The company said Alliant Energy and IPL concluded they will recognize a one-time charge for the three-month and six-month periods ending June 30, 2024, related to the non-unanimous settlement agreement for IPL's retail electric rate review, reached with the Office of Consumer Advocate and the Iowa Business Energy Coalition on June 20, 2024.

1. 01

   The company said Alliant Energy and IPL concluded they will recognize a one-time charge for the three-month and six-month periods ending June 30, 2024, related to the non-unanimous settlement agreement for IPL's retail electric rate review, reached with the Office of Consumer Advocate and the Iowa Business Energy Coalition on June 20, 2024.

2. 02

   The company said the non-cash pre-tax charge is about $60 million, resulting in an after-tax charge of about $45 million, or about $0.17 per diluted share.

3. 03

   The company said that as a result of the non-unanimous settlement, IPL concluded it is no longer probable that it will earn a return on the regulatory asset for the retired coal-fired Lansing Generating Station from its retail customers.

4. 04

   The company said the settlement with the Office of Consumer Advocate and the Iowa Business Energy Coalition is subject to approval by the Iowa Utilities Board, and final rates are expected to be implemented in late 2024.

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Original filing

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