2015 Projected Attachment O Stakeholder MeetingAmeren Transmission Company of Illinois (ATXI) and Ameren Illinois Company (AIC)

October 1, 2014

2

AGENDA

Main Purpose is to review ATXI and AIC 2015 Projected Transmission Rate Calculations

• Timeline• ATXI 2015 Projection• AIC 2015 Projection• 2015 AMIL Pricing Zone NITS Charge

3

NEW PROTOCOL TIMELINE

DateProposed Schedule(Forward-Looking)

June 1 Posting of annual true-up for prior year

September 1 Deadline for annual true-up meeting

September 1 Posting of net projected revenue requirement for following year

October 15 Deadline for annual projected rate meeting

November 1 Deadline for joint meeting on regional cost-shared projects

March 15 Transmission Owners submit informational filing to the Commission

4

ATXI Revenue Requirement

Projected 2014 vs Projected 2015

5

ATXI 2015 PROJECTION

ATXI Rate Base

Page.Line Jan-14 Jan-15 Change Percent2.6 Total Gross Plant 72,401,000 80,778,000 8,377,000 12%

2.12 Total Accum Depreciation 3,701,000 4,717,000 1,016,000 27%2.18 TOTAL NET PLANT 68,700,000 76,061,000 7,361,000 11%

2.18a 100% CWIP RECOVERY 166,179,000 471,564,000 305,385,000 184%

ADJUSTMENTS TO RATE BASE 2.20 Account No. 282 -15,292,000 -12,824,000 2,468,000 -16%2.21 Account No. 283 -1,009,000 -2,720,000 -1,711,000 170%2.22 Account No. 190 2,877,000 2,470,000 -407,000 -14%2.25 Land Held for Future Use 0 0 0 N/A2.26 CWC 395,500 866,625 471,125 119%2.27 Materials & Supplies 0 0 0 N/A2.28 Prepayments 0 190,000 190,000 N/A

TOTAL ADJUSTMENTS -13,028,500 -12,017,375 1,011,125 -8%

2.30 TOTAL RATE BASE 221,850,500 535,607,625 313,757,125 141%

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ATXI 2015 PROJECTION

ATXI ExpensesPage.Line Jan-14 Jan-15 Change Percent

O&M3.1 Transmission 184,000 367,000 183,000 99%3.1a Less LSE Expenses 0 0 0 N/A3.2 Less Account 565 0 0 0 N/A3.3 A&G 2,980,000 6,566,000 3,586,000 120%3.4 Less FERC Annual Fees 0 0 0 N/A3.5 Less EPRI, ect. 68,720 50,000 -18,720 -27%3.5a Plus Trans. Reg. Comm. Exp 68,720 50,000 -18,720 -27%3.8 TOTAL O&M 3,164,000 6,933,000 3,769,000 119%

3.12 TOTAL DEPRECIATION 1,064,000 1,132,000 68,000 6%

TAXES 0 N/A3.13 Payroll 0 0 0 N/A3.16 Property 0 0 0 N/A3.18 Other 82,000 155,000 73,000 89%3.27 Income Taxes 10,819,901 24,806,313 13,986,412 129%

TOTAL TAXES 10,901,901 24,961,313 14,059,412 129%

TOTAL EXPENSES 15,129,901 33,026,313 17,896,412 118%

7

ATXI 2015 PROJECTION

ATXI Actual Capital StructureCapital Structure - 2014 Projection

Page.Line $ % Cost Weighted4.27 Long Term Debt 91,077,000 43% 0.0386 0.01654.28 Preferred Stock 0 0% 0.0000 0.00004.29 Common Stock 121,344,000 57% 0.1238 0.07074.3 Total 212,421,000 100% 0.0873

Capital Structure - 2015 Projection

Page.Line $ % Cost Weighted4.27 Long Term Debt 192,308,000 44% 0.0427 0.01874.28 Preferred Stock 0 0% 0.0000 0.00004.29 Common Stock 247,121,000 56% 0.1238 0.06964.3 Total 439,429,000 100% 0.0883

Change in Return 0.1060%

8

ATXI 2015 PROJECTION

Total ATXI Revenue Requirement

Page.Line Jan-14 Jan-15 Change Percent2.30 TOTAL RATE BASE 221,850,500 535,607,625 313,757,125 141%4.30 Rate of Return on ACS 8.73% 8.83% 0.11% 1%3.28 Return from ACS 19,359,229 47,306,341 27,947,112 144%

2.30a 100% CWIP RECOVERY 166,179,000 471,564,000 305,385,000 184%4.30e Incremental Rate of Return on HCS -0.10% -0.02% 0.08% -80%3.28a Incremental Return from HCS -159,215 -90,541 68,674 -43%

Total Return 19,200,014 47,215,800 28,015,786 146%Total Expenses 15,129,901 33,026,313 17,896,412 118%

3.29 TOTAL GROSS REV. REQ. 34,329,914 80,242,113 45,912,199 134%

3.30 Less ATT. GG Adjustment 0 0 0 N/A3.30a Less ATT. MM Adjustment 25,755,419 71,386,314 45,630,896 177%3.31 GROSS REV. REQ. UNDER ATT. O 8,574,496 8,855,799 281,303 3%

9

ATXI 2015 PROJECTION

ATXI True-up & Net Revenue Requirement

Page.Line Jan-14 Jan-15 Change Percent1.1 Gross Revenue Requirement 8,574,496 8,855,799 281,303 3%1.6 Total Revenue Credits 502,000 423,000 -79,000 -16%

1.6a Historic Year Actual ATRR 9,892,717 8,860,739 (1,031,979) -10%1.6b Projected ATRR from Prior Year 7,270,263 7,406,002 135,740 2%1.6c Prior Year ATRR True-Up 2,622,454 1,454,736 (1,167,718) -45%1.6d Prior Year Divisor True-Up 30,874 (45,647) (76,521) -248%1.6e Interest on Prior Year True-Up 35,470 9,706 (25,764) -73%

