REGULATORY MATTERS (Tables)

12 Months Ended

Dec. 31, 2015

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,
	2015			2014
Regulatory Assets:
Current:
Under recovered fuel costs	$	196		$	2,618
Current portion of long-term regulatory assets		6,856			8,134
Regulatory assets, current		7,052			10,752
Long-term:
Pension and other postretirement benefits(1)		108,273			111,121
Income taxes		48,613			47,177
Deferred construction accounting costs(2)		14,977			15,521
Unamortized loss on reacquired debt		9,731			10,405
Unsettled derivative losses — electric segment		7,775			9,037
System reliability — vegetation management		3,604			5,337
Storm costs(3)		3,531			4,183
Asset retirement obligation		7,722			5,145
Customer programs		5,942			5,253
Missouri solar initiative		3,504			—
Current portion of long-term regulatory assets		(6,856	)		(8,134	)
Other		2,892			4,672
Regulatory assets, long-term		209,708			209,717
Total Regulatory Assets	$	216,760		$	220,469
Regulatory Liabilities
Current:
Over recovered fuel costs	$	5,280		$	4,227
Current portion of long-term regulatory liabilities		3,335			3,671
Regulatory liabilities, current		8,615			7,898
Long-term:
Costs of removal(4)		94,193			90,527
SWPA payment for Ozark Beach lost generation		14,213			16,744
Income taxes		11,244			11,451
Deferred construction accounting costs — fuel(5)		7,690			7,849
Unamortized gain on interest rate derivative		3,031			3,201
Pension and other postretirement benefits		1,745			2,369
Over recovered fuel costs		2,300			1
System reliability — vegetation management		1,320			—
Current portion of long-term regulatory liabilities		(3,335	)		(3,671	)
Other		56			—
Regulatory liabilities, long-term		132,457			128,471
Total Regulatory Liabilities	$	141,072		$	136,369

(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 $2.9 million at December 31, 2015.

(4)As part of our depreciation rates, we accrue the estimated cost of dismantling and removing plant from service upon retirement. The accrued cost of removal, upon retirement, is reclassified from accumulated depreciation to a regulatory liability. These reclassified amounts are reflected here. See the depreciation discussion under Note 1 and Note 2 Property, Plant and Equipment for more detail.

(5)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, 2013:

Jurisdiction	Date Requested	Annual Increase Granted		Percent Increase Granted			Date Effective
Missouri — Electric	August 29, 2014	$	17,125,000		3.90	%	July 26, 2015
Kansas — Electric	December 5, 2014	$	782,479		4.71	%	June 1, 2015
Arkansas — Electric	February 23, 2015	$	457,000		3.35	%	February 23, 2015
Kansas — Electric	January 22, 2015	$	273,455		1.08	%	February 23, 2015
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

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	%