Alliant Energy Expects Subsidiaries To Incur One-Time Charge For Q2 And H1 Ending June 30, 2024, Related To Non-Unanimous Settlement Agreement Over Retail Electric Rate Review
Portfolio Pulse from Benzinga Newsdesk
Alliant Energy and its subsidiary, Interstate Power and Light Company (IPL), will incur a one-time charge of approximately $60 million pre-tax ($45 million after-tax) for Q2 and H1 ending June 30, 2024, due to a non-unanimous settlement agreement over IPL's retail electric rate review. This charge is related to the retired coal-fired Lansing Generating Station. The settlement is pending approval by the Iowa Utilities Board.
June 24, 2024 | 8:57 pm
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Alliant Energy (LNT) and its subsidiary IPL will incur a one-time charge of $60 million pre-tax ($45 million after-tax) for Q2 and H1 2024 due to a settlement agreement over IPL's retail electric rate review. This charge is related to the retired Lansing Generating Station. The settlement is pending approval by the Iowa Utilities Board.
The one-time charge of $60 million pre-tax ($45 million after-tax) will negatively impact Alliant Energy's earnings for Q2 and H1 2024. The charge is related to the non-unanimous settlement agreement over IPL's retail electric rate review and the retired Lansing Generating Station. The settlement is still subject to approval by the Iowa Utilities Board, adding an element of uncertainty.
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