IUB Approves Settlement in Alliant's IPL Nat-Gas Rate Case
The Iowa Utilities Board (IUB) has approved the settlement Interstate Power and Light Company (IPL), a subsidiary of Alliant Energy Corporation (NYSE: LNT) reached between the Iowa Office of Consumer Advocate (OCA) and the Iowa Consumers Coalition (ICC) in regards to IPL's natural gas base rate case filed in May 2012.
The IUB approved an increase in IPL's annual natural gas service revenue requirement of approximately $10.5 million and a ten percent return on common equity. The IUB approved a Cost Management Plan, proposed by IPL, which will use tax benefits to credit customer bills and mitigate any impact on base rates for a period of three years. New rates are expected to take effect in the first quarter of 2013.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.