BHP 2016 Formula Rate True-Up Meeting June 19, 2017 Agenda Introductions CUS Transmission System Overview Black Hills Powers Formula Rate Protocols Discuss the 2016 Annual True-Up
Where to Find Information and be Engaged Questions & Comments 2 CUS Transmission System The Common Use System (CUS) is a joint transmission system owned by Basin Electric Power Cooperative, Black Hills Power, Inc. and Powder River Energy Corporation. The CUS has filed with the FERC a joint open-access transmission tariff that provides transmission service over these combined assets that consist of 230 kV and limited 69 kV transmission facilities within areas of Southwestern South Dakota and Northeastern Wyoming. The CUS is made up of approximately 980 circuit miles 3
Common Use System 10-Year Transmission Plan 4 Where We Are in the West BHBE / Common Use System CCPGColorado Coordinated Planning Group SSPGSierra Subregional Planning Group SWATSouthwest Area Transmission 5 Formula Rate Protocols In July 2014, the Federal Energy Regulatory Commission (FERC) requested that Black Hills update its formula rate protocols The updates were needed to: Provide clarification on who can
participate in the information exchange Increase transparency Create challenge procedures Black Hills Revised its tariff and the new formula rate protocols went into effect January 1, 2015 6 Summary of Key Drivers Revenue Requirement Decrease in total revenue requirement of ($1,082,369) Drivers of decrease :
Delay in-service of Teckla-Osage 230kV Line Delay in-service of Osage-Lange 230kV line Change in Accounting for payroll taxes O&M Increase drivers 01/31/2020 Misc. Maintenances for 230KV Other Misc. Maintenances for System Control 7 2016 Revenue Black Hills Power Attachment H 1 Average Transmission Rate Base
Actual vs. Estimated 2016 Actual $ 61,890,154 2016 Estimated $ 71,333,803 2 Weighted Rate of Return 3 Return on Average Rate Base 8.76% 5,422,860 8.76% 6,247,057 (824,197) 4 Operating Expenses 5 Operations & Maintenance 6 Depreciation
7 Taxes Other Than Income 8 Total Operating Expenses 3,944,436 2,843,478 669,895 7,457,810 3,476,878 3,073,274 848,643 7,398,795 467,558 (229,796) (178,748) 59,015 9 Income Taxes 2,051,516
Component Annual Revenue Requirements 11 Black Hills 12 Basin Electric 13 PRECorp 14 Total Annual Revenue Requirements 15 Revenue Credits 16 Net Annual Revenue Requirements 17 Network Load 18 Rate ($/kW-Yr) 14,928,034 $ 32,003,760 $ 855,667 37.40
$ True-up 8 How to be Engaged We invite our transmission customers to sign up to receive notices related to the Projected Net Revenue Requirement and Annual True-Up. A notification will be sent by email whenever there is an update. These notifications are also posted on our OASIS site. https://www.oasis.oati.com/BHBE/index.html To sign up for the notices go to our website www.blackhillsenergy.com. In the list on the left click on In Your Neighborhood. Next click on Transmission & Distribution then Transmission Rates. Under More Information click on the link Sign up for notices. Key in your email address and click Subscribe. If you have any questions please contact us on our transmission line at 605-721-2220 or email
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