Alliant Energy plans to hold rates steady in Wisconsin
Proposal provides additional support and stability for customers during the public health crisis
MADISON, Wis. (May 1, 2020) – Alliant Energy (NASDAQ: LNT) customers in Wisconsin would see steady electric and natural gas rates into 2021 under a proposal the company filed today with the Public Service Commission of Wisconsin (PSCW). This proposal delays the periodic rate review the company otherwise would have filed this month, while providing additional support and stability for customers during the ongoing COVID-19 health crisis.
“While the pandemic continues to create uncertainty, we are doing all we can to keep supporting our customers and the communities we serve,” said David de Leon, President, Alliant Energy – Wisconsin. “Our filing today is a continuation of our ongoing efforts to maintain among the lowest rates in Wisconsin, while also safely delivering the services our customers depend on. Keeping rates steady is the sensible approach, and the right thing to do.”
When the health crisis first started, Alliant Energy began taking steps to help customers by waiving late fees and suspending disconnects for non-payment – ensuring stability. The company also made charitable donations, through its foundation, to several non-profit organizations in the state, including food banks, the American Red Cross and United Way organizations. More recently, Alliant Energy contributed to the Hometown Care Energy Fund, which helps customers with financial needs pay their utility bill.
While holding rates steady, Alliant Energy plans to bring two new projects into service that will benefit customers. The Kossuth Wind Project will start providing cleaner and lower-cost energy for Alliant Energy customers later this year, while the Western Wisconsin Gas Expansion project will meet customers’ growing needs for reliable gas services in time for the 2020-2021 heating season.
To support communities with their economic development initiatives and to control customer costs in the long-term, Alliant Energy is also moving forward with its Clean Energy Blueprint. The Blueprint outlines the company’s approach to accelerate renewable energy for Wisconsin customers.
“We’re taking care of today while continuing to look ahead and plan for tomorrow,” added de Leon. “Cleaner energy, including solar, is becoming increasingly cost-effective and creates reliable and sustainable benefits for customers and communities for years to come.”
The proposal, which is subject to review by the Commission, is available on the PSCW’s website in Docket 6680-UR-122. Alliant Energy looks forward to working with the Commission and stakeholders to get an expedited approval. Alliant Energy’s proposal brings the Kossuth Wind and Western Wisconsin Gas Expansion projects into rate base; however, those costs will be offset with credits. The proposal also makes other accounting adjustments to hold rates steady.
This press release includes forward-looking statements. These forward-looking statements can be identified because they include words such as “proposal,” “plans,” “will,” and words of similar import. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Actual results could be affected by such factors as: the inability to obtain regulatory approvals; availability or increased costs of equipment, commodities used in equipment, labor and real estate; unanticipated construction issues, delays or expenditures; failure of equipment and technology to perform as expected; adverse interpretation or enforcement of regulatory or permit conditions; current or future litigation, regulatory investigations, proceedings or inquiries that could impede the implementation of Alliant Energy's plans; political conditions in Alliant Energy's service territories; changes to Alliant Energy's access to capital markets; the direct or indirect effects resulting from the COVID-19 pandemic on sales volumes, margins, operations, the ability to complete construction projects, supply chains, customers’ inability to pay bills, suspension of disconnects, waiving of late fees applied to past due accounts, and economic conditions in Alliant Energy's service territory. These factors should be considered when evaluating the forward-looking statements and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and Alliant Energy and Wisconsin Power and Light Company undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.
Alliant Energy’s Wisconsin energy company, based in Madison, Wis., provides service to 480,000 electric and 195,000 natural gas customers. The company’s mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Alliant Energy (NASDAQ: LNT) is a component of the Nasdaq CRD Sustainability Index, Bloomberg’s 2019 Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com and follow us on LinkedIn, Facebook, Instagram and Twitter.