Jan 24 (Reuters) - Alliant Energy Corp said on Wednesday that Iowa’s utility regulator has voted in favor of a proposed power purchase agreement between an Alliant subsidiary and NextEra Energy Inc’s Duane Arnold nuclear power plant.
Alliant unit Interstate Power and Light Co (IPL) submitted a filing to the Iowa Utilities Board in August last year seeking approval of the purchase agreement with NextEra.
Under the proposed purchase deal, IPL intends to purchase 431 megawatts of energy and capacity from NextEra through February 2025.
The board had reached an oral decision and instructed its staff to draft a written order, which is expected to be issued on or before Feb. 4, Alliant said in a statement.
The board also authorized IPL to recover costs of the new purchase agreement through the Energy Adjustment Clause when the new contract becomes effective in February 2014, after a current agreement expires.