Author Archives: Alliant Energy News

Rate freeze for Alliant Energy’s Wisconsin customers

Our Wisconsin customers will see no increase to base electric and natural gas rates through 2020 under a proposal we filed today with the Public Service Commission of Wisconsin (PSCW). Customer rates will drop for the remainder of 2018 due to bill credits following a separate PSCW decision issued today.

“The rate freeze is a win for customers,” said John Larsen, president of Alliant Energy Corporation. “We’ve worked hard to hold the line on costs through 2020. It’s important to us to deliver cleaner power to families and businesses while keeping rates down.”

We reached agreement on the proposal with significant input and collaboration from the Citizens Utility Board (CUB) and Wisconsin Industrial Energy Group (WIEG). If approved by the PSCW, the plan would be in effect 2019-2020. A decision is expected later in 2018.

No rate increase proposed for 20192020

The proposal reflects our efforts to lower operational and fuel costs, along with expected tax savings from the 2017 Tax Cuts and Jobs Act. The plan includes our investments in generating electricity from cleaner and renewable sources.

Alliant Energy’s retail electric rates are among the lowest in Wisconsin.

Immediate bill credits through end of 2018

Under a separate decision today, the PSCW specified its formula for calculating customer bill credits as a result of tax reform. We are refunding a total of $36 million for electric customers and $4 million for natural gas customers in 2018.

Residential customers will see the following bill credits:

  • One-time fixed amount credits during the June bill cycle
    • $22.92 for electric customers
    • $6.99 for natural gas customers
  • Monthly credits calculated based on usage August through December
    • $4.11 for a typical electric customer using 700 kWh/month
    • $1.15 for a typical natural gas customer using 700 therms/year

Business customers will see bill credits as well. Amounts are approximate and subject to final calculation.

Iowa families and businesses to benefit from new energy law

Earlier today, Governor Kim Reynolds signed a comprehensive new energy law. Senate File 2311 helps Iowans save money, maintains the state’s leadership in renewable energy and promotes job growth.

“We applaud the Iowa Legislature and Governor Reynolds for supporting this new energy legislation and helping the state achieve its objectives outlined in the Iowa Energy Plan,” said Doug Kopp, president of Alliant Energy’s Iowa energy company. “This new law will maintain Iowa’s place as a national leader in renewable energy and energy policy.”

This law creates new opportunities for customers to see more clean energy, because energy providers can upgrade existing wind facilities to extend their useful life and improve their efficiency.

The bill also includes regulatory efficiency updates. One major update allows energy companies to use a forward-looking test year to better align customer benefits with energy investments. For potential and existing natural gas customers, the law lowers the cost for extending natural gas service.

In addition, this law will encourage savings for customers with energy-efficiency programs. Alliant Energy’s energy-efficiency programs will continue to help customers save energy and money. Customers can find tips and download rebate forms online at alliantenergy.com/rebates, or by calling 1-866-ALLIANT (255-4268).

Alliant Energy to add more wind energy in Iowa

Customers and communities to benefit from clean, affordable energy

Alliant Energy’s Iowa energy company received approval to increase its wind expansion program from the Iowa Utilities Board. By 2020, the company now plans to add 1,000 megawatts of new wind energy in Iowa – enough clean energy to power 430,000 Iowa homes.

In Iowa, the company plans to have invested $1.8 billion in cost-competitive renewable energy by the end of 2020. The new wind farms will create hundreds of construction and other jobs while generating tens of millions of dollars in additional property taxes to communities and payments to landowners.

“Our wind energy initiatives help keep rates competitive, enhance our environmental stewardship and drive economic growth in our communities,” said Doug Kopp, president of Alliant Energy’s Iowa energy company. “Wind energy is a major part of our transition to a clean energy future.”

This spring, crews began construction on the first of several wind farms, starting with Upland Prairie Wind Farm, located in Clay and Dickinson counties in northwest Iowa. Later this year, construction is expected to start at English Farms Wind Farm, located in Poweshiek County in central Iowa.

IMG_7925

Whispering Willow Wind Farm – Franklin County, Iowa

Through this expansion, combined with existing wind farms and market purchases, the company expects wind to be approximately one-third of its Iowa total capacity by the end of 2020.

