Page 1 of 5
Public Service Company of Colorado
Transmission Formula Rate Template
Twelve Months Ended December 31, 2014
Annual Transmission Revenue Requirements- Actual vs. Estimate
Line No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
RATE BASE & RETURN CALCULATION
Col. (1)
GROSS PLANT IN SERVICE
Production
Transmission
Distribution
General Plant
Intangible Plant
Common Intangible
Common General
TOTAL GROSS PLANT
Reference/Notes
Col. (2)
(Note A)
WP_B-1 Col. (d), Line 2
WP_B-1 Col. (d), Line 3
WP_B-1 Col. (d), Line 4
WP_B-1 Col. (d), Line 5
WP_B-1 Col. (d), Line 6
WP_B-1 Col. (d), Line 7
WP_B-1 Col. (d), Line 8
Sum Lines 2 through 8
Line 9, Col. (5) divided by Col. (3)
ACCUMULATED DEPRECIATION
Production
Transmission
Distribution
General Plant
Intangible Plant
Common Intangible
Common General
TOTAL ACCUMULATED DEPRECIATION
(Note A)
WP_B-1 Col. (d), Line 12
WP_B-1 Col. (d), Line 13
WP_B-1 Col. (d), Line 14
WP_B-1 Col. (d), Line 15
WP_B-1 Col. (d), Line 16
WP_B-1 Col. (d), Line 17
WP_B-1 Col. (d), Line 18
Sum Lines 13 through 19
NET ACQUISITION ADJUSTMENT
Production
Transmission Serving Production
Transmission Serving Transmission
TOTAL NET ACQUISITION ADJUSTMENT
(Note B)
WP_B-4 Col.(i) Line 15
WP_B-4 Col.(j) Line 15
WP_B-4 Col.(k) Line 15
Sum Lines 23 through 25
NET PLANT IN SERVICE
Production
Transmission
Distribution
General Plant
Intangible Plant
Common Intangible
Common General
TOTAL NET PLANT IN SERVICE
(Note A)
Line 2 minus 13 plus 23 plus 24
Line 3 minus 14 plus 25
Line 4 minus 15
Line 5 minus 16
Line 6 minus 17
Line 7 minus 18
Line 8 minus 19
Sum Lines 29 through 35
Line 36, Col (5) divided by Col (3)
OTHER RATE BASE ITEMS
Account No. 281
Account No. 282
Account No. 283
Account No. 190
Regulatory Liabilities- FERC Account No. 254 (Note C)
Account No. 255
Account No. 107 (CWIP) (Note E)
Net Pre-Funded AFUDC on CWIP included (Note E)
Unamortized Balance of Abandoned Incentive Plant (Note E)
Unamortized Balance of Extraordinary Property Loss (Note E)
TOTAL OTHER RATE BASE ITEMS
(Note C)
WP_B-2 Col. (c) & (e), Line 3
WP_B-2 Col. (c) & (e), Line 28
WP_B-2 Col. (c) & (e), Line 81
WP_B-3 Col. (c) & (e), Line 82
WP_B-7 Line 14
267.8.h
WP_B-8 Col. (a), Line 16
WP_B-8 Col. (d), Line 16
WP_B-Inputs Act. Line 142
WP_B-Inputs Act. Line 142
Sum Lines 40 through 49
LAND HELD FOR FUTURE USE (Note F)
WP_B-Inputs Act. Line 142
WORKING CAPITAL
Cash Working Capital
Materials & Supplies - Transmission
Materials & Supplies - Other
Prepayments (Account 165) Plant Related
Prepayments (Account 165) Labor Related