1.7 NET REVENUE REQUIREMENT 10,761,294 9,851,594 -909,701 -8%

10

ATXI 2013 TRUE UP – ATTACHMENT O

Ameren Transmission Company of Illinois2013 Attachment O Revenue Requirement True-Up

For the Year Ended 12/31/2013

Attachment ONet Actual Revenue Requirement (Attachment O, Pg 1, Line 7) $ 8,860,739

Net Projected Revenue Requirement (2013 Projected Attachment O, Pg 1, Line 7) $ 7,406,002

Under/(Over) Recovery of Net Revenue Requirement $ 1,454,736

Historic Year Actual Divisor for Pricing Zone (AIC Attachment O, Pg 1, Line 15) 7,219,264 Projected Year Divisor for Pricing Zone (AIC 2013 Projected Attachment O, Pg 1, Line 15) 7,175,041 Difference between Historic & Projected Yr Divisor (44,223)Prior Year Projected Annual Cost ($ per kw per yr) $ 1.0322 Prior Year Under/(Over) Divisor True-up $ (45,647)

Total Under/(Over) Recovery $ 1,409,089

Monthly Interest Rate (updated through July, 2014) 0.0287%Interest For 24 Months $ 9,706

Total Under/(Over) Recovery Including Interest $ 1,418,795

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ATXI 2015 PROJECTION

ATXI Attachment MM Calculation - Page 1

(1) (2) (3) (4)Attachment O

Line Page, Line, Col. Transmission AllocatorNo.

1 Gross Transmission Plant - Total Attach O, p 2, line 2 + 18a col 5 (Note A) 552,342,000 1a Transmission Accumulated Depreciation Attach O, p 2, line 8 col 5 4,717,000 2 Net Transmission Plant - Total Line 1 minus Line 1a (Note B) 547,625,000

O&M TRANSMISSION EXPENSE3 Total O&M Allocated to Transmission Attach O, p 3, line 8 col 5 6,933,000 3a Transmission O&M Attach O, p 3, line 1 col 5 367,000 3b Less: LSE Expenses included in above, if any Attach O, p 3, line 1a col 5, if any - 3c Less: Account 565 included in above, if any Attach O, p 3, line 2 col 5, if any - 3d Adjusted Transmission O&M Line 3a minus Line 3b minus Line 3c 367,000

4 Annual Allocation Factor for Transmission O&M (Line 3d divided by line 1a, col 3) 7.78% 7.78%

OTHER O&M EXPENSE4a Other O&M Allocated to Transmission Line 3 minus Line 3d 6,566,000 4b Annual Allocation Factor for Other O&M Line 4a divided by Line 1, col 3 1.19% 1.19%

GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE5 Total G&C Depreciation Expense Attach O, p 3, lines 10 & 11, col 5 (Note H) - 6 Annual Allocation Factor for G&C Depreciation Expense (line 5 divided by line 1 col 3) 0.00% 0.00%

TAXES OTHER THAN INCOME TAXES7 Total Other Taxes Attach O, p 3, line 20 col 5 155,000 8 Annual Allocation Factor for Other Taxes (line 7 divided by line 1 col 3) 0.03% 0.03%

9 Annual Allocation Factor for Other Expense Sum of line 4b, 6, and 8 1.22%

INCOME TAXES10 Total Income Taxes Attach O, p 3, line 27 col 5 24,806,313 11 Annual Allocation Factor for Income Taxes (line 10 divided by line 2 col 3) 4.53% 4.53%

RETURN 12 Return on Rate Base (Note I) Attach O, p 3, line 28 col 5 47,306,341 13 Annual Allocation Factor for Return on Rate Base (line 12 divided by line 2 col 3) 8.64% 8.64%

14 Annual Allocation Factor for Return Sum of line 11 and 13 13.17%

HYPOTHETICAL CAPITAL STRUCTURE (HCS) RETURN15 Annual Allocation Factor HCS Return (Note J) Attach O, p 4, line 30e -0.02% -0.02%

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ATXI 2015 PROJECTION

ATXI Attachment MM Calculation - Page 2

(1) (2) (3) (4) (5) (6) (7) (8) (9)

Line No.   Project Name MTEP Project Number

Project Gross Plant

Project Accumulated Depreciation

Transmission O&M Annual

Allocation Factor

Annual Allocation for Transmission O&M Expense

Other Expense Annual

Allocation Factor

Annual Allocation for

Other Expense

Annual Expense Charge

        (Note C)   Page 1 line 4 (Col 4 * Col 5) Page 1 line 9 (Col 3 * Col 7) (Col 6 + Col 8)Multi-Value Projects (MVP)  

