Company files applications for a generation facility siting certificate and ratemaking principles with Iowa Utilities Board –
Cedar Rapids, Iowa – November 14, 2012 – 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.
“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 MGS.
- Continued commitment to renewable resources and energy efficiency.
