Final report issued in management audit

CEDAR RAPIDS, Iowa, Sept. 27, 2012 /PRNewswire/ -- Interstate Power and Light Co. (IPL), an Alliant Energy company (NYSE: LNT) announced today that the Iowa Utilities Board (IUB) has accepted the final IPL management audit report. The audit, completed by Liberty Consulting Group, was initiated as part of the IUB's final order in the company's 2010 electric rate case proceeding.

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IPL believes the audit process and outcomes have been positive for the company and its customers.  "IPL has approached the audit as an opportunity to demonstrate that we operate in the best interest of our customers," said Tom Aller, President of Interstate Power and Light Company. "We are a solidly operated organization with excellent employees and a focus on our customer's needs. We believe these facts are clear in the findings of the audit report."

The company viewed the audit as part of its focus on continuous improvement. As such, IPL is reviewing the study's recommendations to determine those that will provide the greatest value to customers. In response to the audit, the IUB will require IPL file a progress report by April 1, 2013 and its initial status report by October 1, 2013.

"Just as was the case in the audit, our strategic plan continues our focus on the customer," added Aller. "To provide customers with safe, reliable, locally-produced power at the most competitive cost possible, we are moving forward to gain approvals for our generation resource plan – which includes a new purchase power agreement for nuclear power with Duane Arnold Energy Center in Palo, Iowa and construction of a new natural-gas fired generating facility in Marshalltown, Iowa."

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 Alliant Energy