Prepayments (Account 165) Transmission Related
Prepayments (Account 165) Other Not Allocated
TOTAL WORKING CAPITAL
(Note G)
WP_B-6 Line 29
WP_B-6 Line 31
WP_B-5 Line 8
WP_B-5 Line 16
WP_B-5 Line 20
WP_B-5 Line 37
Sum Lines 55 through 61
RATE BASE
Line 36 plus 50 plus 52 plus 62
Rate of Return
Line 158
RETURN (Rate Base * Rate of Return)
Line 64 times Line 66
Total
Col. (3)
Allocator (Note O)
Col. (4)
4,578,133,054
1,741,930,805
4,043,932,469
150,292,373
37,361,875
183,892,550
353,308,444
11,088,851,570
(61,051,357)
1,623,194
211,489
(2,574,972)
(3,888,516)
(65,680,162)
0.00%
100%
0.00%
11.39%
11.39%
6.99%
6.99%
381,716,657
7,144,284
3,239,511
10,116,182
11,750,958
413,967,592
382,425,508
6,441,895
2,918,719
11,351,929
14,357,539
417,495,589
(708,852)
702,390
320,792
(1,235,747)
(2,606,581)
(3,527,998)
0.00%
0.00%
100.00%
4,970,457
4,970,457
4,970,459
4,970,459
(2)
(2)
1,365,184,605
9,972,514
1,015,633
2,734,485
12,938,726
1,391,845,964
1,425,527,112
9,051,710
1,124,936
4,073,710
14,220,662
1,453,998,129
(60,342,507)
920,804
(109,303)
(1,339,225)
(1,281,935)
(62,152,166)
GP=
16.24%
1,647,995,445
381,716,657
1,208,775,200
62,729,690
28,444,209
144,762,175
168,155,761
3,642,579,137
NA
DA
NA
W/S
W/S
CE
CE
191,756,756
9,461,460
4,970,457
206,188,673
NA
NA
DA
3,131,355,825
1,365,184,605
2,835,157,269
87,562,683
8,917,666
39,130,374
185,152,683
7,652,461,106
844,022
(1,579,694)
7,610,524
572,593
869,069
5,033,310
13,349,823
5,915,537,917
7.45%
440,707,575
Difference
Transmission
1,802,982,162
15,493,604
4,043,655
15,425,638
28,578,200
1,866,523,260
0.00%
100%
0.00%
11.39%
11.39%
6.99%
6.99%
-
Estimate
Transmission
1,741,930,805
17,116,798
4,255,144
12,850,667
24,689,684
1,800,843,098
NA
DA
NA
W/S
W/S
CE
CE
(76,835,962)
(2,045,561,101)
(176,779,173)
520,572,249
(1,158,111)
29,489,085
(1,750,273,012)
Actual
Transmission
Col. (5)
NP=
18.19%
DA
DA
DA
DA
W/S
DA
DA
DA
DA
DA
0.00%
11.39%
100.00%
100.00%
100.00%
100.00%
100.00%
TP
96.74%
TP
NP
NP
W/S
TP
NA
96.74%
18.19%
18.19%
11.39%
96.74%
0.00%
(383,690,294)
(3,638,399)
55,140,183
(131,897)
(332,320,406)
(381,646,848)
(6,694,941)
52,534,206
(216,758)
(336,024,341)
(2,043,446)
3,056,542
2,605,977
84,861
3,703,935
376,035
(300,256)
1,386,807
53,409
599,278
2,115,273
440,429
12,938
(2,588)
11,804
241,415
703,998
816,464
(287,318)
1,384,218
65,213
840,694
2,819,271
1,062,344,828
7.45%
79,144,690
1,120,089,061
7.50%
84,006,680
(57,744,233)
-0.05%
(4,861,990)
Ref
1
1
Page 2 of 5
Public Service Company of Colorado
Transmission Formula Rate Template
Twelve Months Ended December 31, 2014
Line No.
