Wind Power Helps Propel 25-Percent Increase in Net Income for Alliant Energy

Wind Power Helps Propel 25-Percent Increase in Net Income for Alliant Energy

Aug 06 - The Wisconsin State Journal

In spite of major problems related to severe spring floods in its Iowa service territory, Alliant Energy Corp. reported a 25 percent increase in net income in the second quarter over the same period last year.

And the Madison utility holding company's wind power development arm, WindConnect, is responsible for much of that.

Alliant, whose Wisconsin Power & Light subsidiary serves much of south-central Wisconsin, had $60.8 million in profits for the three months that ended June 30, or 55 cents a diluted share, on $827.4 million in revenue, up from $48.6 million in earnings, or 43 cents a diluted share, on $746.2 million in revenue for the 2007 second quarter.

Flooding in Iowa reduced earnings for the quarter by 7 cents a share and will pare another 8 cents a share from profits for the rest of the year, Alliant officials said.

For WPL customers, though, a refund is likely later this year. The utility said its fuel-related costs are not as high as expected, so some of the money from higher interim rates that have been collected since April will probably be returned to customers later in the year.

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