MADISON, Wis., Jan. 5 /PRNewswire-FirstCall/ — Wisconsin Power and Light Company (WP&L), a subsidiary of Alliant Energy Corporation (NYSE:LNT) , will issue the first in a two-part credit for its natural gas customers in January or February. The first credit totals approximately $10.2 million. After an audit by the Public Service Commission of Wisconsin (PSC), the total credit amount is expected to be approximately $12.8 million.
The credit represents gas purchase savings from November 2005 through October 2006 and is the result of an innovative natural gas purchase plan WP&L developed to share natural gas purchase cost savings with customers. Customers get billed at market prices and to the extent WP&L is able to purchase gas for less than these market prices, the difference is shared between the company and its customers. This credit represents 80% of the customers’ share of those below-market purchases.
The natural gas purchase credit is based on customer usage over the individual credit audit period. Customers will see the first of the two-part credit on either their January or February bill. The credit is expected to be about $43.21 for the typical residential customer using approximately 800 therms per year.
“In addition to this credit, our natural gas customers received an average credit of $50 last year,” said Barbara J. Swan, president-WP&L. “We are pleased to share the savings from our prudent fuel purchasing decisions with our customers to help offset the costs of winter heating.”
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 453,000 electric and 179,000 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/ .