Interstate Power and Light Company Receives Sutherland Generating Station Unit 4 Ratemaking Principles Decision From Iowa Utilities Board
Alliant Energy is the parent company of two public utility companies--Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL)--and of Alliant Energy Resources, Inc. (AER), the parent company of Alliant Energy's non-regulated operations. (PRNewsFoto/ALLIANT ENERGY CORPORATION)
MADISON, WI UNITED STATES
DES MOINES, Iowa, Feb. 4 /PRNewswire-FirstCall/ -- Interstate Power and
Light Company (IPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT),
received an oral decision today from the Iowa Utilities Board (IUB) concerning
its ratemaking principles request for the company's proposed construction of
the 649-megawatt Sutherland Generating Station Unit 4 in Marshalltown, Iowa.
In its decision, the IUB established a return on equity of 10.1 percent
and a cost cap of $2816.00 per kilowatt, excluding AFUDC. IPL had requested a
return on equity of 12.55 percent and a cost cap of $3483.00 per kilowatt,
excluding AFUDC. IPL has proposed to own 350 megawatts of the facility's
output, with the remaining output owned by other partners or included in
purchased power agreements.
"We will need to review the IUB's written order to determine our next
steps," states Tom Aller, president-IPL. "However, the conditions placed by
the IUB on the proposed hybrid power plant present a number of challenges in
today's financial climate, and we are disappointed that this decision
seemingly does not take that reality into account. We will continue to work
with our partners to determine how today's decision will impact our respective
companies' long-term generation plans. IPL remains committed to pursuing safe,
reliable, environmentally responsible and cost effective energy supply options
to meet Iowa's future energy needs."
"Our company appreciates the tremendous support demonstrated by our labor
partners, industry, agriculture and business leaders, the community of
Marshalltown and economic development organizations across the state for this
project," adds Aller.
About Alliant Energy
Alliant Energy is an energy-services provider with subsidiaries serving
approximately 1 million electric and 400,000 natural gas customers.
Providing its customers in the Midwest with regulated electric and natural gas
service is the company's primary focus. Interstate Power and
Light, the company's Iowa and Minnesota utility subsidiary, serves
approximately 530,000 electric and 235,000 natural gas customers. Alliant
Energy is a Fortune 1000 company traded on the New York Stock Exchange under
the symbol LNT. For more information, visit the company's Web site at
http://www.alliantenergy.com.