1a Pana-Sugar Creek - CWIP 2237 $ 105,255,753

$ - 7.78%

$ - 1.22% $1,280,771.54 $1,280,771.54

1b   Pana-Sugar Creek - Plant in Service - No HCS 2237 $ 4,781,146

$ 10,524 7.78%

$ 819 1.22% $58,177.87 $58,996.71

1c   Pana-Sugar Creek - Land - No HCS 2237 $ 2,817,325

$ - 7.78%

$ - 1.22% $34,281.73 $34,281.73

1d Sidney-Rising - CWIP 2239 $ 50,796,443

$ - 7.78%

$ - 1.22% $618,100.55 $618,100.55

1e   Sidney-Rising - Plant in Service - No HCS 2239 $ -   7.78%

$ - 1.22% $0.00 $0.00

1f   Sidney-Rising - Land - No HCS 2239 $ 1,277,222

$ - 7.78%

$ - 1.22% $15,541.47 $15,541.47

1g Adair-Ottumwa - CWIP 2248 $ 1,503,619

$ - 7.78%

$ - 1.22% $18,296.31 $18,296.31

1h   Adair-Ottumwa - Plant in Service - No HCS 2248 $ -   7.78%

$ - 1.22% $0.00 $0.00

1i   Adair-Ottumwa - Land - No HCS 2248 $ 657,995

$ - 7.78%

$ - 1.22% $8,006.61 $8,006.61

1j Palmyra-Pawnee - CWIP 3017 $ 245,733,043

$ - 7.78%

$ - 1.22% $2,990,125.28 $2,990,125.28

1k   Palmyra-Pawnee - Plant in Service - No HCS 3017 $ -   7.78%

$ - 1.22% $0.00 $0.00

1l   Palmyra-Pawnee - Land - No HCS 3017 $ 8,177,210

$ - 7.78%

$ - 1.22% $99,501.81 $99,501.81

1m Fargo-Galesburg-Oak Grove - CWIP 3022 $ 14,347,200

$ - 7.78%

$ - 1.22% $174,579.40 $174,579.40

1n  Fargo-Galesburg-Oak Grove - Plant in Service - No HCS 3022

$ -   7.78%

$ - 1.22% $0.00 $0.00

1o   Fargo-Galesburg-Oak Grove - Land - No HCS 3022 $ 3,394,372

$ - 7.78%

$ - 1.22% $41,303.35 $41,303.35

1p Pawnee-Pana - CWIP 3169 $ 27,907,386

$ - 7.78%

$ - 1.22% $339,582.25 $339,582.25

1q   Pawnee-Pana - Plant in Service - No HCS 3169 $ -   7.78%

$ - 1.22% $0.00 $0.00

1r   Pawnee-Pana - Land - No HCS 3169 $ 2,813,762

$ - 7.78%

$ - 1.22% $34,238.38 $34,238.38

1s Adair-Palmyra - CWIP 3170 $ 26,020,057

$ - 7.78%

$ - 1.22% $316,616.88 $316,616.88

1t   Adair-Palmyra - Plant in Service - No HCS 3170 $ -   7.78%

$ - 1.22% $0.00 $0.00

1u   Adair-Palmyra - Land - No HCS 3170 $ 769,450

$ - 7.78%

$ - 1.22% $9,362.81 $9,362.81

                     

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ATXI 2015 PROJECTION

ATXI Attachment MM Calculation - Page 2 (Continued)   (1) (2) (10) (11) (11a) (12) (13) (14) (15) (16)

Line No.   Project Name

MTEP Project Number Project Net Plant

Annual Allocation Factor for

Return

Annual Allocation Factor for HCS

ReturnAnnual Return

Charge

Project Depreciation

ExpenseAnnual Revenue

Requirement True-Up Adjustment

MVP Annual Adjusted Revenue

Requirement

        (Col 3 - Col 4) (Page 1 line 14)(Page 1 line 15)

(Note J)(Col 10 * (Col 11 +

11a)) (Note E)(Sum Col. 9, 12 &

13) (Note F)Sum Col. 14 & 15

(Note G)

Multi-Value Projects (MVP)      

1a Pana-Sugar Creek - CWIP 2237 $ 105,255,753 13.17% -0.02% $ 13,840,136

$ -

$ 15,120,908 $ (492,359) $ 14,628,549

1b   Pana-Sugar Creek - Plant in Service - No HCS 2237 $ 4,770,621 13.17% 0.00% $ 628,208

$ 91,212

$ 778,416   $ 778,416

1c   Pana-Sugar Creek - Land - No HCS 2237 $ 2,817,325 13.17% 0.00% $ 370,992

$ -

$ 405,274 $ 211,302 $ 616,576

1d Sidney-Rising - CWIP 2239 $ 50,796,443 13.17% -0.02% $ 6,679,252

$ -

$ 7,297,352 $ (134,662) $ 7,162,690

1e   Sidney-Rising - Plant in Service - No HCS 2239 $ - 13.17% 0.00% $ -

$ -

$ -   $ -

1f   Sidney-Rising - Land - No HCS 2239 $ 1,277,222 13.17% 0.00% $ 168,188

$ -

$ 183,729 $ 171,241 $ 354,971

1g Adair-Ottumwa - CWIP 2248 $ 1,503,619 13.17% -0.02% $ 197,712

$ -

$ 216,008

$ - $ 216,008

1h   Adair-Ottumwa - Plant in Service - No HCS 2248 $ - 13.17% 0.00% $ -

$ -

$ -   $ -

1i   Adair-Ottumwa - Land - No HCS 2248 $ 657,995 13.17% 0.00% $ 86,646

$ -

$ 94,653 $ - $ 94,653

1j Palmyra-Pawnee - CWIP 3017 $ 245,733,043 13.17% -0.02% $ 32,311,571

$ -

$ 35,301,697

$ (404,306) $ 34,897,391

1k   Palmyra-Pawnee - Plant in Service - No HCS 3017 $ - 13.17% 0.00% $ -

$ -

$ -   $ -

1l   Palmyra-Pawnee - Land - No HCS 3017 $ 8,177,210 13.17% 0.00% $ 1,076,796

$ -

$ 1,176,298

$ 1,216,042 $ 2,392,340

1m Fargo-Galesburg-Oak Grove - CWIP 3022 $ 14,347,200 13.17% -0.02% $ 1,886,521

$ -

$ 2,061,101

$ 557 $ 2,061,658

1n  Fargo-Galesburg-Oak Grove - Plant in Service - No HCS 3022 $ - 13.17% 0.00%

$ -

$ -

$ -   $ -

1o   Fargo-Galesburg-Oak Grove - Land - No HCS 3022 $ 3,394,372 13.17% 0.00% $ 446,980

$ -

$ 488,283

$ 44,343 $ 532,626

1p Pawnee-Pana - CWIP 3169 $ 27,907,386 13.17% -0.02% $ 3,669,557

$ -

$ 4,009,140

$ 59,313 $ 4,068,452

1q   Pawnee-Pana - Plant in Service - No HCS 3169 $ - 13.17% 0.00% $ -

$ -

$ -   $ -

1r   Pawnee-Pana - Land - No HCS 3169 $ 2,813,762 13.17% 0.00% $ 370,523

$ -

$ 404,762

$ 438,587 $ 843,348

1s Adair-Palmyra - CWIP 3170 $ 26,020,057 13.17% -0.02% $ 3,421,391

$ -

$ 3,738,008

$ 287,601 $ 4,025,609

1t   Adair-Palmyra - Plant in Service - No HCS 3170 $ - 13.17% 0.00% $ -

$ -

$ -   $ -

1u   Adair-Palmyra - Land - No HCS 3170 $ 769,450 13.17% 0.00% $ 101,323

$ -

$ 110,686

$ 119,215 $ 229,901

       

