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