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
EXPENSE, TAXES & REVENUE
REQUIREMENTS CALCULATION
Col. (1)
Reference/Notes
Col. (2)
Total
Col. (3)
OPERATION & MAINTENANCE EXPENSE
Transmission
Less Total Account 561
Add Back Account 561.4
Add Back Account 561.5
Add Back Account 561.6
Add Back Account 561.7
Add Back Account 561.8
Less Total Account 565 (Note H)
Add Back Account 565.25- System Integration Costs
Transmission Subtotal
WP_C-1 Line 31
WP_C-1 Line 36
WP_C-1 Line 5
WP_C-1 Line 6
WP_C-1 Line 7
WP_C-1 Line 8
WP_C-1 Line 9
WP_C-1 Line 13
WP_C-1 Line 34
Sum Lines 70 through 78
58,060,942
(8,060,634)
409,775
111,022
(49,688)
2,884,239
(15,683,269)
283,085
37,955,473
Administrative and General (Note I)
Less: Acc. 924, Property Insurance
Balance of A & G
Plus: Account 924, Property Insurance
Account 928 - Transmission Specific
A & G Subtotal
WP_C-2 Line 15
WP_C-2 Line 5
Sum Lines 81 through 82
Line 82
WP_C-4 Line 15
Sum Lines 81 through 85
148,453,424
(5,463,943)
142,989,481
5,463,943
865,589
149,319,013
TOTAL O & M EXPENSE
Line 79 plus Line 86
187,274,486
DEPRECIATION AND AMORTIZATION EXPENSE
Transmission
Plus: Pre-Funded AFUDC Amortization (Note E)
Plus: Recovery of Abandoned Incentive Plant (Note E)
Plus: Recovery of Extraordinary Property Loss (Note E)
General
Intangible
Common Intangible
Common General
Acquisition Adjustment Amortization (Note F)
TOTAL DEPRECIATION AND AMORTIZATION
WP_B-1 Line 24 Col. (d)
WP_B-8 Col (f), Line 16
WP_B-Inputs Act. Line 142
WP_B-Inputs Act. Line 142
WP_B-1 Line 26 Col. (d)
WP_B-1 Line 27 Col. (d)
WP_B-1 Line 28 Col. (d)
WP_B-1 Line 29 Col. (d)
WP_B-4 Line 15 Col. Col. (o)
Sum Lines 92 through 100
TAXES OTHER THAN INCOME
Labor Related
Plant Related
Miscellaneous
TOTAL OTHER TAXES
(Note J)
WP_D-1 Line 5
WP_D-1 Line 9
WP_D-1 Line 12
Sum Lines 104 through 106
INCOME TAXES
T=1 - {[(1 - SIT) * (1 - FIT)] / (1 - SIT * FIT * p)} =
CIT=(T/1-T) * (1-(WCLTD/R)) =
where WCLTD=(line 153) and R= (line 156)
and FIT, SIT & p are as given in Note K.
1 / (1 - T) = (from ln 110)
Amortized Investment Tax Credit (enter negative)
FF1 266.8.f
Income Tax Calculation
ITC adjustment
TOTAL INCOME TAXES
Line 68 times Line 111
Line 114 times Line 115
Sum Lines 117 through 118
REVENUE CREDITS
Account No. 454 (Rent from Transmission Facilities)
Account No. 421.1 (Gain From Disposition of Utility Plant)
Account No. 456.1 (Revenue from Trans. of Elect. of Others)
Account No. 456.1 (Revenue from Trans. of Elect. of Others)
Settlement Credit
Total Revenue Credits
(Note L)
WP_E-1 Line 4
WP_E-1 Line 9
WP_F-1 Line 39 Col. (b)
WP_F-1 Line 39 Col. (c)
Note P
REVENUE REQUIREMENT
(Note K)
Allocator (Note O)
Col. (4)
Total
Transmission
Col. (5)
TP
96.74%
36,716,226
33,359,501
3,356,725
W/S
NP
DA
11.39%
18.19%
100.00%
16,285,072
993,794
865,589
18,144,455
15,284,378
1,169,167
264,667
16,718,212
1,000,694
(175,374)
600,922
1,426,243
54,860,681
50,077,713
4,782,968
28,433,219
5,264,759
2,305,724
10,995,345
17,015,386
96,515
64,110,948
DA
DA
DA
DA
W/S
W/S
CE
CE
DA
100.00%