                       

2 MVP Total Annual Revenue Requirements $71,386,314 $1,516,874 $72,903,188

3 Rev. Req. Adj For Attachment O $71,386,314

14

ATXI 2013 TRUE UP – ATTACHMENT MM

ATXI 2013 Attachment MM True Up(a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k)

Actual Projected Attachment MM Actual True-Up Applicable True-Up MTEP Actual Annual Revenues Annual Adjustment Interest Adjustment Total

Line Project Project Attachment MM Revenue Allocated Revenue Principal Rate on Interest True-UpNo. Name Number Revenues Requirement 1 to Projects 1 Requirement 1 Under/(Over) Under/(Over) Under/(Over) Adjustment

Projected [Col. (d), line 1 Actual Attachment MM x (Col. (e), line 2x / Attachment MM Col. (h) x Col. (i) p 2 of 2, Col. 142 Col. (e), line 3)]2 p 2 of 2, Col. 142 Col. (g) - Col. (f) Line 5 x 24 months 2 Col. (h) + Col. (j)

1Actual Attachment MM revenues for True-Up Year 1 $ 5,146,572

2a Pana-Sugar Creek 2237 1,813,837 1,670,447 1,181,456 (488,991) 0.03% (3,368) (492,359)

2b Pana-Sugar Creek - Land - No HCS 2237 - 209,857 209,857 0.03% 1,445 211,302

2c Sidney-Rising 2239 380,474 350,396 216,655 (133,741) 0.03% (921) (134,662)

2d Sidney-Rising - Land - No HCS 2239 - 170,070 170,070 0.03% 1,171 171,241

2e Palmyra-Pawnee 3017 3,107,372 2,861,723 2,460,183 (401,540) 0.03% (2,766) (404,306)

2f Palmyra-Pawnee - Land - No HCS 3017 - 1,207,723 1,207,723 0.03% 8,319 1,216,042

2g Fargo-Galesburg-Oak Grove 3022 - 553 553 0.03% 4 557

2h Fargo-Galesburg-Oak Grove - Land - No HCS 3022 - 44,040 44,040 0.03% 303 44,343

2i Pawnee-Pana 3169 286,668 264,006 322,913 58,907 0.03% 406 59,313

2j Pawnee-Pana - Land - No HCS 3169 - 435,587 435,587 0.03% 3,000 438,587

2k Adair-Palmyra 3170 - 285,634 285,634 0.03% 1,967 287,601

2l Adair-Palmyra - Land - No HCS 3170 - 118,399 118,399 0.03% 816 119,215 3 Subtotal $ 5,588,351 $ 5,146,572 $ 6,653,070

4 Under/(Over) Recovery $ 1,506,498 $ 10,376 $ 1,516,874

5 Applicable Interest rate per month (expressed to four decimal places) Interest Rate updated through July 2014 0.0287%

1 Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment MM, page 2, column 15.2 Rounded to whole dollars.

15

ATXI 2015 MVP SPEND

MVPsAmeren Name 2015 CAPEX MTEP #s MTEP Description

Illinois Rivers $316.0 million

2237 Pana - Mt. Zion - Kansas - Sugar Creek 345 kV line2239 Sidney to Rising 345 kV line3017 Palmyra-Quincy-Meredosia - Ipava & Meredosia-Pawnee 345 kV Line3169 Pawnee to Pana - 345 kV Line3170 New Palmyra Substation (Maywood)

Spoon River $28.2 million

3022 Fargo-Galesburg-Oak Grove 345 kV Line   

Mark Twain $8.0 million

2248 Adair - Ottumwa 345 kV Line3170 Adair-Palmyra 345 kV Line

16

AIC Revenue Requirement

Projected 2014 vs Projected 2015

17

AIC 2015 PROJECTION

AIC Rate Base

Page.Line Jan-14 Jan-15 Change Percent

2.6 Total Gross Plant 1,327,622,018 1,597,243,472 269,621,454 20%

2.12 Total Accum Depreciation 465,639,921 480,701,771 15,061,849 3%

2.18 TOTAL NET PLANT 861,982,097 1,116,541,701 254,559,605 30%

2.18a 100% CWIP RECOVERY 0 27,739,705 27,739,705 N/A

ADJUSTMENTS TO RATE BASE

2.20 Account No. 282 -229,080,460 -285,677,648 -56,597,188 25%

2.21 Account No. 283 -17,757,369 -25,147,591 -7,390,222 42%

2.22 Account No. 190 40,041,062 38,348,097 -1,692,966 -4%

2.23 Account No. 255 0 0 0 N/A

2.25 Land Held for Future Use 425,040 1,209,908 784,868 185%

2.26 CWC 4,767,079 5,525,584 758,504 16%

2.27 Materials & Supplies 8,000,238 10,110,433 2,110,195 26%

2.28 Prepayments 1,049,481 1,538,083 488,602 47%

TOTAL ADJUSTMENTS -192,554,928 -254,093,135 -61,538,206 32%

2.30 TOTAL RATE BASE 669,427,168 890,188,272 220,761,104 33%

18

AIC 2015 PROJECTION

AIC Expenses

Page.Line Jan-14 Jan-15 Change PercentO&M

3.1 Transmission 42,031,093 41,012,814 -1,018,279 -2%3.1a Less LSE Expenses 2,577,054 1,685,383 -891,671 -35%3.2 Less Account 565 13,190,160 9,206,193 -3,983,967 -30%3.3 A&G 12,184,795 14,085,792 1,900,997 16%3.4 Less FERC Annual Fees 0 0 0 N/A3.5 Less EPRI, ect. 408,626 356,844 -51,782 -13%3.5a Plus Trans. Reg. Comm. Exp 96,587 354,483 257,897 267%3.8 TOTAL O&M 38,136,635 44,204,670 6,068,035 16%

