Alliant Energy (LNT) Moves Forward With Rate Settlement
Zacks Investment Research | Sep 24, 2017 10:39PM ET
Alliant Energy Corp.’s (NYSE:LNT) Iowa Utility recently clinched a partial settlement agreement of its 2017 electric rate review. Per the proposed agreement, the total increase arising out this base rate review would be 8.6%.
Per the announcement, the filing would reflect overall revenue revision of $130 million annually.
On Apr 3, the company had filed its first rate review after six years. An interim base rate hike came into effect from Apr 13. The next hearing of the rate review is expected to come in effect on Oct 4, 2017, before the Iowa Utilities Board (IUB).
Rate Hike is Essential
A rate hike in general is not expected to encourage customers but it is an essential part of regulated structure to keep the investment in maintaining the quality of service going.Alliant Energy’s electric rate settlement agreement is a testament of its mission to provide clean and sustainable energy to customers.
Considering 2016 as the base year, the company aims to spend approximately $6.8 billion over the next three years. Further, the company’s growth prospects look attractive owing to strong state economies in its service areas and new electric generation capacity are compelling prospects for it moving ahead.
We expect the company to keep up the good performance on the back of a number of strategic initiatives undertaken by the company as it continues to meet customers’ evolving needs. Its efforts to strengthen power grid have also resulted in fewer and shorter outages along with enhancing service reliability.
Price Movement
Alliant Energy has advanced 3.8% in the last 12 months compared with 1.6% gain of its Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.