Alliant Energy Seeks Cost Recovery for Its Investments in Minnesota's Clean Energy Future

ALBERT LEA, Minn., May 3 /PRNewswire-FirstCall/ -- Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT), will file later this week a request with the Minnesota Public Utilities Commission (MPUC) to increase its Minnesota retail electric rates. IPL's request seeks to increase annual revenues by approximately $15 million, or 22 percent. Quantification of each of the key drivers of the case are detailed below:

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IPL is requesting a return on common equity of 10.5% and a regulatory capital structure of 46.8% common equity, 41.9% long term debt, 6.4% short term debt, and 4.9% preferred equity.

Interim rates

The MPUC has sixty days after IPL's filing to issue a decision on the company's request to implement interim rates. IPL anticipates implementing interim rates, if approved, in July 2010. IPL has proposed an annual electric revenue interim rate increase of approximately $14 million, or 21 percent.

Final rates

Interim rates will remain in effect until the MPUC issues a final decision on the company's electric rate request, expected in the second quarter of 2011. If the final electric revenues approved by the MPUC are lower than the interim revenue levels, IPL will issue refunds equal to the difference between the interim and final rate levels, plus interest.

Additional information for customers on the rate case is available at www.alliantenergy.com/minnesotarates. Documents relating to this filing can be found on the MPUC's Web site at www.puc.state.mn.us/PUC.

About Alliant Energy

Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and 412,000 natural gas customers. Providing its customers in the Midwest with regulated electric and natural gas service is the company's primary focus. Interstate Power and Light, the company's Iowa and Minnesota utility subsidiary, serves approximately 527,000 electric and 234,000 natural gas customers. Alliant Energy 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.

Alliant Energy Forward-Looking Statement

This press release includes forward-looking statements. These forward-looking statements can be identified as such because the statements include words such as "proposed," "expected," "anticipates," "believes" or other words of similar import. Similarly, statements that describe expected outcomes in the rate case filed with the MPUC 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 IPL's proposed rate increase;

-- IPL'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;

-- economic and political conditions in IPL'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 IPL undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.

SOURCE Alliant Energy Corporation