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
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.