3.12 TOTAL DEPRECIATION 22,612,545 28,851,740 6,239,195 28%

TAXES 0 N/A3.13 Payroll 894,566 944,247 49,681 6%3.16 Property 1,048,910 1,132,036 83,126 8%3.18 Other 388,574 378,748 -9,825 -3%3.27 Income Taxes 31,970,516 39,706,388 7,735,872 24%

TOTAL TAXES 34,302,566 42,161,419 7,858,853 23%

TOTAL EXPENSES 95,051,746 115,217,829 20,166,083 21%

19

AIC 2015 PROJECTION

Total AIC Capital StructureCapital Structure - 2014 Projection

Page.Line $ % Cost Weighted4.27 Long Term Debt 1,972,228,239 43% 0.0615 0.02674.28 Preferred Stock 61,721,350 1% 0.0490 0.00074.29 Common Stock 2,508,477,417 55% 0.1238 0.06844.3 Total 4,542,427,006 100% 0.0957

Capital Structure - 2015 Projection

Page.Line $ % Cost Weighted4.27 Long Term Debt 2,210,270,314 45% 0.0594 0.02674.28 Preferred Stock 61,721,350 1% 0.0490 0.00064.29 Common Stock 2,646,273,821 54% 0.1238 0.06664.3 Total 4,918,265,485 100% 0.0939

Change in Return -0.1785%

20

AIC 2015 PROJECTION

Total AIC Revenue Requirement

Page.Line Jan-14 Jan-15 Change Percent2.30 TOTAL RATE BASE 669,427,168 890,188,272 220,761,104 33%4.30 Rate of Return 9.57% 9.39% -0.18% -2%3.28 Return 64,074,874 83,616,156 19,541,282 30%

Total Expenses 95,051,746 115,217,829 20,166,083 21%3.29 TOTAL GROSS REV. REQ. 159,126,620 198,833,985 39,707,365 25%

3.30 Less ATT. GG Adjustment 5,567,662 10,393,645 4,825,983 87%3.30a Less ATT. MM Adjustment 0 5,819,860 5,819,860 N/A3.31 GROSS REV. REQ. UNDER ATT. O 153,558,958 182,620,480 29,061,522 19%

21

AIC 2015 PROJECTION

AIC True-up & Net Revenue Requirement

Page.Line Jan-14 Jan-15 Change Percent1.1 Gross Revenue Requirement 153,558,958 182,620,480 29,061,522 19%1.6 Total Revenue Credits 10,558,034 12,163,781 1,605,747 15%

1.6a Historic Year Actual ATRR 0 123,689,426 123,689,426 N/A1.6b Projected ATRR from Prior Year 0 133,507,911 133,507,911 N/A1.6c Prior Year ATRR True-Up 0 (9,818,485) (9,818,485) N/A1.6d Prior Year Divisor True-Up 0 (822,872) (822,872) N/A1.6e Interest on Prior Year True-Up 0 (691,603) (691,603) N/A

1.7a NET REVENUE REQUIREMENT 143,000,924 159,123,738 16,122,814 11%1.7b Prairie Power 0 0 0 N/A1.7 AIC Adjusted Revenue Requirement 143,000,924 159,123,738 16,122,814 11%

22

AIC 2013 TRUE UP – ATTACHMENT O

Ameren Illinois Company - AIC2013 Attachment O Revenue Requirement True-Up (WP 15)

Year Ended December 31, 2013

Attachment ONet Actual Revenue Requirement (Attachment O, Pg 1, Line 7a) $ 123,689,426

Net Projected Revenue Requirement (2013 Projected Attachment O, Pg 1, Line 7a) $ 133,507,911

Under/(Over) Recovery of Net Revenue Requirement $ (9,818,485)

Historic Year Actual Divisor for Pricing Zone (Attachment O, Pg 1, Line 15) 7,219,264 Projected Year Divisor for Pricing Zone (2013 Projected Attachment O, Pg 1, Line 15) 7,175,041 Difference between Historic & Projected Yr Divisor (44,223)Prior Year Projected Annual Cost ($ per kw per yr) $ 18.6073 Prior Year Under/(Over) Divisor True-up $ (822,872)

Total Under/(Over) Recovery $ (10,641,357)

Monthly Interest Rate (updated through July, 2014) 0.2708%Interest For 24 Months $ (691,603)

Total Under/(Over) Recovery Including Interest $ (11,332,960)

23

AIC 2015 PROJECTION

AIC Attachment GG Calculation - Page 1 (1) (2) (3) (4)

Attachment OLine Page, Line, Col. Transmission AllocatorNo.

1 Gross Transmission Plant - Total Attach O, p 2, line 2 col 5 (Note A) 1,542,816,2402 Net Transmission Plant - Total Attach O, p 2, line 14 and 23b col 5 (Note B) 1,079,289,894

O&M EXPENSE3 Total O&M Allocated to Transmission Attach O, p 3, line 8 col 5 44,204,6704 Annual Allocation Factor for O&M (line 3 divided by line 1 col 3) 2.87% 2.87%

GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE5 Total G&C Depreciation Expense Attach O, p 3, lines 10 & 11, col 5 (Note H) 2,743,0776 Annual Allocation Factor for G&C Depreciation Expense (line 5 divided by line 1 col 3) 0.18% 0.18%

TAXES OTHER THAN INCOME TAXES7 Total Other Taxes Attach O, p 3, line 20 col 5 2,455,0318 Annual Allocation Factor for Other Taxes (line 7 divided by line 1 col 3) 0.16% 0.16%

9 Annual Allocation Factor for Expense Sum of line 4, 6, and 8 3.20%

INCOME TAXES10 Total Income Taxes Attach O, p 3, line 27 col 5 39,706,38811 Annual Allocation Factor for Income Taxes (line 10 divided by line 2 col 3) 3.68% 3.68%

