MADISON, Wis., April 25 /PRNewswire-FirstCall/ — Wisconsin Power and Light Company (WP&L,) a subsidiary of Alliant Energy Corporation (NYSE:LNT) , yesterday received an oral decision from the Public Service Commission of Wisconsin (PSCW) on its application for fixed financial parameters and advance rate-making principles for its proposed Cedar Ridge Wind Farm. Cedar Ridge Wind Farm, the first generating facility application in Wisconsin filed in accordance with the provisions of the 2005 Wisconsin Act 7, is a proposed 60- to 99-megawatt wind farm project in Fond du Lac County, Wis. Act 7 allows Wisconsin utilities to request that the PSCW establish, in advance, the principal financial terms and conditions that will apply irrevocably to a new electric generating facility.
In its oral decision, the PSCW proposed an authorized return on common equity rate of 10.5%. “We are disappointed in the terms of the PSCW’s decision on ROE and we believe that the decision today is contrary to the intention of Wisconsin Act 7 to encourage investment in new generation, including renewable energy,” said William D. Harvey, Chairman, President and CEO of Alliant Energy. “WP&L will review the final order and communicate whether or not it intends to make the investment in accordance with the terms and conditions of the PSCW’s Act 7 decision.”
In addition, the PSCW’s decision on WP&L’s Certificate of Authority (CA) application to construct Cedar Ridge Wind Farm is expected in May 2007.
Alliant Energy is an energy-services provider with subsidiaries serving approximately 1 million electric and over 400,000 natural gas customers. Providing its customers in the Midwest with regulated electric and natural gas service is the company’s primary focus. Wisconsin Power and Light, the company’s Wisconsin utility subsidiary, serves 446,000 electric and 173,000 natural gas customers. Alliant Energy, headquartered in Madison, Wis., is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company’s Web site at http://www.alliantenergy.com/.
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Source: Alliant Energy Corporation