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Friday, March 6, 2009

Alliant drops plans for Iowa power plant

From an article in The Business Journal:

Alliant Energy Corp. said Thursday that its Iowa utility, Interstate Power and Light Co., has canceled plans to construct the proposed coal-fired Sutherland Generating Station Unit 4 in Marshalltown, Iowa.

The company said in a press release that the decision was based on "current economic and financial climate; increasing environmental, legislative and regulatory uncertainty regarding regulation of future greenhouse gas emissions and the terms placed on the proposed power plant by regulators."

The decision follows Wisconsin regulators' denial in December of a proposed 300-megawatt expansion of the Nelson Dewey Generating Station by Wisconsin Power and Light Co., Alliant's Madison-based utility. The Public Service Commission of Wisconsin ruled that the $1.26 billion project was too costly when weighing it against other alternatives such as natural gas generation and the possibility of purchasing power from existing sources.

In a statement, Alliant Energy chairman, president and CEO Bill Harvey said the PSC's decision and the cancellation of the $1.2 billion-to-$1.3 billion Iowa power plant project "removes the option of adding new coal-based capacity to meet our customers' future energy needs."

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