Welcome!

News Feed Item

Alliant Energy proposes to extend Wisconsin base rate freezes through 2016

MADISON, Wis., April 9, 2014 /PRNewswire/ -- Retail natural gas base rates will be reduced and retail electric base rates will be unchanged for customers of Alliant Energy's Wisconsin utility if a request filed today with the Public Service Commission of Wisconsin (PSCW) is approved.

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.

Alliant Energy is requesting retail natural gas customers' annual retail gas base rates be reduced by $5 million in 2015, followed by a freeze of those rates through 2016. For electric customers, retail electric base rates will remain at their current levels through 2016.

Alliant Energy's retail electric base rates have been stable since 2010 and retail natural gas base rates have decreased. This request to extend rate stability through 2016 includes input from Citizens Utility Board and the Wisconsin Industrial Energy Group.

"We currently have some of the lowest electric and gas rates in the state, while using renewable energy and reducing emissions," said John Larsen, President of Alliant Energy's Wisconsin utility. "This is especially welcome news for our customers who recently experienced one of the coldest winters in decades."

The PSCW approval process for the proposed retail electric and gas base rate freeze is expected to be completed in the second quarter of 2014. If approved, the base rate freeze proposal would become effective January 1, 2015 and extend until the end of 2016. The proposed terms of the freeze are similar to the January 1, 2013 through December 31, 2014 rate freeze currently in place. 

The request recognizes the investments made in Alliant Energy's Wisconsin electric system, including:

  • Improvements in the environmental profile of Columbia Energy Center Units 1 and 2 and Edgewater Generating Station Unit 5
  • Continued investment in the electric and natural gas delivery system to maintain safe and reliable service

While electric base rates will not change under the Alliant Energy rate freeze proposal during 2015 and 2016, changes in fuel costs would be adjusted in customer bills during that time. Alliant Energy will file an annual electric fuel cost plan for calendar years 2015 and 2016.   Fuel costs for natural gas customers will continue to adjust monthly as gas costs change.

Summary of Key Financial Elements of Retail Electric and Gas Base Rate Freeze Proposal

The rate freeze proposal contains the following provisions:

  • No change in retail electric base rates through 2016
  • Natural gas base rate reduction of $5 million effective January 1, 2015 
  • Continued authorized return on common equity of 10.40%
  • Continuation of the earning sharing mechanism that is currently in place for 2013 and 2014
  • Common equity component of regulatory capital structure of 50.46% in 2015 and 50.95% in 2016
  • Retail electric and gas rate base of $2.5 billion in 2015 and $2.7 billion in 2016
  • Escrow treatment of major transmission charges
  • Continued use of the conservation escrow to offset rate base additions

The proposal must be approved by the PSCW before it becomes effective.

The proposal is available on the PSCW's electronic filing system. The filing is under Docket No. 6680-UR-119.

Alliant Energy Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements can be identified as such because the statements include words such as "approximately," "expected," "believe," "would," or other words of similar import. Similarly, statements that describe expected outcomes in the rate case settlement proposal filed with the PSCW, including the effects of the proposed settlement, are forward-looking. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Actual results could be affected by the following factors, among others:

-- Whether the PSCW approves the settlement, the timing of any such approval and any conditions or modifications imposed by the PSCW in connection with any such approval;
-- other state regulatory or governmental actions, and future regulatory proceedings, including regulatory decisions regarding WPL's proposed settlement;
-- WPL's ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of operating costs, capital expenditures, the earning of reasonable rates of return and the payment of expected levels of dividends;
-- economic conditions in WPL's service territory;
-- the impact fuel and fuel-related costs; and 
-- significant changes in the condition of WPL, its service territory or customers, the industry, or other changes, that could cause WPL or other parties to seek changes in base rates during the base rate freeze.

For more information about potential factors that could affect Alliant Energy's and WPL's businesses and financial results, please review "Risk Factors" in the companies' Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed with the Securities and Exchange Commission and in the companies' other filings with the SEC.  These factors should be considered when evaluating the forward-looking statements and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and, except as required by law, Alliant Energy and IPL undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.

About Alliant Energy
Alliant Energy Corporation's Wisconsin utility subsidiary, Wisconsin Power and Light Company, utilizes the trade name of Alliant Energy. The Wisconsin utility is based in Madison, Wis., and provides electric service to 460,000 customers and natural gas service to 182,000 customers in more than 600 communities across central and southern Wisconsin. The employees of Alliant Energy focus on delivering the energy and exceptional service their customers and communities expect – safely, efficiently and responsibly. Visit alliantenergy.com or call 1-800-ALLIANT (800-255-4268) for more information. Alliant Energy Corporation is traded on the New York Stock Exchange under the symbol LNT.

Logo - http://photos.prnewswire.com/prnh/20020405/LNTLOGO

SOURCE Alliant Energy Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors!
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.