Profile: Alliant Energy Corporation (LNT.N)

Alliant Energy Corporation, (Alliant Energy), incorporated in 1981, operates as a regulated investor-owned public utility holding company. The Company’s primary focus is to provide regulated electricity and natural gas service to approximately one million electric and approximately 400,000 natural gas customers in the Midwest through its two public utility subsidiaries. The primary first tier subsidiaries of Alliant Energy are: Interstate Power and Light Company (IPL), Wisconsin Power and Light Company (WPL), Alliant Energy Resources, Inc. (Resources) and Alliant Energy Corporate Services, Inc. (Corporate Services). IPL is a public utility engaged principally in the generation and distribution of electric energy and the distribution and transportation of natural gas in selective markets in Iowa and southern Minnesota. WPL is a public utility engaged principally in the generation and distribution of electric energy and the distribution and transportation of natural gas in selective markets in south and central Wisconsin. As of December 31, 2008, WPL supplied electric and gas service to 453,078 and 177,354 retail customers, respectively. WPL also provides various other energy-related products and services. Alliant Energy’s non-regulated investments are organized under Resources. Corporate Services provides administrative services to Alliant Energy and its subsidiaries.

Electric Utility Operations

Electric utility operations represent the largest operating segment for Alliant Energy, IPL and WPL. Alliant Energy’s electric utility operations are located in the Midwest with IPL and WPL providing electric service in Iowa, southern and central Wisconsin and southern Minnesota. IPL and WPL provide electric utility service to a diversified base of retail customers in several industries, with the largest concentrations in the food manufacturing, chemical (including ethanol) and paper industries. IPL and WPL own a portfolio of electric generating facilities located in Iowa, Wisconsin and Minnesota with a diversified fuel mix including coal, natural gas and renewable resources.

Coal is the primary fuel source for Alliant Energy’s internally generated electric supply. Internally generated electric supply from coal-fired generating facilities represented 55%, of IPL’s total sources of electric energy and 54%, of WPL’s total sources of electric energy during the year ended December 31, 2008. Alliant Energy owns several natural gas-fired generating facilities including IPL’s 565 megawatt, natural gas-fired Emery Generating Facility (Emery) and Resources’ 300 megawatt, simple-cycle, natural gas-fired Sheboygan Falls Energy Facility (SFEF). WPL has exclusive rights to the output of SFEF under an affiliated lease agreement. Internally generated electric supply from natural gas-fired generating facilities represented 3%, of Alliant Energy’s total sources of electric energy during 2008.

Gas Utility Operations

Gas utility operations represent the second largest operating segment for Alliant Energy, IPL and WPL. Alliant Energy’s gas utility operations are located in the Midwest with IPL and WPL providing gas service in Iowa, southern and central Wisconsin and southern Minnesota. In addition to sales of natural gas to retail customers, IPL and WPL provide transportation service to commercial and industrial customers by moving customer-owned gas through Alliant Energy’s distribution systems to the customers’ meters. Revenues are collected for this service pursuant to transportation tariffs. IPL and WPL maintain purchase agreements with over 40 suppliers of natural gas from various gas producing regions of the U.S. and Canada. The majority of the gas supply contracts are for terms of six months or less, with the remaining supply contracts having terms through 2010. IPL’s and WPL’s gas supply commitments are primarily market-based.

In providing gas commodity service to retail customers, Corporate Services administers a diversified portfolio of transportation and storage contracts on behalf of IPL and WPL. Transportation contracts with Northern Natural Gas Company (NNG), ANR Pipeline (ANR), Natural Gas Pipeline Co. of America (NGPL), Northern Border Pipeline (NBPL) and Guardian Pipeline (Guardian) allow access to gas supplies located in the U.S. and Canada. Arrangements with Firm Citygate Supplies (FCS) provide IPL with gas delivered directly to its service territory.

Non-Regulated Operations

Resources manages a portfolio of wholly-owned subsidiaries and additional investments through several distinct platforms: RMT, Inc. (RMT) (including WindConnect), Non-regulated Generation, Transportation and other non-regulated investments. RMT provides renewable energy services and environmental consulting and engineering services to industrial and commercial clients nationwide. RMT offers renewable energy services through its WindConnect segment, which provides siting, design, construction, and high voltage connection services for wind projects in the United States. RMT’s environmental consulting and engineering services include site remediation and restoration, air quality control, auditing/compliance management, facility siting and planning, and environmental construction. RMT also offers services through its SmartBurn segment, which focuses on the application of combustion science technologies to improve performance of coal-fired electric generating facilities and lower NOx emissions in the process.

Non-regulated Generation - manages Alliant Energy’s non-regulated electric generating facilities. Resources owns the 300 megawatts, simple-cycle, natural gas-fired SFEF near Sheboygan Falls, Wisconsin and leases it to WPL for an initial period of 20 years. Resources also owns the 300 megawatts, simple-cycle, dual-fueled (natural gas/diesel) NEF in Neenah, Wisconsin.