Company Overview of Interstate Power and Light Company
Interstate Power and Light Company, a public utility company, generates and distributes electricity; and distributes and transports natural gas primarily. The company operates through three segments: Electric, Gas, and Other. It generates electricity from coal, natural gas, wind, and oil; and purchases electricity from wholesale energy markets. The company provides utility services to incorporated communities. It is also involved in the generation and distribution of steam for customers in Cedar Rapids, Iowa. The company supplies electric and gas service to retail customers in various industries, such as food manufacturing, chemical, and paper industries in Iowa; and wholesale customers, inc...
Alliant Energy Tower
Cedar Rapids, IA 52401
Founded in 1925
Key Executives for Interstate Power and Light Company
Chairman and Chief Executive Officer
Chief Financial Officer and Senior Vice President
Chief Accounting Officer, Vice President and Treasurer
Senior Vice President, General Counsel and Corporate Secretary
Compensation as of Fiscal Year 2016.
Interstate Power and Light Company Key Developments
Interstate Power and Light Company Plans 500 MW of New Wind Capacity in Service by 2020
Oct 14 16
The Alliant Energy Corp. subsidiary Interstate Power and Light Company on Sept. 30 reached an agreement with certain parties regarding the rate of return, cost cap and other terms for its plan, announced in July, to add up to 500 MW of new wind in Iowa. To maximize use of a federal production tax credit for wind that expires in 2019, IPL plans for 250 MW to be in service by 2019 and the remaining capacity by 2020. IPL signed the agreement along with Iowa's Office of Consumer Advocate, or OCA, and attorneys representing large industrial customers under the Iowa Business Energy Coalition and the Large Energy Group. Environmental intervenors and Iowa's other large electric utility, MidAmerican Energy Co., took no position on the agreement. The settlement and agreement were not unanimous, however, because Iowa Natural Resources LLC opposed the 500-MW size cap included in the agreement. The company instead had proposed a 950-MW size cap, according to a joint motion that IPL filed Oct. 12 with the Iowa Utilities Board, or IUB. (Docket No. RPU-2016-0005) The settling parties filed a motion requesting that the board adopt the agreement. In addition to the size cap, the agreement allows an 11% rate of return on equity, or ROE, which is lower than IPL's initial proposal of an 11.5% rate of return but in line with the suggested rate from the consumer advocate. The Iowa Business Energy Coalition had proposed a 9% rate of return, according to the motion.
Interstate Power and Light Company and Wisconsin Power and Light Company Announce Management Changes
Sep 23 16
On September 22, 2016, Thomas L. Hanson, Senior Vice President and Chief Financial Officer of Alliant Energy Corporation, Interstate Power and Light Company and Wisconsin Power and Light Company announced that he will resign as Chief Financial Officer of Interstate Power and Light Company effective December 1, 2016 and will remain with the company as Senior Vice President until he retires effective December 31, 2016. The Board appointed Robert J. Durian as the company's Vice President, Chief Financial Officer and Treasurer effective December 1, 2016. Mr. Durian has served as Vice President, Chief Accounting Officer and Treasurer of the company since July 2016, Vice President, Chief Accounting Officer and Controller since July 2015, and Chief Accounting Officer and Controller since 2011. The Board appointed Benjamin M. Bilitz as the company's Chief Accounting Officer and Controller effective December 1, 2016. Mr. Bilitz has served as the company's Controller since July 2016 and its Assistant Controller since 2011.
Interstate Power and Light Company Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
Aug 2 16
Interstate Power and Light Company announced unaudited earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported GAAP earnings per share of $0.14 against $0.07 a year ago. GAAP income was $31.9 million against $16.5 million a year ago.
For the six months, the company reported GAAP earnings per share of $0.34 against $0.29 a year ago. GAAP income was $77.5 million against $64.0 million a year ago.
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