by Ben Nuelle LISTEN: money-matters-10-27-16
Iowa Utilities Board members approve an Iowa energy company’s wind expansion project.
Interstate Power and Light Company is working on a $1 billion project to expand wind energy in Iowa.
Don Tormey with the Iowa Utilities Board says the board approved the project Tuesday.
“What the board did is they issued an order approving a settlement with modifications for a new electric wind generation project that was proposed by Interstate Power and Light Company, or IPL is a subsidiary of Alliant Energy. That was approximately a $1 billion project known as the ‘New Wind Project’ which will allow IPL to expand its wind energy sources in Iowa by up to 500 megawatts.”
Tormey says the board takes a lot into consideration before making a decision.
“The board looks at all the evidence and testimony in the case to make their decision. That decision has to be based on conditions in Iowa code to improve advanced ratemaking principles for that project. The advanced ratemaking principles under Iowa code are found in Chapter 476.53. The board has to follow that process and code before they make their decision.”
The Board stated the ratemaking principles associated with the New Wind Project, as agreed to by the parties and modified by the Board, are reasonable, will reduce IPL’s reliance on fossil-fueled generation and position IPL to meet ongoing and future environmental mandates in a manner likely to benefit its ratepayers.