Alliant Energy (LNT) 3 Nov 232023 Q3 Earnings call transcript

Thank you for holding, and welcome to Alliant Energy's Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Today's conference call is being recorded. I would now like to turn the call over to your host, Susan Gille, Investor Relations Manager at Alliant Energy.

Good morning. I would like to thank all of you on the call and the webcast for joining us today. participation. your appreciate We today and Larsen, Executive COO; and here Lisa Vice and Barton, CFO. President and are me Chair John CEO; President With Robert Durian,

time and remarks community. we John, prepared questions Lisa Following will the by have to investment take from Robert,

release our a through last and night well referenced website dividend results, as and financial Energy's quarter announcing earnings XXXX. news release issued provided our XXXX the XXXX Alliant and presentation annual guidance narrowed Investor year-to-date earnings plan will earnings today's our We during of capital This is provided expenditure third and at on as available guidance page www.alliantenergy.com. range, be call

in answers begin, you actual forward-looking Energy's Securities to remind in include I issued obligation materially are make last statements. the These others, matters we disclaim forward-looking on to We to these be discussed to need and filings cause include, your among any and could update Those forward-looking to news risks release that statements different. Exchange Commission. our questions statements. Alliant we with risks night Before our subject results and remarks this call the

John. references this non-GAAP point, financial our I'll turn provided website. At to presentation The call reconciliation on measures. Form to between report quarterly this addition, the earnings In available is and our on contains are measures and GAAP non-GAAP in release XX-Q, over which the

operating I'm consistently We satisfaction everyone, we our of pleased growth target. and affirming year track report to narrowing range earnings another growth Good results. you for morning, to and XXXX, our on momentum, X% dividend and earnings that in to guidance earnings XXXX take today. X%. earnings guidance range our that are solid to objectives. Continuing and share turning I you, am Thank great achieving firmly pleased financial long-term Consequently, of our joining are Susan. thank for us we I'm delivering

X% which per increase a this earnings annual a XXXX midpoint increase $X.XX adjusted to XXXX our guidance stock and year's earnings share, represents X% our is is XXXX Our common target forecasted dividends. from dividend

We steady are focused predictable delivering and on results.

assumes headlines you on and last I I'd be saw journey with before but incredibly of week. them, news on record communities. been I'm confidence touch to the exceptional is Lisa's of customers Barton the stronger like Lisa and into well-established role to Directors, Board the Executive as I'm key to highlights to deliver continue our Energy this we and role track I the to of focus several success. Together that CEO. as have likely with consistent ability excited to Alliant the get our Alliant Energy's well Chairman an company XX have past have of with We quarter, of for complete and building further results moving positioned a continuing years purpose serving leader she that of to honored

Robert to Speaking that and details. purpose, of headlines Then it minutes provide share let X few me more proud from quarter I'll to over to pass of. a few I'm take a particularly that Lisa

commitment to with objective thesis, us guidance earnings positions achieve our why investor well execution The to makes results. our management The to exceptional deliver expectations. first Coupled the forward-thinking invest is XXth positioned our company. company core our you efficiency deliver to headline unwavering and well-executed our strong actions to consistently project consecutive strong cost put, centers costs investment team in on we rising Simply on for our and that year. took financing long-term choose mitigate

especially call. To million, exciting CapEx year. compared XXXX, announced X-year comments, benefits build continue through cover procurement the and take these Lisa our in efforts navigated diligently conditions. in Inflation details Reduction by $XXX of dedicated through highlights I'm who've on capital headline customer-centric the from work with the I second Act. economic of which challenging my last taking the almost will teams the plan our financial, enhanced advantage immense of earlier updated our pleased Our the to pride forecast to our investment team's increases investments we in later

reduce tax reducing cost are substantial We our greenhouse all while needs, advantage storage contracts gas our to of executing This emissions. of completion nearing wind, helps create generated energy our investments. for customers, savings solar zero resources cost fuel monetize and by our credits and financing taking us our

Now excited innovative let me we projects are two highlight about.

