Alliant Energy to Sell Minnesota Electric, Natural Gas Distribution Businesses
Alliant Energy Corporation (NYSE: LNT) announced agreements today to sell its Minnesota electric and natural gas distribution businesses. The electric distribution business in the state will be sold to Southern Minnesota Energy Cooperative (SMEC), a combined group of 12 neighboring electric cooperatives. Alliant Energy's Minnesota natural gas business will be sold to Minnesota Energy Resources Corporation, a subsidiary of Integrys Energy Group, Inc.
SMEC and Minnesota Energy Resources currently serve customers adjacent to Alliant Energy's utility operations in the state. SMEC-member utilities currently serve nearly 135,000 electric customers and Minnesota Energy Resources provides natural gas service to approximately 214,000 customers in Minnesota. Alliant Energy serves 43,000 electric customers and 10,600 natural gas customers spread over a significant footprint of nearly 15,000 square miles in southern Minnesota. Alliant Energy's Minnesota operations represent less than four percent of the company's overall customer base.
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