Alliant Energy’s Iowa energy company (Interstate Power and Light) filed an application for advance ratemaking principles on August 3, 2017 (RPU-2017-0002). The company continues to review the written decision order from the IUB.

 

Iowa Utilities Board order terms:

  • The ratemaking principles apply to any new wind facility constructed as part of IPL’s New Wind Project that qualifies for 100% of the federal Production Tax Credits, regardless of its location in Iowa, up to 500 megawatts.
  • Cost cap: $1,780/kilowatt, including allowance for funds used during construction (AFUDC) and transmission costs
  • Return on common equity: 11%, with the exception of certain transmission facilities classified as intangible assets, which shall earn the rate of return on equity authorized by the Iowa Utilities Board in a future rate case
  • Return on common equity used in calculating the AFUDC rate to be 9.6%
  • Depreciable life of 40 years, unless changed as a result of a contested case before the Iowa Utilities Board
  • Alliant Energy’s Iowa customers shall be entitled to the full value of any environmental attributes, beyond those needed for compliance with applicable regulatory requirements, associated with investment included in IPL’s Iowa jurisdictional rate base
  • Alliant Energy is permitted to include in Iowa rates the actual cost of the wind project up to the cost cap without need to establish prudence, but required to establish the prudence of any cost in excess of the cost cap
  • Cancellation costs: recovery of prudently incurred and unreimbursed costs, if applicable, amortized over 10 years

 About Alliant Energy Alliant Energy Corporation’s Iowa utility subsidiary, Interstate Power and Light Company (IPL), utilizes the trade name of Alliant Energy. The Iowa utility is based in Cedar Rapids, Iowa, and provides electric service to 490,000 retail customers and natural gas service to 220,000 retail customers. The employees of Alliant Energy focus on delivering the energy solutions and exceptional service their customers and communities expect – safely, efficiently and responsibly. Alliant Energy Corporation is traded on the New York Stock Exchange under the symbol LNT and is a component of the S&P 500. For more information, visit alliantenergy.com.

This press release includes forward-looking statements. These forward-looking statements can be identified because they describe future wind generation construction plans and costs and include words such as “plan” and “expect.” 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 such factors as: the inability to obtain all necessary permits; unanticipated construction issues, delays or expenditures; failure of equipment and technology to perform as expected; current or future litigation, regulatory investigations, proceedings or inquiries that could impede the implementation of Alliant Energy’s plans; political conditions in Alliant Energy’s service territories; changes to Alliant Energy’s access to capital markets; and economic conditions in Alliant Energy’s service territory. 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 Alliant Energy and Interstate Power and Light Company undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.

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Alliant Energy to deliver federal tax savings to Iowa customers

Alliant Energy’s Iowa customers will see savings this summer and into the future through lower federal taxes. As a result, customers will see lower costs for energy in Iowa.

For customers of Alliant Energy’s Iowa energy company, the annual savings is expected to be nearly $75 million, including tax-related savings from Alliant Energy’s transmission providers.

“These tax savings are great for our Iowa customers and the new, lower corporate tax rate will benefit our families, businesses and communities today and in the future,” said Doug Kopp, President of Alliant Energy’s Iowa energy company. “In the last six years, we’ve delivered about $500 million in other separate tax-related savings to customers, reducing energy costs.”

Savings

  • For typical residential electric customers, tax reform will result in an annual savings of $50-$60.
  • For typical residential natural gas customers, tax reform will result in an annual savings of nearly $30.

Timeline

In March, Alliant Energy submitted an updated filing to the Iowa Utilities Board outlining savings for Iowa customers. If approved by the Utilities Board, electric and natural gas customers will see savings this summer.

About Alliant Energy Alliant Energy Corporation’s Iowa utility subsidiary, Interstate Power and Light Company (IPL), utilizes the trade name of Alliant Energy. The Iowa utility is based in Cedar Rapids, Iowa, and provides electric service to 490,000 retail customers and natural gas service to 220,000 retail customers. The employees of Alliant Energy focus on delivering the energy solutions and exceptional service their customers and communities expect – safely, efficiently and responsibly. Alliant Energy Corporation is traded on the New York Stock Exchange under the symbol LNT and is a component of the S&P 500. For more information, visit alliantenergy.com.

