Transmission Settlements - Schedule 2 Refund Report Explanation

How can I tie out to the refund report for a schedule 2 FERC Order?

There are other variables that go into recovering a revenue requirement than simply dividing by the number of days in the year or by number of months in a year.  The revenue requirement is only a component of the overall rate calculation. Per the Tariff, Schedule 2 is a zonal rate calculation. The calculation should result in the generator owner receiving approximately the FERC approved revenue requirement, but there is no guarantee. 

MISO uses actual settlement data for each individual monthly reservation changing the rate based on the old and new revenue requirement to get a precise refund amount.  Interest is calculated as required.  All the detail can be found in your Transmission Settlement Statement, which is located on the market portal.  You will want to filter on each applicable monthly tab based on column AI where it is equal to (INSERT Generator Name).  The dollar amount can be found in column Z.
 
The following is a link to additional information regarding how to access your Transmission Settlement Statement:
https://cdn.misoenergy.org/Transmission%20Statement%20Download%20User%20Guide119314.pdf

Below is an example of revenue received in the September TS0 and adjustments in each subsequent resettlement period.  The entire revenue was refunded in the TS8 billing cycle.  

Positive = revenue  Negative = refund