RETURN 12 Return on Rate Base Attach O, p 3, line 28 col 5 83,616,15613 Annual Allocation Factor for Return on Rate Base (line 12 divided by line 2 col 3) 7.75% 7.75%

14 Annual Allocation Factor for Return Sum of line 11 and 13 11.43%

24

AIC 2015 PROJECTION

AIC Attachment GG Calculation - Page 2

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)

Line No.   Project Name

MTEP Project Number

Project Gross Plant

Annual Allocation Factor for Expense

Annual Expense Charge Project Net Plant

Annual Allocation Factor for

ReturnAnnual Return

Charge

Project Depreciation

ExpenseAnnual Revenue

RequirementTrue-Up

AdjustmentNetwork

Upgrade Charge

        (Note C) (Page 1 line 9) (Col. 3 * Col. 4) (Note D) (Page 1 line 14) (Col. 6 * Col. 7) (Note E) (Sum Col. 5, 8 & 9) (Note F)Sum Col. 10 & 11

(Note G)         

1a Wood River-Roxford 1502 138kV line 728 $ 3,424,487 3.20% $109,656.07

$ 2,993,930 11.43% $342,094.43 $52,500 $504,250.51 $ 6,549 510,800

1b Sidney-Paxton 138kV Reconductor 18 miles 870 $ 5,994,479 3.20% $191,950.22

$ 5,195,138 11.43% $593,610.34 $99,720 $885,280.55 $ 5,886 891,167

1c Coffeen Plant-Coffeen, North - 2nd. Bus tie 2829 $ 5,592,558 3.20% $179,080.24

$ 5,145,653 11.43% $587,956.05 $97,896 $864,932.29 $ 26,307 891,239

1d Latham - Oreana 8.5 mile 345kV line 2068 $ 23,646,156 3.20% $757,177.53

$ 23,120,897 11.43% $2,641,855.37 $350,082 $3,749,114.90 $ 610,422 4,359,537

1eBrokaw - South Bloomington 345/138kV Transformer & line extension 2069

$ 27,401,139 3.20% $877,416.47

$ 27,164,639 11.43% $3,103,904.17 $408,746 $4,390,067.05 $ - 4,390,067

                                    

         

         

         

         

         

         

         

         

         

         

                           

2 Annual Totals $10,393,645 $649,164 $11,042,809

3 Rev. Req. Adj For Attachment O $10,393,645

25

AIC 2013 TRUE UP – ATTACHMENT GG

AIC 2013 Attachment GG True Up

(a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) Actual Projected Attachment GG Actual True-Up Applicable True-Up MTEP Actual Annual Revenues Annual Adjustment Interest Adjustment TotalLine Project Project Attachment GG Revenue Allocated Revenue Principal Rate on Interest True-Up

No. Name Number Revenues Requirement 1 to Projects 1 Requirement 1 Under/(Over) Under/(Over) Under/(Over) Adjustment Projected [Col. (d), line 1 Actual Attachment GG x (Col. (e), line 2x / Attachment GG Col. (h) x Col. (i)

p 2 of 2, Col. 102 Col. (e), line 3)]2 p 2 of 2, Col. 102 Col. (g) - Col. (f) Line 5 x 24 months 2 Col. (h) + Col. (j)

1Actual Attachment GG revenues for True-Up Year 1 $2,517,438

2a Wood River-Roxford 1502 138kV line 728 536,385 564,209 570,714 6,505 0.03% 44 6,5492b Sidney-Paxton 138kV Reconductor 18 miles 870 949,603 998,862 1,004,708 5,846 0.03% 40 5,8862c Coffeen Plant-Coffeen, North - 2nd. Bus tie 2829 907,302 954,367 980,495 26,128 0.03% 179 26,3072d Latham - Oreana 8.5 mile 345kV line 2068 606,275 606,275 0.03% 4,147 610,422 3 Subtotal $2,393,290 $2,517,438 $3,162,192

4 Under/(Over) Recovery $644,754 $4,410 $649,164

5 Applicable Interest rate per month (expressed to four decimal places) Interest Rate updated through July 2014 0.0285%

1 Amount excludes True-Up Adjustment, as reported in True-Up Year projected Attachment GG, page 2, column 11.2 Rounded to whole dollars.

26

AIC 2015 PROJECTION

AIC Attachment MM Calculation - Page 1 (1) (2) (3) (4)

Attachment OLine Page, Line, Col. Transmission AllocatorNo.

1 Gross Transmission Plant - Total Attach O, p 2, line 2 col 5 (Note A) 1,542,816,240 1a Transmission Accumulated Depreciation Attach O, p 2, line 8 col 5 463,526,346 2 Net Transmission Plant - Total Line 1 minus Line 1a (Note B) 1,079,289,894

O&M TRANSMISSION EXPENSE3 Total O&M Allocated to Transmission Attach O, p 3, line 8 col 5 44,204,670 3a Transmission O&M Attach O, p 3, line 1 col 5 41,012,814 3b Less: LSE Expenses included in above, if any Attach O, p 3, line 1a col 5, if any 1,685,383 3c Less: Account 565 included in above, if any Attach O, p 3, line 2 col 5, if any 9,206,193 3d Adjusted Transmission O&M Line 3a minus Line 3b minus Line 3c 30,121,238

4 Annual Allocation Factor for Transmission O&M (Line 3d divided by line 1a, col 3) 6.50% 6.50%

OTHER O&M EXPENSE4a Other O&M Allocated to Transmission Line 3 minus Line 3d 14,083,432 4b Annual Allocation Factor for Other O&M Line 4a divided by Line 1, col 3 0.91% 0.91%

GENERAL AND COMMON (G&C) DEPRECIATION EXPENSE5 Total G&C Depreciation Expense Attach O, p 3, lines 10 & 11, col 5 (Note H) 2,743,077 6 Annual Allocation Factor for G&C Depreciation Expense (line 5 divided by line 1 col 3) 0.18% 0.18%

