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August 16, 2019

Missouri River Energy Services and Member Attachment O Customer Meeting. August 16, 2019. John Weber, Senior Transmission Engineer. Agenda. Meeting Purpose MRES Profile MRES, MMU & WMU True-up for 2018 MRES member historical rate information Question/Answer. Meeting Purpose.

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August 16, 2019

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  1. Missouri River Energy Services and Member Attachment OCustomer Meeting August 16, 2019 John Weber, SeniorTransmission Engineer

  2. Agenda • Meeting Purpose • MRES Profile • MRES, MMU & WMU True-up for 2018 • MRES member historical rate information • Question/Answer

  3. Meeting Purpose • MRES background • Regulatory Changes / Timelines • MRES, MMU & WMU specific rate information • MRES true-up info on Attachment O/GG/MM from 2018. • MMU true-up info on Attachment O from 2018. • WMU true-up info on Attachment O from 2018. • WMU was already a TO in MISO, but is under MRES as of 6/1/19. • True-up from 2018 along with forecast for 2020 will be incorporated into rates to be effective on January 1, 2020. • MRES member rate information • ALP Utilities (ALP), Benson Municipal Utilities (BMU), Breckenridge Public Utilities (BPU)*, Detroit Lakes Public Utilities (DLPU), Hutchinson Utilities Commission (HUC), and Worthington Public Utilities (WPU). *BPU’s facilities will be added to MISO as of 10/1/19, pending FERC acceptance in ER19-2516

  4. 61 Members served • Transmission: ~362 miles • Generation: ~740 MW • Renewable: ~86 MW MRES MISO &SPPMembers,Generationand Transmission Rugby Win Project Fort PeckDam d ITA GarrisonDam Canyon Ferry Dam Big HornRiver YellowtailDam Marshall WindProject Pierre Solar Project Watertown PowerPlant Irv Simmons OaheDam PointBeach NuclearPlant Big BendDam Odin WindProject Gavin’s Point Dam Fort RandallDam Worthington WindProject Laramie RiverStation MBPP ExiraStation Red Rock Hydroelectric Plant MRES Member in MISOMarket MRES Member in SPPMarket MRES GenerationResource MRES Generation Resource UnderConstruction Federal HydroelectricDam CapX 2020 TransmissionRoutes

  5. MRES FERC Background • Transmission facilities are owned by Western Minnesota Municipal Power Agency (WMMPA) • FERC Declaratory Order (EL08-22, 12/08) combines financial statements for ATRR • Attachment O effective 6/1/11 • Incentive filing (EL11-45, 6/11) • CapX; Fargo P2 & P3, and Brookings • CWIP, Abandon Plant, Hypothetical cap structure • 205 filing (ER12-351, 11/11) • FERC Approved ER12-351, and EL 11-45 on January 20, 2012 • MRES filed for direct assignment of property taxes in ER17-1515, which was accepted 7/25/17.

  6. Regulatory / FERC Issues, Procedures and Timing cont. • By June 1st • Post actual calculations and true-ups based on prior year’s Rate Information • By September 1st • Meet with Interested Parties to discuss the actual prior year’s Rate information • By October 1st • Post FLTY info for MRES, MMU & WMU • By October 31st • Meet with Interested Parties to discuss the FLTY Rate information • December 1st • Deadline for information requests • By January 10th • Must respond to information requests • January 31st • Deadline for informal challenges • March 15th • Annual Informational filing • April 15th • Deadline for formal challenges

  7. MRES 2018 True-Up Adjustment Overview Actual Projected Difference Net Revenue Requirement $5,004,298$5,239,823$235,525 (a) Divisor True-Up Divisor (kW)705,408674,86630,542 Projected Rate ($/kW/Yr) $7.7642 True-Up (Divisor Difference x Projected Rate) $237,136 (b) Interest ((a + b) * interest rate) $44,967(c) Total 2018 True-Up Adjustment (Under Recovery) $517,628 (a+b+c)

  8. 2018 MRES Annual TransmissionRevenue Requirement Distribution

  9. MRES member Attachment O Information • MRES is MISO TO on behalf of 8 MRES members • MRES is contact for any initial questions • Standard MISO templates for 6, and FLTY for 2 • OTP Zone • ALP – Prior Year • BMU – 1 Year Lag • BPU – 1 Year Lag • DLPU– 1 Year Lag • GRE Zone • HUC – 1 Year Lag • WMU - FLTY • ITC-M Zone - WPU– 1 Year Lag • NSP Zone – MMU - FLTY

  10. MMU 2018 True-Up Adjustment Overview Actual Projected Difference Net Revenue Requirement $1,995,598 $2,100,897 $ 105,299 (a) Divisor True-Up Divisor 77,358 78,183 825 Projected Rate ($/kW/Yr) $26.8715 True-Up (Divisor Difference x Projected Rate) $22,169 (b) Interest ((a + b) * interest rate)$8,371 (c) Total 2018 True-Up Adjustment (Under Recovery) $91,501 (a+b+c)

  11. WMU 2018 True-Up Adjustment Overview Actual Projected Difference Net Revenue Requirement $1,546,304 $1,589,849 $43,545 (a) Divisor True-Up Divisor 38,750 37,320 1,430 Projected Rate ($/kW/Yr) $42.6005 True-Up (Divisor Difference x Projected Rate) $60,919 (b) Interest ((a + b) * interest rate)$10,519(c) Total 2018 True-Up Adjustment (Under Recovery) $114,983 (a+b+c)

  12. Revenue Requirements for 2019 Historical Revenue Requirements for 2019 FLTY

  13. Questions If you have any questions after the meeting, please submit via e-mail to John Weber: jweber@mrenergy.com All questions and answers will be posted on the MRES OASIS website along with any follow-up questions received within two weeks from the date of inquiry on the OASIS site. (http://www.oasis.oati.com/MRET/index.html)

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