Duane Arnold sale will save customers cash

12 October 2005

The proposed sale of the Duane Arnold nuclear plant will produce cash benefits to its Iowa customers, said majority owners Interstate Power & Light (IP&L).

Estimating the savings at $56 million between 2006 and the expiry of its current operating licence in 2014, the utility said the benefits include roughly $33 million in anticipated net proceeds and $23 million in lower anticipated customer rates over the next nine years than would be seen if IP&L continued to own the plant under the state's traditional ratemaking.

The sale of Duane Arnold Energy Center (DAEC) to FPL Energy is expected to close in the first quarter of 2006, the subsidiary of Alliant Energy added.

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