TAXES OTHER THAN INCOME TAXES7 Total Other Taxes Attach O, p 3, line 20 col 5 2,455,031 8 Annual Allocation Factor for Other Taxes (line 7 divided by line 1 col 3) 0.16% 0.16%

9 Annual Allocation Factor for Other Expense Sum of line 4b, 6, and 8 1.25% 1.25%

INCOME TAXES10 Total Income Taxes Attach O, p 3, line 27 col 5 39,706,388 11 Annual Allocation Factor for Income Taxes (line 10 divided by line 2 col 3) 3.68% 3.68%

RETURN 12 Return on Rate Base Attach O, p 3, line 28 col 5 83,616,156 13 Annual Allocation Factor for Return on Rate Base (line 12 divided by line 2 col 3) 7.75% 7.75%

14 Annual Allocation Factor for Return Sum of line 11 and 13 11.43%

27

AIC 2015 PROJECTION

AIC Attachment MM Calculation - Page 2 (1) (2) (3) (4) (5) (6) (7) (8) (9)

Line No.   Project Name

MTEP Project Number Project Gross Plant

Project Accumulated Depreciation

Transmission O&M Annual

Allocation Factor

Annual Allocation for Transmission

O&M Expense

Other Expense Annual

Allocation Factor

Annual Allocation for

Other Expense

Annual Expense Charge

        (Note C)   Page 1 line 4 (Col 4 * Col 5) Page 1 line 9 (Col 3 * Col 7) (Col 6 + Col 8)Multi-Value Projects (MVP)  1a Pana-Sugar Creek - CWIP 2237 $ 13,000,509 $ - 6.50% $ - 1.25% $162,475.50 $162,475.501b   Pana-Sugar Creek - Plant in Service 2237 $ 1,688,470 $ 11,269 6.50% $ 732 1.25% $21,101.86 $21,834.141d Sidney-Rising - CWIP 2239 $ 3,321,345 $ - 6.50% $ - 1.25% $41,508.93 $41,508.931e   Sidney-Rising - Plant in Service 2239 $ - $ - 6.50% $ - 1.25% $0.00 $0.001j Palmyra-Pawnee - CWIP 3017 $ 6,465,961 $ - 6.50% $ - 1.25% $80,809.16 $80,809.161k   Palmyra-Pawnee - Plant in Service 3017 $ 14,548,742 $ 109,575 6.50% $ 7,120 1.25% $181,824.73 $188,945.221m Fargo-Galesburg-Oak Grove - CWIP 3022 $ 619,451 $ - 6.50% $ - 1.25% $7,741.67 $7,741.671n   Fargo-Galesburg-Oak Grove - Plant in Service 3022 $ - $ - 6.50% $ - 1.25% $0.00 $0.001p Pawnee-Pana - CWIP 3169 $ 4,332,438 $ - 6.50% $ - 1.25% $54,145.19 $54,145.19

1q   Pawnee-Pana - Plant in Service 3169 $ 147,399 $ 166 6.50% $ 11 1.25% $1,842.14 $1,852.92                     

(1) (2) (10) (11) (12) (13) (14) (15) (16)

Line No.   Project Name

MTEP Project Number Project Net Plant

Annual Allocation Factor for Return

Annual Return Charge

Project Depreciation Expense

Annual Revenue Requirement True-Up Adjustment

MVP Annual Adjusted Revenue

Requirement

        (Col 3 - Col 4) (Page 1 line 14) (Col 10 * Col 11) (Note E)(Sum Col. 9, 12 &

13) (Note F)Sum Col. 14 & 15

(Note G)Multi-Value Projects (MVP)      1a Pana-Sugar Creek - CWIP 2237 $ 13,000,509 11.43% $ 1,485,473 $ - $ 1,647,948 $ - $ 1,647,948 1b   Pana-Sugar Creek - Plant in Service 2237 $ 1,677,201 11.43% $ 191,641 $ 32,574 $ 246,049 $ - $ 246,049 1d Sidney-Rising - CWIP 2239 $ 3,321,345 11.43% $ 379,506 $ - $ 421,015 $ - $ 421,015 1e   Sidney-Rising - Plant in Service 2239 $ - 11.43% $ - $ - $ - $ - $ - 1j Palmyra-Pawnee - CWIP 3017 $ 6,465,961 11.43% $ 738,818 $ - $ 819,627 $ - $ 819,627 1k   Palmyra-Pawnee - Plant in Service 3017 $ 14,439,167 11.43% $ 1,649,858 $ 197,883 $ 2,036,686 $ - $ 2,036,686 1m Fargo-Galesburg-Oak Grove - CWIP 3022 $ 619,451 11.43% $ 70,780 $ - $ 78,522 $ - $ 78,522 1n   Fargo-Galesburg-Oak Grove - Plant in Service 3022 $ - 11.43% $ - $ - $ - $ - $ - 1p Pawnee-Pana - CWIP 3169 $ 4,332,438 11.43% $ 495,036 $ - $ 549,181 $ - $ 549,181 1q   Pawnee-Pana - Plant in Service 3169 $ 147,233 11.43% $ 16,823 $ 2,156 $ 20,832 $ - $ 20,832                      

2 MVP Total Annual Revenue Requirements $5,819,860 $0 $5,819,860

3 Rev. Req. Adj For Attachment O

28

AIC 2015 MVP SPEND

MVPsAmeren Name 2015 CAPEX MTEP #s MTEP Description

Illinois Rivers $46.4 million

2237 Pana - Mt. Zion - Kansas - Sugar Creek 345 kV line2239 Sidney to Rising 345 kV line3017 Palmyra-Quincy-Meredosia - Ipava & Meredosia-Pawnee 345 kV Line3169 Pawnee to Pana - 345 kV Line3170 New Palmyra Substation (Maywood)

Spoon River $1.7 million

3022 Fargo-Galesburg-Oak Grove 345 kV Line   

29

AIC PROJECTIONS FOR 2015

Significant Line Expansion Projects (> $25 Million)

Project Name Total Cost ISD MTEP MISO ID# MTEP Description

Latham-Oreana (Attach GG) $24 M 2013/

2014 MTEP08 2068Convert Oreana 345 kV Bus to 6-Position Ring Bus with 3000 A Capability; Construct 8.5 miles of 345 kV line (2-954 kcmil ACSR conductor or equivalent capability) from Oreana Substation to 345 kV Line 4571 tap to Latham Substation. 3-345 kV PCB's at Oreana Substation.