Iowa one-of-a-kind is This we setting half nearing solar serve completion celebrated operational concept at a to will and Agrivoltaics. State customer-hosted as be in to is First, our the Iowa the first solar advance farm project, expected of near first XXXX. which Iowa Ames, University of

We how State uncover to are innovative and the benefit. of for this and in Agrivoltaics' agricultural partnering University solar, research both Wisconsin Iowa research. coexist of farming can area harmoniously mutual is intended with land

near deliver compressing gas long-duration in Center Wisconsin; our of energy energy a energy liquid. be carbon United hour hours to project the XX capacity the XXX-megawatt at is Portage, The Columbia into project storage system will States. built second The storage project Energy dioxide storage first-of-a-kind by

of for particularly are the Citing this advantage us enables an hosted the interconnection. at the existing last Columbia has this built will facility our existing We community Energy excited in project project XX-plus same be grid take that to generating Center years.

support for Energy, $XX selected of million of to Our Energy Office was grant from the company this Department Clean project. a U.S.

innovation and showcases build and communities. us our projects how our partnerships exemplify both Importantly, forward-thinking efforts, stronger are helping purpose

with where customers Our made investments where the communities we live in are vendors. in and contractors backyard our our and partner local suppliers, serve we

and Please stages services. vital be recognize your we my service to harvest territory the farm call to to in and to and earth's of are the Now And reflect I'd conclude like harvest. And of our up weather the turn natural partnership. wrap safe, the farmers Their we Lisa, our positioning take before I'd job dedicated gas on purpose. for are moment later that success. in customers using appreciation to commitment to I'd to achievements resources farmers like our of unwavering families tremendous the season. as have us conditions underscores done all and commitment irrespective employees They strong a quarter. flowing lights over your our keep our you of for also as another the to Together, on to the I extend like efforts serving provide a

industry-leading to that purpose Energy, day and on Thank with day you, abundantly joining is and our its honor future and the Alliant entrusted It an this it Since delivers of has stewardship in clear John. been lives growth organization company. out. be

engagement to purpose ideas opportunity the drew our the and and recently me Janesville, alignment meet had table our is and Wisconsin what better was Alliant its to teams Energy. I brought In fact, the level organization's serve to customers. commitment to with frontline by the in with our struck of team

times, undergrounding greater facilities In know, reliability resiliency. facilities our with and level our to purpose notable build can their be employees we nature customers conversation, can actively the ideas terrain, be how sharing appreciated restoration located engagement can prioritize a They to, the the be serve lines system and customers and you were focus in example get our outages to undergrounding. I difficult are to by and restoration our on stronger were to goal and the our that of of connection avoided to equipment, and this specialized with communities. of due suggestions undergrounding backyards. overhead reduce factors these offering provide As the time-consuming, of the require to

both to company communities true team's in the consistent member customers privilege our role innovation Iowa to and why and as precisely on a Directors. it's take of and dedication passion across of is it Our and for of serve the to CEO Wisconsin. And Board serving a our is

XXXX. Across local in in serve. In creating we new valuable our successfully approximately generation ratemaking the an the ruling underscore we organization's to energy solar, gigawatts XXX Wisconsin, XXX new of fuel advanced and expand megawatts the for approximately online, In we addition X.X for communities I of forefront end our access to our ongoing grow a role CapEx would the by portfolio of with providing to like zero more communities security, diverse tax retail megawatts bringing with energy by investments XX% generation, the into mix. In set hand of our cost bring revenues of energy by projects the This of at our will transition energy to resources to investing year-end. we Iowa, solar going bringing customers resilient, of cleaner customers by in of we our expect to with are this Before customers and online. the and plan, planned was resources. will service generated in clean quickly jobs XXXX, continue by of providing be number energy renewable online supply clean solar being for

first our we County. made In storage our XXX will project the with quarter. be energy plans investments. commissioned approval storage in to during addition Grant our regulatory paired projects battery in third megawatts We in microgrid for secured in Wisconsin solar, and Wood of counties, Richland which strides great We solar

repurposing customers XX energy of to tax depend interconnection strengthen associated storage advantage resiliency facility our and a mix grid existing expenditures of of deliver with battery Edgewater capital storage In reliability. addition, additional our megawatts with the we secured essential projects John and site. the approval These mentioned, our generating credits are increase on. enhanced site to for take diverse performance reliability at tied brownfield the generation improve of These our investments portfolio, which a to

support through Wisconsin investments customers state Transmission in over the by repowering These underscores our enhancing increased to our wind Looking fleet, our benefits our our and have expansion bringing and savings forward, tax capital efficiency commitment refreshed the wind we American reflects Act. This expand of and years approximately XXX of to Reduction transmission grid next investments $XXX resources Company X expenditures Inflation megawatts plan resiliency million. to of dispatchable include generation legacy undergrounding. for the additional within plan

