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Interstate Power and Light Co. seeks regulatory approval for proposed Marshalltown Generating Station

Date : 11/15/2012 @ 4:00AM
Source : PR Newswire (US)
Stock : Alliant Energy Corp. (LNT)
Quote : 57.22  0.0 (0.00%) @ 6:38PM
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Interstate Power and Light Co. seeks regulatory approval for proposed Marshalltown Generating Station

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Interstate Power and Light Co. seeks regulatory approval for proposed Marshalltown Generating Station

CEDAR RAPIDS, Iowa, Nov. 14, 2012 /PRNewswire/ -- Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation, (NYSE: LNT), filed today with the Iowa Utilities Board (IUB) two applications seeking regulatory approval for construction of the proposed Marshalltown Generating Station (MGS) in Marshalltown, Iowa.

(Logo:  http://photos.prnewswire.com/prnh/20020405/LNTLOGO)

"Regulatory approval is the next step in the process to construct MGS," says Tom Aller, President - IPL. "The applications filed today demonstrate the need for MGS and how the proposed natural gas-fired generating station contributes to IPL's long-term energy resource plan. The energy resources plan balances the company's supply of energy resources, provides safe and reliable service and maintains competitive costs for the benefit of customers."

The complete filings are available on the IUB's electronic filing system. The filings are docket numbers GCU-2012-0001 and RPU-2012-0003.

IPL's application for generation siting certification (siting certification) must demonstrate that construction and operation of the MGS reasonably utilizes the state's land, air and water resources. Also, operation of the MGS must be consistent with the reliable electric operations of the utility and the Iowa Legislature's intent to spur Iowa's economic development.

The IUB's decision to grant a certificate for construction of the proposed MGS is contingent upon IPL receiving all necessary permits and regulatory approvals related to the proposed project.

IPL is also required to seek IUB approval of proposed ratemaking principles prior to investing in the project. Ratemaking principles are fixed for the life of the facility.

IPL expects to receive an IUB decision on its application for the siting certification and the ratemaking principles in the fourth quarter 2013.

IPL also expects to make related filings with the Minnesota Public Utilities Commission in the next 30 days.

In August 2012, IPL announced its long-term energy resources plan. The plan further balances IPL's supply of generating resources:

  • Approximate $440 million in investments to reduce emissions and increase efficiency of IPL's existing coal-fired generating units
  • Execution of a new nuclear purchase power agreement to purchase 431 megawatts of capacity and energy from Duane Arnold Energy Center
  • Approximate $650-$750 million investment, excluding AFUDC and transmission upgrades, for construction of the combined-cycle, natural gas-fired Marshalltown Generating Station
  • Continued commitment to renewable resources and energy efficiency.

More information about IPL's energy resource plan is available at www.alliantenergy.com.

This press release contains forward-looking statements. These forward-looking statements can be identified as such because the statements include words such as "plan," "approximate," "expects," or other words of similar import. Similarly, statements that describe future plans or strategies are also forward-looking statements. 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: state or federal regulatory actions or local government actions, including inability to obtain all necessary approvals and permits; current or future litigation, regulatory investigations, proceedings or inquiries that could impede the implementation of IPL's plans; changes to environmental regulations; changes to IPL's access to capital markets; political conditions in IPL's service territories; and economic conditions in IPL'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 IPL undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.

About Alliant Energy – IPL

Interstate Power and Light Company (IPL), based in Cedar Rapids, Iowa, provides electric service to 525,000 customers and natural gas service to 233,000 customers in more than 700 communities throughout Iowa and southern Minnesota. IPL is committed to providing the energy and exceptional service its customers and communities expect – safely, reliably, and affordably. IPL is a subsidiary of Alliant Energy Corporation, for more information, visit alliantenergy.com or call 1-800-ALLIANT (800-255-4268).

SOURCE Interstate Power and Light Company

Copyright 2012 PR Newswire



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