Alliant Energy Corp. (LNT) said on Tuesday that its subsidiary Interstate Power and Light Co. received an oral decision from the Iowa Utilities Board, or IUB, regarding its request to increase its annual electric retail revenues.
In its oral decision, the IUB approved no additional changes to interim rates implemented in March 2009 which increased revenues by about $84 million or 8%. However, the IUB approved increased funding for transmission costs, as well as recovery of Sutherland Generating Station Unit 4 cancellation costs.
The IUB accepted the proposal presented by IPL and several interveners in the case to offset a portion of the 2008 and 2009 transmission costs with funds previously set aside from the sale of the company's transmission assets, rather than increase customer rates. In addition, the IUB approved using funds from the Regulatory Liability account from the sale of the Duane Arnold Energy Center to offset the recovery of costs associated with the cancelled Sutherland Generating Station Unit 4 project.
Interstate Power and Light expects that the written decision, which is expected to be issued by the IUB by January 19, 2010, will provide additional details concerning the revenue and rate design issues presented in the case.
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