Brokaw-S Bloomington (Attach GG) $28 M 2014 MTEP08 2069

South Bloomington Area 345/138 kV Substation - Install 345/138 kV, 560 MVA Transformer. Extend new 345 kV line approximately 5 miles from Brokaw Substation to South Bloomington Substation. Install 1-138 kV PCB at South Bloomington Substation, and 2-345 kV PCB's at Brokaw Substation.

Fargo-Mapleridge(Attach GG) $47 M 2016 MTEP09 2472

Tap existing 345kV line from Duck Creek to Tazewell and create new Mapleridge Substation. Build a new supply line to the Fargo Substation by extending 20 miles of 345kV from the new Mapleridge Substation. Install 560 MVA 345/138kV Transformer at Fargo.

Bondville-SW Campus $38 M 2014 MTEP10 2992 Bondville-S.W. Campus 138 kV - Construct 8 miles of new 138 kV line. Construct 138 kV Ring Bus at Bondville (2 new PCB's) and a 138 kV Ring Bus at Champaign S.W. Campus (4 new PCB's).

Edwards Substation $29M 2015 MTEP14 4315 Rebuild 138 kV switchyard at Edwards Plant. Arrange as breaker-and-a-half scheme. Replace 15-138 kV Breakers.

Cahokia-Turkey Hill $34M 2014/2015 MTEP13 3013 Convert the Turkey Hill-Cahokia 138kV line 1492 line to 345kV operation

(approximately 19 miles). Install a new 345kV breaker position at both Turkey Hill and Cahokia to accommodate this new line.

Havana-Danvers-1352 138 kV Rebuild $32M 2015 MTEP14 4493

Rebuild the Havana-Danvers 138 kV line 1352 from Powerton Tap to Danvers (29.8 miles) and install conductor having a minimum summer emergency capability of 1200 A. Rebuild Danvers-West Washington line 1364 from Danvers to Diamond Star Tap for 1200 A capability.

30

AIC PROJECTIONS FOR 2014 - 2015

Modifications to Existing FacilitiesCategory 2014-2015 CAPEX Projects Description

Reliability/aging infrastructure replacement $416 million 366

These projects are primarily driven by the need to upgrade the transmission system based on meeting NERC standards or Ameren Planning Criteria and Guidelines. The NERC TPL standards set forth a set of tests that a transmission system must meet for a list of plausible scenarios, including contingent scenarios. Ameren Planning Criteria and Guidelines (C&G) are filed each year at FERC and constitute an additional, or complementary, set of tests that the transmission system must meet.

Clearance for planned line rating $143 million 148These projects are primarily driven by the need to upgrade the transmission system to support expected flows on the transmission circuits. Load growth, plant additions/retirements, and flow changes due to future system expansions are primary inputs into the decision to either increase ground clearances using existing wire or in some cases, increasing ground clearances with wire replacement, in order to achieve higher circuit ratings.

Right of way expansion $19 million 34

These projects are driven by the need to increase the rights and rights-of-way associated with 40 transmission corridors. The primary benefit of this set of projects is increased reliability of the system in the area of vegetation. In many cases, the existing rights-of-way are much narrower than the widths specified in Ameren's Planning Criteria and Guidelines for reliable circuit operation. The 2003 blackout and the recent 2011 Northeast US major outage event had vegetation as an incipient cause. After both events, and with the adoption of the FAC-003 standard, FERC has emphasized the need for increased vegetation management efforts which these projects support.

Improved Reliability $3 million 12These projects are driven by the need to address reliability concerns driven by system topology, configuration, or condition. Operating issues, including outages, usually identify these kinds of projects. The majority of these projects involve additions of equipment in substations, e.g. relaying and/or circuit breakers.

31

SCHEDULE 9 NITS RATE FOR 2015

* PPI has a historical Attachment O so their rates changes each June 1st. The amount shown for 2014 is the ATRR revised in March 14. The amount shown for 2015 is the ATRR effective 6/1/14 - 5/31/15

Page.Line Jan-14 Jan-15 Change Percent1.7 AIC Adjusted Revenue Requirement 143,000,924 159,123,738 16,122,814 11%1.7 ATXI Adjusted Revenue Requirement 10,761,294 9,851,594 -909,701 -8%1.7 PPI Adjusted Revenue Requirement * 2,734,142 3,863,037 1,128,895 41%

Total Revenue Requirement 156,496,360 172,838,369 16,342,009 10%1.15 Ameren Illinois Divisor 7,045,000 7,095,335 50,335 1%

. Annual Cost ($/kW/Yr) 22.214 24.359 2.146 10%

. Network & P-to-P Rate ($/kW/Mo) 1.851 2.030 0.179 10%

QUESTIONS?

33

APPENDIX - MISO WEB LINKS

• Transmission Pricing - Attachments O, GG & MM Information• https

://www.misoenergy.org/MarketsOperations/TransmissionSettlements/Pages/TransmissionPricing.aspx

• Ameren OASIS• http://www.oasis.oati.com/AMRN/index.html

• MTEP 13• https://

www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEP13.aspx

• MTEP 14• https://

www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEP14.aspx

• Schedule 26 & 26-A Indicative Charges • https

://www.misoenergy.org/Planning/TransmissionExpansionPlanning/Pages/MTEPStudies.aspx

34

APPENDIX - AIC AND ATXI

• Additional questions can be sent to Ameren’s Formula Rates email address– MISOFormulaRates@ameren.com