Interstate Power and Light Co. (IPL), a subsidiary of Alliant Energy Corp., plans to file a request with the Minnesota Public Utilities Commission (MPUC) to increase its Minnesota retail electric rates. IPL's request seeks to increase annual revenues by approximately $15 million, or 22%.
‘We are committed to helping Minnesota pursue a cleaner energy future with our investments in the Whispering Willow-East Wind Farm and power-plant-emission reduction controls,’ says Tom Aller, president of IPL.
IPL is requesting a return on common equity of 10.5% and a regulatory capital structure of 46.8% common equity, 41.9% long-term debt, 6.4% short-term debt and 4.9% preferred equity.
The MPUC has 60 days after IPL's filing to issue a decision on the company's request to implement interim rates. IPL anticipates implementing interim rates, if approved, in July. IPL has proposed an annual electric revenue interim rate increase of approximately $14 million, or 21%.
Interim rates will remain in effect until the MPUC issues a final decision on the company's electric-rate request, expected in the second quarter of 2011. If the final electric revenues approved by the MPUC are lower than the interim revenue levels, IPL will issue refunds equal to the difference between the interim and final rate levels, plus interest.
SOURCE: Alliant Energy Corp.
