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MISO Attachment O Annual Rate Update for SMEPA

MISO Attachment O Annual Rate Update for SMEPA. August 28, 2014. Outline. Introductions Legal Disclosure Meeting Purpose SMEPA Profile Attachment O Update Process SMEPA Attachment O Annual Transmission Revenue Requirement 2013 vs. 2014 Questions. Legal Disclosure.

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MISO Attachment O Annual Rate Update for SMEPA

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  1. MISO Attachment O Annual Rate UpdateforSMEPA August 28, 2014

  2. Outline • Introductions • Legal Disclosure • Meeting Purpose • SMEPA Profile • Attachment O Update Process • SMEPA Attachment O Annual Transmission Revenue Requirement • 2013 vs. 2014 • Questions

  3. Legal Disclosure • All figures in this document are subject to change as a result of this rate update meeting and MISO protocol process • Figures will be finalized by March 15, 2015 per the MISO protocols

  4. Introductions • South Mississippi Electric Power Association presenters • Gary Hutson, Director of Operations and Planning • Bobby Vinson, Controller • MCR Performance Solutions • Ron Kennedy, Director

  5. Meeting Purpose • Explain and provide a forum for question and answers regarding the 2014 SMEPA Attachment O • The MISO Attachment O protocols that comply with March 20, 2014 Federal Energy Regulatory Commission’s order (FERC Docket ER12-2379) requires SMEPA to hold a rate update meeting by September 1 each year to explain and provide a forum for question and answers regarding the SMEPA Attachment O presented today. • SMEPA’s Annual Transmission Revenue Requirement (“ATRR”) that went into MISO rates on June 1, 2014 is calculated using the SMEPA Attachment O template within the MISO tariff based on SMEPA’s actual 2013 audited financial dataand load.

  6. SMEPA Profile • South Mississippi Electric Power Association (“SMEPA”) is a member-owned, not-for-profit electric generation and transmission cooperative that supplies wholesale electricity and other services to its 11 member distribution cooperatives • Our member distribution cooperatives provide electric service to consumers in 55 our of Mississippi’s 82 counties through approximately 415,000 meters • SMEPA’s headquarters is located in Hattiesburg. • 1,742 miles of transmission lines • The generating fleet of South Mississippi Electric includes a coal-fired plant and a 10% undivided interest in the Grand Gulf Nuclear Station. Gas-fired generation facilities, utilized to meet intermediate and peak demand, include steam turbine units, combined cycle units and combustion-turbine units. • Company figures: • Overall Net Assets as of December 31, 2013 = $1.4 billion • Total 2013 Operating Revenues = $802 million • Employees: 404 SMEPA delivers wholesale power to its Member-Owner Cooperatives in three distinct transmission areas: SMEPA transmission area (MISO Pricing Zone 33) Entergy Mississippi transmission area (MISO Pricing Zone 30) Mississippi Power transmission area (Outside of MISO)

  7. SMEPA Attachment O Update Process • SMEPA submits its annual Attachment O update to MISO by April 30 each year • The annual update is based on the actual audited financial data and load from the previous year • After MISO reviews the annual updated Attachment O, SMEPA’s ATRR goes into MISO rates on June 1 each year • SMEPA holds an annual rate update meeting by September 1 each year

  8. In accordance with the MISO tariff, SMEPA’s ATRR is allocated to MISO pricing zones based on the location of SMEPA’s gross transmission plant. • Per Schedules 7,8, & 9 of the MISO Tariff, each Transmission Owner's total net annual transmission revenue requirement is allocated proportionately to each pricing zone in which the Transmission Owner owns transmission facilities based on the gross plant value of its transmission facilities located in that pricing zone relative to the gross plant value of its transmission facilities in all pricing zones, as reflected in Attachment O • SMEPA’s 2014 ATRR is allocated by the following: • 88.93% is allocated to the SMEPA pricing zone • 11.07% is allocated to the Entergy Mississippi (“EMI”) pricing zone SMEPA 2014 Net ATRR 88.93% to SMEPA Pricing Zone #33 11.07% to the EMI Pricing Zone #30

  9. SMEPA Attachment O Rate Base: 2013 vs 2014

  10. SMEPA Attachment O Recoverable Expenses: 2013 vs 2014

  11. SMEPA Attachment O Revenue Requirement: 2013 vs 2014

  12. SMEPA and EMI Pricing Zone Rates: 2013 vs 2014

  13. Questions Additional questions may be submitted in writing to Gary Hutson ghutson@smepa.coop or Bobby Vinson bvinson@smepa.coop All questions and answers will be distributed by e-mail to the attendee with the inquiry as well as other meeting attendees. In addition, the questions and answers will be posted on the SMEPA OASIS website within 15 days from the inquiry date.

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