100.00%
100.00%
100.00%
11.39%
11.39%
6.99%
6.99%
100.00%
28,433,219
599,603
262,599
768,370
1,189,059
96,515
31,349,365
29,634,989
1,049,636
272,430
1,485,090
1,983,152
96,504
34,521,801
(1,201,771)
(450,033)
(9,831)
(716,720)
(794,093)
11
(3,172,436)
13,135,344
120,368,370
133,503,714
W/S
NP
NA
11.39%
18.19%
0.00%
1,495,984
21,892,856
23,388,840
1,326,755
24,611,865
25,938,619
169,230
(2,719,009)
(2,549,779)
NP
18.19%
33,406,974
(840,219)
32,566,755
37,634,992
(905,275)
36,729,717
(4,228,018)
65,055
(4,162,963)
DA
WS
DA
DA
DA
100%
11.39%
100%
100%
100%
2,020,968
198,403
2,641,382
267,905
726,905
5,855,563
2,012,834
236,463
2,716,261
224,400
726,905
5,916,863
8,135
(38,061)
(74,879)
43,505
(61,300)
215,454,768
225,357,667
(9,902,899)
36.46%
42.21%
1.5738
(2,935,304)
186,022,667
(4,619,581)
181,403,086
2,020,968
1,742,058
2,641,382
267,905
726,905
6,672,313
1,000,327,496
Page 3 of 5
Public Service Company of Colorado
Transmission Formula Rate Template
Twelve Months Ended December 31, 2014
Line No.
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
SUPPORTING CALCULATIONS
Col. (1)
Reference/Notes
Col. (2)
Total
Col. (3)
TRANSMISSION PLANT INCLUDED IN THE ATRR
Transmission plant
Transmission related Acquisition Adjustment
Total Transmission Plant
Eliminate Generator Step-up facilities
Transmission plant included in OATT Trans Rate
Percent of Transmission Plant in the ATRR
(Note M)
WP_B-1 Col (a), Line 3
WP_B-4 Col. (c), Line 15
Sum Lines 131 through 132
WP_B-Inputs Act. Line 117
Sum Lines 133 through 134
Line 136 divided by Line 134
WAGES & SALARY ALLOCATOR (W/S)
Production
Transmission
Regional Market
Distribution
Other
Total
FF1. 354.20.b
WP_C-1 Line 31 Col. (b)
FF1. 354.22.b
FF1. 354.23.b
FF1. 354.24.b
Sum Lines 140 through 144
W/S Allocator
Line 145, Col. Col. (5) divided by Col. Col. (3)
Common to Electric Transmission Allocator
FF1.356
W/S Allocator, Line 147
Line 149 times Line 150
RETURN
Long Term Debt
Preferred Stock
Common Stock
Total
(Note N)
WP_G-1 Line 6
WP_G-1 Line 8
WP_G-1 Line 14
Sum Lines 155 through 157
PREPAYMENTS ALLOCATION FACTOR TO ELECTRIC
Allocator (Note O)
Col. (4)
TP=
72,449,426
16,997,475
220,146
40,675,202
14,025,736
144,367,985
$
3,744,884,615
4,837,460,505
8,582,345,120
NA
TP
NA
NA
NA
%
43.63%
0.00%
56.37%
0.00%
96.74%
0.00%
0.00%
0.00%
Total
Transmission
Col. (5)
1,800,895,063
5,308,257
1,806,203,320
(58,964,258)
1,747,239,062
96.74%
16,442,508
16,442,508
W/S=
11.39%
CE=
71.98%
9.71%
6.99%
Cost
4.51%
0.00%
9.72%
ROR=
Weighted
0.0197
0.0000
0.0548
0.0745
2014 FERC Form No. 1
Total Electric Plant in Service
Common PIS Allocated to Electric
Electric Plant Held for Future Use
Electric Construction Work in Progress
Common CWIP Allocated to Electric
Total Electric Plant
Total Utility Plant
207, Ln.100, Col. (g)
356
214, Ln. 47, Col. (d)
216, Ln. 43, Col. (b)
356
Sum Lines 163 through 167
110, Ln. 4, Col. (c), plus Ln. 16, Col. (c)
Electric Plant to Total Plant Allocation Factor
Line 168 divided by Line 169
11,069,962,451
491,472,495
32,130,829
