On November 9, the Iowa Utilities Board (IUB) issued an order denying Alliant Energy’s advanced ratemaking application (RPU) to add 400 megawatts (MW) of solar energy generation and 75 MW of battery energy storage in Iowa.
We are disappointed with this decision and will be evaluating our next steps. We will continue our steadfast focus on serving our customers and building stronger communities.
The IUB’s order stated that we did not fully consider other long-term sources of electric generation, in addition to solar and battery energy storage. The decision doesn’t prevent us from moving forward with the projects outlined in our Clean Energy Blueprint. Rather, the order requires us to do additional analysis on alternate sources of electric supply for our customers prior to the IUB granting ratemaking principles.
Our Iowa Clean Energy Blueprint was announced in 2020 after a year-long process involving engagement with stakeholders, as well as a thorough evaluation of multiple energy portfolio options and future scenarios for our customers. Overall, we received positive feedback and support regarding our plans to cost-effectively add 400 MW of solar and 75 MW of battery energy storage in Iowa.
As outlined in our Clean Energy Blueprint, accelerating our transition to renewable energy benefits our customers and the communities we serve. Adding clean energy resources is a smart investment and ensures a diverse mix of reliable energy while enhancing the economic and environmental health of the communities we serve.
Renewable energy is cost-effective for customers and contributes to a cleaner environment. Renewable projects also act as an economic catalyst by creating jobs, providing revenue to communities and income to participating landowners, and attracting new businesses to communities throughout Iowa.
Led by our purpose-driven strategy to serve customers and build stronger communities, we will continue to work with the IUB, customers, communities and other stakeholders on any concerns or questions they have regarding moving forward with our plans. The transition to renewable energy requires a partnership between Alliant Energy, our customers and local communities.
Alliant Energy Corporation (NASDAQ: LNT) provides regulated energy service to 985,000 electric and 425,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public energy companies. Alliant Energy is a component of the Nasdaq CRD Sustainability Index, Bloomberg's 2022 Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com and follow us on LinkedIn, Facebook, Instagram and Twitter.