2015 Attachment GG True Up

  14. Aic2015 attachment MM AIC Attachment MM Calculation - Page 1

  15. Aic2015 attachment MM AIC Attachment MM Calculation - Page 2

  16. Aic2015 attachment MM true-up for Schedule 26-A AIC 2015 Attachment MM True Up

  17. AIC 2015 MVP SPEND

  18. 2015 Significant transmission projects added to plant

  19. ROE complaints • Current ROE is 12.38% • MISO ROE Complaints • 1st Complaint (EL14-12) • Covers November 12, 2013 through Feb 11, 2015 • Received initial decision from administrative law judge on December 22, 2015 with a recommended Base ROE at 10.32% • Expect final FERC order in October 2016 • 2nd Complaint (EL15-45) • Covers February 12, 2015 through May 11, 2016 • Received initial decision on June 30, 2016 with a recommended Base ROE at 9.70% • Expect final FERC order in first half of 2017

  20. ROE complaints • FERC approved a 50 basis point adder for participation in an RTO • Effective January 6, 2015, but will not be used until after final orders in the ROE complaints are issued • Refunds will be required, but format is not yet determined • Will impact Schedules 7,8, 9, 26, 37, 38, 26A • Amounts could be either be • rolled into the future revenue requirements and reduce future rates • actual refunds to all customers requiring MISO to calculate adjustments for all months beginning with November 13

  21. QUESTIONS?

  22. Appendix Supplemental Background Information (Not covered during presentation)

  23. Appendix – AMIL Pricing Zone • Both AIC and ATXI are transmission owning subsidiaries of Ameren Corporation, as well as a MISO Transmission Owners (TOs) • AIC will continue to build and own traditional reliability projects • ATXI is in the process of building and will own new regional transmission projects • Prairie Power, Inc. became a TO in the AMIL pricing zone effective June 1, 2013. • The sum of all there Attachment O net revenue requirements equals the total revenue requirement for AMIL pricing zone to be collected under Schedule 9 (NITS)

  24. Appendix - MISO ATTACHMENTs O, GG & MM 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

  25. Appendix - 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) • AIC has four Attachment GG projects completed • Two additional projects under construction • These projects were approved by MISO under prior Tariff provisions which allowed limited cost sharing for certain reliability projects

  26. Appendix - MISO ATTACHMENT MM • Cost recovery for Multi-Value Projects (MVPs) • Very similar format as Attachment GG • Criteria for being considered • Developed through planning process and support energy policy • Multiple types of economic value across multiple pricing zones with benefit to costs > 1 • Address at least one: • Projected NERC violation • Economic-based issue • Cost shared across MISO based on load • AMIL Zone is approximately 10% • Ameren MVPs will primarily be built by ATXI • AIC will be responsible for modifications needed to its existing facilities

  27. Appendix - MISO ATTACHMENT O, GG & MM • All transmission costs included in Attachment O calculation • Schedule 9 based on net revenue requirement – reductions for: • Costs recovered in Schedules 26 & 26-A • Revenue Credits • Point-to-Point revenue in Schedules 7 & 8 • Rental revenue • Revenue from generator interconnections

  28. Appendix - 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

  29. MISO MVPS • Brief history of development • Began investigating value added expansion in 2003 • 2008 Regional Generation Outlet Study (RGOS) - formed basis of Candidate MVP portfolio • Portfolio refined due to additional analysis • MISO approved portfolio of 17 Projects • Seven transmission line segments (MTEP proj numbers)in Ameren territory • Ameren identifies these three projects as: • Illinois Rivers (four line segments) • Spoon River • Mark Twain (two line segments) • Broadly cost-shared, AMIL pricing zone allocated 10% of each MVP no matter where project is located or who builds it

  30. Appendix - MAP OF AMEREN MVPs

  31. Appendix - Rate incentives • FERC approved the following rate incentives for Illinois Rivers in Docket No. EL10-80 • CWIP (no AFUDC) • Abandonment (requires additional filing prior to recovery) • Hypothetical capital structure during construction for ATXI • FERC approved similar incentives for Spoon River and Mark Twain Projects in Docket No. ER12-2216

  32. Appendix - Miso web links • Transmission Pricing - Attachments O, GG & MM Information • https://www.misoenergy.org/MarketsOperations/TransmissionSettlements/Pages/TransmissionPricing.aspx • Ameren OASIS • http://www.oasis.oati.com/AMRN/index.html • MTEP 15 • https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEP15.aspx • MTEP 16 • https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEP16.aspx • Schedule 26 & 26-A Indicative Charges • https://www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEPStudies.aspx

  33. Appendix – AiC • Additional questions on these topics can be sent to Ameren at: • MISOFormulaRates@ameren.com

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