CEDAR RAPIDS, Iowa, April 10, 2018 /PRNewswire/ -- Alliant Energy's Iowa customers will see savings this summer and into the future through lower federal taxes. As a result, customers will see lower costs for energy in Iowa.
For customers of Alliant Energy's Iowa energy company, the annual savings is expected to be nearly $75 million, including tax-related savings from Alliant Energy's transmission providers.
"These tax savings are great for our Iowa customers and the new, lower corporate tax rate will benefit our families, businesses and communities today and in the future," said Doug Kopp, President of Alliant Energy's Iowa energy company. "In the last six years, we've delivered about $500 million in other separate tax-related savings to customers, reducing energy costs."
Savings
- For typical residential electric customers, tax reform will result in an annual savings of $50-$60.
- For typical residential natural gas customers, tax reform will result in an annual savings of nearly $30.
Timeline
In March, Alliant Energy submitted an updated filing to the Iowa Utilities Board outlining savings for Iowa customers. If approved by the Utilities Board, electric and natural gas customers will see savings this summer.
About Alliant Energy
Alliant Energy Corporation's Iowa utility subsidiary, Interstate Power and Light Company (IPL), utilizes the trade name of Alliant Energy. The Iowa utility is based in Cedar Rapids, Iowa, and provides electric service to 490,000 retail customers and natural gas service to 220,000 retail customers. The employees of Alliant Energy focus on delivering the energy solutions and exceptional service their customers and communities expect – safely, efficiently and responsibly. Alliant Energy Corporation is traded on the New York Stock Exchange under the symbol LNT (NYSE: LNT) and is a component of the S&P 500. For more information, visit alliantenergy.com.
This press release includes forward-looking statements. These forward-looking statements can be identified because they describe future tax savings and include the word "expected." Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those currently anticipated, including state regulatory actions which could alter the proposed plans and federal tax regulatory actions. These factors should be considered when evaluating the forward-looking statements and undue reliance should not be placed on such statements. The forward-looking statements included herein are made as of the date hereof and Alliant Energy and Interstate Power and Light Company undertake no obligation to update publicly such statements to reflect subsequent events or circumstances.
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SOURCE Alliant Energy