736,029,405
27,734,022
12,357,329,202
16,081,255,275
76.84%
Explanations:
1
The primary drivers in the Transmission Plant Balance were changes in the scheduled and actual in-service dates of several projects, including Poncha Junction 115/230 kV Line and Malta 230/115 kV Transformer
Page 4 of 5
Public Service Company of Colorado
Transmission Formula Rate Template
Twelve Months Ended December 31, 2014
Section 4.a.(vi) - Variance Analysis
Line No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
Description
OPERATION
Supervision and Engineering
Load Dispatching - Reliability
Load Dispatching - Monitor & Operate Transmission System
Load Dispatching - Transmission Service & Scheduling
Scheduling, System Control & Dispatch Services
Reliability, Planning and Standards Development
Transmission Service Studies
Generation Interconnection Studies
Reliability, Planning & Standards Development Services
Station Expenses
Overhead Line Expenses
Underground Lines Expense
Transmission of Electricity by Others
Miscellaneous Transmission Expenses
Rents
Total Operation
MAINTENANCE
Supervision and Engineering
Structures
Computer Hardware
Computer Software
Communication Equipment
Miscellaneous Regional Transmission Plant
Station Equipment
Overhead Lines
Underground Lines
Miscellaneous Transmission Plant
Total Maintenance
FERC
Labor
Non-Labor
2014 Actuals
Total Electric
2014 Estimated
Total Electric
560
561.1
561.2
561.3
561.4
561.5
561.6
561.7
561.8
562
563
564
565
566
567
4,485,252
4,300
3,395,369
77,710
408,543
46,355
113,364
30,397
958,953
1,161,314
2,295,360
5,685
12,982,601
2,335,708
3,917
1,223,990
1,232
64,668
(163,052)
2,853,842
345,218
1,126,139
269
15,683,269
1,529,226
2,185,586
27,190,011
6,820,960
8,217
4,619,359
77,710
409,775
111,022
(49,688)
2,884,239
1,304,171
2,287,453
269
15,683,269
3,824,586
2,191,271
40,172,612
8,638,229
54,555
2,357,273
801,244
659,887
115,919
112,284
2,310,571
985,547
2,140,305
17,672,602
2,896,293
2,339,733
41,084,442
568
569
569.1
569.2
569.3
569.4
570
571
572
573
67,053
3,540,530
379,595
21,203
6,494
4,014,875
81
2,192,882
11,246,249
403,148
31,095
13,873,455
67,134
5,733,412
11,625,844
424,351
37,589
17,888,330
56,214
5,265,899
8,918,288
14,240,401
$ Change
Explain
% Change (Increases) (a)
(1,817,269) -21.04%
(46,338) -84.94%
2,262,086
95.96%
(723,534) -90.30%
0.00%
(250,112) -37.90%
(4,897)
-4.22%
(161,971) -144.25%
573,667
24.83%
318,624
32.33%
147,148
6.88%
269
0.00%
(1,989,334) -11.26%
928,293
32.05%
(148,463)
-6.35%
10,921
467,513
2,707,555
424,351
37,589
19.43%
0.00%
0.00%
0.00%
0.00%
0.00%
8.88%
30.36%
0.00%
0.00%
Explain
(Decreases)
(a)
NO
NO
YES
NO
NO
NO
NO
NO
YES
NO
NO
NO
NO
YES
NO
YES
NO
NO
YES
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
YES
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
TOTAL TRANSMISSION
Note (a): Per the Implementation Procedures Section 4.a.(vi) Variance Analysis- explanations are needed when an "expense or revenue component, when trued-up is both 5% and $500,000 above or below the projected value."
