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Westar Energy’s 2012 Annual Transmission Revenue Requirement Meeting

This document provides a quick review of Westar Energy's transmission projects and the results of the 2012 Annual Transmission Revenue Requirement (ATRR) meeting. It discusses the formula used for calculating the gross revenue requirement and the net revenue requirement, as well as the true-up adjustments. The results of the 2012 ATRR and what they mean for customers are also explained. Additionally, the document mentions the protocol review for previous years and provides information on future projects in the Southwest Power Pool.

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Westar Energy’s 2012 Annual Transmission Revenue Requirement Meeting

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  1. Westar Energy’s 2012Annual Transmission Revenue Requirement Meeting October 25, 2011

  2. Today • Status Report: Transmission Projects • Quick Review of the Past • The Results: 2012 ATRR • What Do These Results Mean to Our Customers? • Protocol Review

  3. 2007 2008 2009 2010 2011 2012 2013 2014

  4. Transmission Investment Millions $ Projected Projected Projected

  5. Future Projects in the Southwest Power Pool

  6. Quick Review: The Formula • Gross Revenue Requirement (GRR) includes: • Projected Transmission Plant • Projected Transmission O&M • Projected Transmission Depreciation Expense • Taxes • Return • Net Revenue Requirement adjusts the GRR for: • Revenue Credits received for Point-to-Point Transmission Service • “Rent” received (i.e. pole attachments) • True-Up for prior year’s difference between actual and projected, including interest

  7. Quick Review: The Past • 2009 was the first ATRR that included the forward-looking, revised formula • The first substantial true-up adjustment of -$17.8 M was applied in the 2011 ATRR, for 2009 business: • Actual O&M expenditures in 2009 were lower than projected • Actual revenue credits received for PTP service in 2009 were higher than projected • Therefore, the net ATRR increase from 2010 to 2011 was 12% (it would have been 25% without the -$17.8 M adjustment)

  8. The Results: ATRR for 2012 Westar’s Gross Rev. Requirement $203,102,936 Revenue Credits ($ 21,496,752) True-Up from 2010 $ 4,453,094 Westar’s Net Rev. Requirement $186,059,278 SPP’s BPF Rev. Requirement* ($ 38,125,719) Westar’s Zonal Rev. Requirement**$147,933,559 * Funds collected under Schedule 11 ** Resulting rates go into effect with January 1, 2012, business

  9. The Results: What Does this Mean to You? * Includes Westar’s respective Zonal ATRR plus the most recent information posted in Attachment H of SPP’s OATT; amounts in Attachment H vary throughout the year, depending on activities of other TOs in SPP

  10. Formula Protocols: Annual Update • Today: October 25, 2011 • Comments are accepted through November 30, 2011 • If necessary, revised ATRR will be posted on November 30, 2011 • Send comments or questions via e-mail to: • Sheila Gropp at sheila.gropp@westarenergy.com • Please cc: leslie.wines@westarenergy.com

  11. Summary • Thank you very much for participating in today’s meeting! • We are here to assist in any way possible. • Please let us know if you have any questions. • Safe travels home! • SAVE THE DATE FOR THE 2011 TRUE-UP MEETING: June 26, 2012

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