Alliant Energy Files 2010 Fuel Rate Case and 2011 Electric Rate Case

MADISON, Wis., April 30 /PRNewswire-FirstCall/ --Wisconsin Power and Light Company (WPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT), filed requests today with the Public Service Commission of Wisconsin (PSCW) to implement an electric rate adjustment based on year-to-date actual and projected fuel costs for the remainder of 2010 and to adjust its retail electric rates, effective January 1, 2011.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20020405/LNTLOGO)

In its first request, WPL is asking to recover $8.8 million or 0.9% from electric retail customers due to increased fuel costs. This fuel-only rate case was filed because actual fuel and purchased power costs through March of this year, combined with projections for the remainder of 2010, exceed the amounts currently recovered in base rates.  

The PSCW is expected to issue an interim order on the 2010 fuel-only increase request next month and will hold hearings prior to issuing its interim and final order in the fuel-only rate case.  The interim rate increase would remain in effect until a final order is issued.  If the amount collected in interim rates is greater than the final rates, customers will receive a refund with interest.  

In its second request, WPL is asking that the PSCW reopen its 2010 rate case to increase retail electric rates by $35.4 million or 3.6%, when compared to current rates that went into effect on January 1, 2010. The requested retail electric rate increase is limited to recovering costs associated with the construction and operation of WPL's Bent Tree Wind Farm, which is expected to be completed in early 2011, as well as net revenue credits that expire on January 1, 2011.

The amount of the requested electric rate increase is partially offset by forecasted declines in electric fuel and purchase power energy costs for 2011. WPL has requested no change in the return on equity, weighted average cost of capital, and the regulatory capital structure approved in Docket No. 6680-UR-117.  Quantification of each of the key drivers of the case are detailed below:

The 200 megawatt Bent Tree Wind Farm will be WPL's second owned and operated wind farm and will include 122 turbines located in Freeborn County, Minnesota.  WPL's first owned and operated wind farm – the 68 megawatt Cedar Ridge Wind Farm near Fond du Lac – began commercial operation in December 2008.

All rate changes must be approved by the PSCW after a thorough review of the data and after obtaining input from the public.  The approval process for the retail electric base rate increase is expected to take several months, with new rates becoming effective on or about January 1, 2011.  

Additional information for customers on the electric and fuel rate increase requests is available at www.alliantenergy.com/wisconsinrates.  Documents relating to this filing can be found on the PSCW web site at www.psc.wi.gov.

Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and over 412,000 natural gas customers. Providing its customers in the Midwest with regulated electric and natural gas service is the company's primary focus. Wisconsin Power and Light, the company's Wisconsin utility subsidiary, serves approximately 460,000 electric and 180,000 natural gas customers.  Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company's Web site at www.alliantenergy.com.

This press release includes forward-looking statements. These forward-looking statements can be identified as such because the statements include words such as  "expected," "plan," or other words of similar import. Similarly, statements that describe expected outcomes in the rate case filed with the PSCW or future plans or strategies 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:

-- state regulatory or governmental actions, and future regulatory proceedings, including regulatory decisions regarding WPL's proposed rate increase;

-- WPL's ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of operating costs, capital expenditures and deferred expenditures, the earning of reasonable rates of return and the payment of expected levels of dividends;

--unanticipated construction issues, delays or expenditures, including increased costs of labor, materials and equipment;

--failure of equipment and technology to perform as expected;

-- current or future litigation, regulatory investigations, proceedings or inquiries that could impede the implementation of WPL's plans;

-- economic and political conditions in WPL's service territory; and

-- the impact fuel and fuel-related prices and the effectiveness of continued cost control efforts and operating efficiencies.  

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 WPL undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.

SOURCE Alliant Energy Corporation