Explanations:
1
The Control Center labor was shifted to FERC 561.2 to more accurately align with work performed.
2
Monitoring and Operating costs increased primarily due to shifting Control Center labor and expenses to better align with the work performed. This shift was offset in FERC accounts 560 & 561.3.
3
The Control Center labor was shifted to FERC 561.2 to more accurately align with work performed.
4
The annual FERC fees were previously being paid from FERC 928, but were changed to be paid from FERC 561.8 to better align the expense with the cost.
Small tool resplenishment $220K; FERC Order 1000 related regional planning engagement increased $250K; Various expenses related to cancelled capital projects
5
Increase driven by Mountain Pine Beetle contractor costs for outside the epedimic area.
6
Ref
1
2
3
4
5
6
Page 5 of 5
Public Service Company of Colorado
Transmission Formula Rate Template
Twelve Months Ended December 31, 2014
Section 4.a.(vi) - Variance Analysis
Administrative and General Expenses
Line No.
FERC
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
920
921
922
923
924
925
926
927
928
929
930.1
930.2
931
935
Account Description
Administrative and general salaries
Office supplies and expenses
Administrative expenses transferred— Credit
Outside services employed
Property insurance
Injuries and damages
Employee pensions and benefits
Franchise requirements
Regulatory commission expenses
Duplicate charges—Credit
General Advertising Expenses
Miscellaneous general expenses
Rents
Maintenance of general plant
Subtotal
2014 Actuals Total
Electric
$
2014 Estimated Total
Electric
40,627,391
29,566,206
(32,762,628)
13,205,526
5,463,943
9,057,647
57,123,554
8,587,106
(2,496,279)
5,120,948
7,131,341
21,520,579
869,010
163,014,344 $
39,845,173
30,044,190
(35,941,447)
17,517,482
6,164,622
9,157,157
68,000,930
7,407,374
(2,331,440)
3,766,345
8,024,473
23,813,091
486,797
175,954,747 $
$ Change
782,218
(477,984)
3,178,819
(4,311,956)
(700,679)
(99,510)
(10,877,376)
1,179,732
(164,839)
1,354,603
(893,132)
(2,292,512)
382,213
(12,940,403)
% Change
1.96%
-1.59%
-8.84%
-24.62%
-11.37%
-1.09%
-16.00%
0.00%
15.93%
7.07%
35.97%
-11.13%
-9.63%
78.52%
-7.35%
Explain
(Increases)
(a)
Explain
(Decreases)
(a)
NO
NO
NO
NO
NO
NO
NO
NO
NO
NO
YES
NO
NO
NO
NO
NO
NO
YES
YES
NO
YES
NO
NO
NO
NO
YES
YES
NO
Ref
1
2
3
4
5
6
Note (a): Per the Implementation Procedures Section 4.a.(vi) Variance Analysis- explanations are need when an "expense or revenue component, when trued-up is both 5%
and $500,000 above or below the projected value."
Explanations:
1 2014 actuals had Lower Regulatory consulting legal costs than the estimate mainly due to the Boulder Municipalization proceedings
2 The main component in the property insurance reduction is the improvement in loss experience, with PSCo for jointly owned assets
3 Lower retiree medical costs overall mainly due to higher savings from PSCo bargaining contract change than budgeted and to favorable asset returns and demographic
4 Increase in actual compared to budgeted costs in the PSCo Solar Advertising Campaign and PR Firm costs
5 The primary driver for the reduction in miscellaneous general expenses from forecasted amounts to actual was the Craig shared partnership costs were lower than budgeted
6 Business Systems Shared asset shifts between Operating Companies, some application double counted/funded