Annual Meeting Transmission Rate Update by Muscatine Power and Water
Discover how Muscatine Power and Water sets its transmission rates using the Attachment O formula, along with important timelines and historical information on Return on Equity (ROE). Stay informed about the process and deadlines for public stakeholder involvement.
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Presentation Transcript
Muscatine Power and Water Attachment O Annual Meeting Transmission Formula Rate Update August 27, 2024
Background Muscatine Power and Water (MPW) became a Transmission Owning member of MISO in September 2009 As a Transmission Owner (TO), MPW must annually establish rates for open access use of its transmission assets MPW utilizes MISO s standard (pro forma) Attachment O formula rate template to determine these rates MPW utilizes the Non-levelized Attachment O template, using on data from EIA 412 Based on 2023 Calendar Year audited financial statements EIA (Energy Information Administration) form 412 is a standard annual financial reporting form prepared by electric utilities and filed with EIA MPW is no longer required to file an EIA-412, but it is prepared to support Attachment O preparation 2
Purpose of Annual Meeting Allow for public/stakeholder comment related to MPW s 2024 Attachment O submittal 3
ROE History The base Return on Equity (ROE) has been adjusted over time based on FERC orders on the subject Below is the recent history ROEs used by MPW: Year ROE Rate 2021 10.52% 2022 10.52% 2023 10.52% 2024 10.52% In each of these years, MPW has been allowed a 0.50% adder for being an RTO member. This is included in the rates above. 4
Attachment O Timeline Due Date Due Date Item Item Comment Comment Jun 1, 2024 Publish Attachment O and supporting documentation based on 2023 Calendar Year actual data MPW published on 4/30/2024 to the MISO and OATI sites Sep 1, 2024 Hold Annual Meeting on annual formula rate update MPW meeting scheduled for 8/27/2024 Dec 1, 2024 Deadline for Interested Parties to submit information requests Deadline for TO to respond to information requests Jan 10, 2025 Jan 31, 2025 Deadline for Interested Parties to submit Informal Challenges Deadline for TO to respond to Informal Challenges Feb 28, 2025 Mar 15, 2025 Deadline to submit Informational Filing to FERC Mar 31, 2025 Deadline for Interested Parties to file Formal Challenge at the Commission MISO Attachment O Rate Data Webpage: https://www.misoenergy.org/markets-and-operations/settlements/to-rate-data/ 5
Historical Comparison Item Item 2023 2023 Attachment O Attachment O 2024 2024 Attachment O Attachment O Comments Comments % % 6.2% $25,084,924 $26,643,267 Rate Base Ongoing capital investments in Transmission plant and General plant $2,785,947 $2,882,018 3.4% O&M Depreciation $520,046 $1,082,202 108.1% Increase due primarily to Line 106 depreciation $115,527 $120,423 4.2% Other Taxes (FICA tax) $2,638,934 $2,802,872 6.2% Return Higher due to Rate Base increase $6,060,454 $6,887,515 13.6% Gross Revenue Requirement Revenue Credits Net Revenue Requirement $36,623 $42,932 17.2% $6,023,831 $6,844,583 13.6% Transmission Transmission Rate Rate 14.4% $3.977 $3.977 ($/kW ($/kW- -mo) $4.551 $4.551 ($/kW ($/kW- -mo) mo) mo) 6
Contact Information Ryan Streck Director, Utility Service Delivery Office: 563.262.3321 Email: rstreck@mpw.org MPW OATI OASIS Webpage http://www.oasis.oati.com/MPWM/ 7
