CEDAR RAPIDS, Iowa, March 29, 2005 (PRNewswire-FirstCall) — Interstate Power and Light Company (IP&L), a subsidiary of Alliant Energy Corporation announced that the company will file a request for a natural gas service rate change with the Iowa Utilities Board (IUB) on April 15, 2005. The request seeks to recover the costs of natural gas delivery system infrastructure investments made in Iowa over the last three years and general increases in the costs of providing safe, reliable and environmentally sound service to IP&L’s Iowa natural gas service customers.
The natural gas service rate case request will seek an annual overall average revenue increase of approximately $18.7 million (6.5 percent). The specific percentage impact upon customers’ total bill will vary by customer class and for transport customers. Transport customers purchase natural gas from other suppliers, but use IP&L’s distribution system to transport their gas supply.
IP&L’s natural gas service rate request will utilize a change in Iowa law enacted during the 2004 Iowa Legislative Session. The change in law grants utilities the option to implement interim rates ten days after the filing of the requested rate change with the IUB.
The interim rates, which will be implemented by IP&L on April 25, 2005 and are subject to refund, will remain in effect until the IUB issues a final rate case decision and approves the permanent rates. The natural gas service interim rates will reflect an overall average revenue increase of approximately $13 million (4.5 percent). The specific percentage impact upon customers’ total bills will vary by customer class and for transport customers.
“Our company is strongly committed to investing in Iowa’s energy infrastructure to benefit our Iowa customers says Tom Aller, President-IP&L. “These investments provide our Iowa customers with safe, reliable and environmentally responsible natural gas utility service, while advancing Iowa’s opportunity for long-term economic growth and enhancing our customers’ personal quality of life.”
About Alliant Energy Corporation [ www.alliantenergy.com ]
Alliant Energy Corporation is an energy-services provider with subsidiaries serving more than three million customers. Providing its customers in the Midwest with regulated electricity and natural gas service remains the company’s primary focus. Interstate Power and Light, the company’s Iowa utility subsidiary, serves 532,000 electric and 237,000 natural gas customers. Other business platforms include the international energy market and non-regulated domestic generation. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT.