REGULATORY MATTERS (Tables)

12 Months Ended

Dec. 31, 2014

Regulatory Matters

Components of regulatory assets and liabilities

The following table sets forth the components of our regulatory assets and regulatory liabilities on our consolidated balance sheet (in thousands).

	December 31,
	2014			2013
Regulatory Assets:
Current:
Under recovered fuel costs	$	2,618		$	1,411
Current portion of long-term regulatory assets		8,134			6,332
Regulatory assets, current		10,752			7,743
Long-term:
Pension and other postretirement benefits(1)		111,121			70,035
Income taxes		47,177			48,033
Deferred construction accounting costs(2)		15,521			16,275
Unamortized loss on reacquired debt		10,405			11,078
Unsettled derivative losses — electric segment		9,037			4,269
System reliability — vegetation management		5,337			7,539
Storm costs(3)		4,183			4,911
Asset retirement obligation		5,145			4,673
Customer programs		5,253			4,935
Unamortized loss on interest rate derivative		943			989
Deferred operating and maintenance expense		910			2,095
Under recovered fuel costs		640			—
Current portion of long-term regulatory assets		(8,134	)		(6,332	)
Other		2,179			833
Regulatory assets, long-term		209,717			169,333
Total Regulatory Assets	$	220,469		$	177,076
Regulatory Liabilities
Current:
Over recovered fuel costs	$	4,227		$	2,212
Current portion of long-term regulatory liabilities		3,671			3,469
Regulatory liabilities, current		7,898			5,681
Long-term:
Costs of removal		90,527			88,469
SWPA payment for Ozark Beach lost generation		16,744			19,405
Income taxes		11,451			11,677
Deferred construction accounting costs — fuel(4)		7,849			8,011
Unamortized gain on interest rate derivative		3,201			3,371
Pension and other postretirement benefits		2,369			2,177
Over recovered fuel costs		1			2,371
Current portion of long-term regulatory liabilities		(3,671	)		(3,469	)
Regulatory liabilities, long-term		128,471			132,012
Total Regulatory Liabilities	$	136,369		$	137,693

(1)	Primarily consists of unfunded pension and OPEB liability. See Note 7.
(2)	Reflects deferrals resulting from 2005 regulatory plan relating to Iatan 1, Iatan 2 and Plum Point. These amounts are being recovered over the life of the plants.
(3)	Reflects ice storm costs incurred in 2007 and costs incurred as a result of the May 2011 tornado including an accrued carrying charge and deferred depreciation totaling $3.3 million at December 31, 2014.
(4)	Resulting from regulatory plan requiring deferral of the fuel and purchased power impacts of Iatan 2.

Schedule of electric and water rate increases

The following table sets forth information regarding electric and water rate increases since January 1, 2012:

Jurisdiction	Date Requested	Annual Increase Granted		Percent Increase Granted			Date Effective
Arkansas — Electric	December 3, 2013	$	1,366,809		11.34	%		September 26, 2014
Missouri — Electric	July 6, 2012	$	27,500,000		6.78	%		April 1, 2013
Missouri — Water	May 21, 2012	$	450,000		25.5	%		November 23, 2012
Kansas — Electric	June 17, 2011	$	1,250,000		5.20	%		January 1, 2012
Oklahoma — Electric	June 30, 2011	$	240,722		1.66	%		January 4, 2012

Schedule of new highway/byway cost allocation methodology

Transmission Project Voltage	Regional Funding Percentage			Zonal Funding Percentage
300 kV and Above		100.0	%		0.0	%
100kV to 299kV		33.3	%		66.7	%
Below 100 kV		0.0	%		100.0	%