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Alliant May Build $700 Million Gas-Fired Plant in Iowa

Feb. 10 (Bloomberg) -- Alliant Energy Corp. may build a $700 million natural-gas fired power project in Iowa by 2016 as the company allows contracts to buy electricity from nuclear plants to expire.

Alliant won’t renew nuclear-power purchase agreements with Dominion Resources Inc. and NextEra Energy Inc. that expire in 2013 and 2014, respectively, Ryan Stensland, a spokesman for Madison, Wisconsin-based Alliant, said in a telephone interview today. Alliant currently has power purchasing agreements with Dominion’s Kewaunee and NextEra’s Duane Arnold nuclear plants.

“The only uncertainty with building the plant is whether we can get a better deal for our customers through other means,” Stensland said. A final decision on the Iowa power plant is expected by the middle of the second quarter, said Stensland.

Alliant is seeking bids by March 22 for outside power supplies.

To contact the reporter on this story: Benjamin Haas in New York at bhaas7@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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