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
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 20th Cloud Expo, Tom Eck, Industry Platforms CTO at IBM Cloud, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing developers ...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to o...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...