This press release includes forward-looking statements. These forward-looking statements can be identified because they describe future tax savings and include the word “expected.” Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those currently anticipated, including state regulatory actions which could alter the proposed plans and federal tax regulatory actions. 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 Alliant Energy and Interstate Power and Light Company undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.

Alliant Energy’s community investment totals $7.3 million in 2017

Communities, nonprofit organizations and students benefited from $7.3 million and 88,000 volunteer hours from Alliant Energy in 2017. Iowa and Wisconsin customers were supported with resources from the company, its foundation, employees and retirees.

“Every day, our company and the Alliant Energy family put money and time into local efforts to help our communities thrive and to support our customers and neighbors in need,” said Patricia Kampling, Alliant Energy’s Chairman and CEO. “I am extremely proud of the positive impact our people make to improve the quality of life in the places we serve.”

Employee and retiree giving to nonprofit organizations takes many forms:

  • VolunteeringNonprofit organizations received $115,900 in grants as a result of employees and retirees volunteering more than 88,000 hours.
  • Matching gifts – $494,226 went to higher education institutions, community foundations, food banks, food pantries, homeless shelters and a variety of other nonprofits through the foundation matching employee and retiree donations.
  • United Way campaigns – The company, employees and retirees pledged more than $1.2 million to 60 United Way agencies across Iowa and Wisconsin. The funding goes to groups focusing on education, financial stability and health – the building blocks for a good quality of life and strong communities.

Other 2017 giving highlights include:

  • Hometown Care program – Company contributions totaling $2 million that help Iowa and Wisconsin low-income customers with their energy bills.
  • Second Harvest and Feeding America Food BanksFunding for food pantries, including $475,000 raised through the company’s annual Drive Out Hunger event.
  • Education support – Invested $556,000 in education programs, including $193,000 in science, technology, engineering and math (STEM) initiatives such as the Iowa Governor’s STEM Advisory Council and the Wisconsin Science Festival.
  • Foundation grants – 266 grants to organizations focusing their programs on helping families, education and the environment. This included $460,000 in Wisconsin and $420,000 in Iowa.

Gas safety, excavation surveys starting

The Dieringer Research Group will be calling customers on behalf of Alliant Energy to gather information on the topic of natural gas and excavation safety. They will stress at the beginning of the call that they will not be asking questions about your utility bill or requesting money.

We are interviewing individuals who live or work next to an Alliant Energy natural gas pipeline.  If you would give us a few minutes to answer some questions, your opinions will help improve communications about natural gas safety for your community.

Timing for the surveys is:

Public/Emergency Officials interviewing starts March 8 or 9
Affected public interviewing starts March 12
Excavator interviewing starts March 14
All interviewing done April 24

Con artists are trying to scam customers

SCAM ALERT: Energy providers across the Midwest continue to get reports that con artists are trying to scam customers. The scammers claim to be from Alliant Energy and they threaten to disconnect utility service if the customer doesn’t immediately buy a prepaid credit card to make a payment.

Alliant Energy does not request immediate payment or prepaid credit cards. We do not threaten to disconnect service via text message. We recently began offering account alerts by text as an optional service. Customers must sign-up to receive them. They are informational only, providing reminders of when the bill is due.

If you receive a call like this:

STOP: Scammers are counting on people being too alarmed to verify their account status. Do not give in to high-pressure call tactics! Stop the conversation. Hang up the phone.

THINK: Chances are you do not owe the amount the scammers claim. You know your account status best. Think about whether the scammer’s claim about your account sounds true.

CALL: Call us to verify your actual account status. If you have a remaining balance, we can tell you the amount and when it is due. Let us put your mind at ease. You can reach us at 1-800-ALLIANT. You can also monitor your account online by visiting alliantenergy.com/myaccount or through Alliant Energy’s new Mobile App. Text ‘APP’ to 255255 and download now, or visit the Apple Store or Google Play.

Beware that scammers can spoof caller-ID displays, which means they can mask the call’s true origin and make it appear as if it the call is coming from a utility company.

Customers should report attempted scam contacts to local law enforcement.