investments solid clean, a years portfolio. Our strong of be and future diverse resilient updated XXXX. through in our a our a XXXX next considerable base Approximately forecast resources through the the energy commitment capital contributes to in take XX% of X pride X% our reliable of investment our generation, for generation customer-centric balance rate will demonstration customers. We over in growth to

renewables invest planning will X-year to over the We continue period. in

greater and when additional engage plans recognize gas our adapt regulators resource also expenditures we needs. We update resource our transparent to needs. stakeholders capital continue changing for you adequacy we with plans XXXX, projects as will why see to to prior our process compared reliability This need and revise plans. In address is resource to MISO's to

of include improvements extreme gas and availability to resources, weather natural resiliency and investments new dispatchable plans and ensure during Our disruptions. fuels other capacity efficiency and

coal where the in units will be of both Wisconsin existing and improving capacity well our repurposing will on and efficiency in years. our Iowa X focus sites, retiring as next be Specifically, the as units

investing complement will resources flexible new, in and renewables. gas in We battery be natural storage to our investments

We reliability and to of gas to supply Wisconsin includes and will concerns electric Iowa resiliency exploring resiliency during LNG reliability in extreme technologies. also and gas invest natural address opportunities weather. both about This through storage in enhance

regulatory matters. to switching Now

the advanced appreciate XXX certainty process month, rate megawatts submitting look minimum test review. ratemaking provides. our IUB advanced filings Iowa, we year over of ROE life next the we additional remain year. Staying process the IUB's confident engagement of our in XX-year and First, following recently of to stakeholder the a forward approved decision ratemaking filed in regulatory the and forward Last XX.XX% We solar.

state mix, Wisconsin. a electric and our focus focuses future Iowa customers in cost-effective duration Our Robert rate deliver gave in to secure guidance is manage customers' for and the mind, of from to and fuel the gears The with increase. results, operating we PSCW on effect and few invest two-step our additional costs are gas January good call grid over to reliable, await energy impact coupled This procedural volatility. rate matters. now expenses, constructive to reduce a financial while the to strategize plans of maintenance on keeping the take modernization needs. sustainable, why to steadfast X. our fuel on more reducing meet is to decision ever-changing of outages, expected investments price believe to energy in insights rates top continuously have resilient the review making and the forward-looking asked into and value reason we the their provide to and starting lower for to proactive customer improve point The our communities. With turn safety, we we diverse our a staff schedule complete, energy a place the and new a the and measures regarding for number review We strategically PSCW will are and regulatory commission now decision. I testimony was Shifting

compared Yesterday, $X.XX we per morning, per Good quarter the of share of non-GAAP third earnings $X.XX Lisa. share in XXXX. announced third quarter everyone. Thanks, to

and change tax primarily recorded earnings expenses. offset year WPL year-over-year a higher by corporate Department adjustment Iowa and lower deferred charge nonutility Revenue for of higher values. due announced resulted tax These state to operations rate and quarterly partially which quarter non-GAAP X.X%. $X.XX the was current AFUDC operating to reform. investments Our rate In and state per interest September, positive of in third drivers is Iowa asset down X.X% the This of related from lower revenue from a our parent at current capital maintenance requirements tax to XXXX, related of the in change share were expense. The

pass from to enable last A state the taxes dollars corporate rate was millions to to our year decades change of adjustment This related lower Iowa quarter into us change the similar for future. on effective XXXX. recognized annual in Iowa's customers savings for will of third non-GAAP also in tax

of the per first net $X.XX share. per increased decreased temperature temperatures quarters of September $X.XX our by Alliant In year, earnings approximately Through X comparison, Energy's Alliant XXXX earnings Energy's for net this by share. impacts

Our temperature-normalized in states. changes are with same sales XXXX, period line no the in the two classes first across or X electric sales customer quarters our material the for through including tracking

and from lower strong Looking in offset Iowa year forward by and full projects expense. quarter and earnings the partially our solar fourth growth interest results, O&M, XXXX we Wisconsin to higher expect investments

$X.XX result a XXXX projected we through share. narrowed of quarter to As per our a and fourth to our solid have range of September guidance earnings per results, earnings $X.XX share

team financial We the the advance interest over controlling our our continued enable also objectives enhance long goals, only and invest purpose-driven of term. our aiming current customers, that year of XXXX, accomplish has while not During value customer in our to strategy our to ensure but costs. achievement best to strategically operational the customer we

retire generating transition As to our to fossil resources, our continue operating we to our costs. preparing reduce continue while renewables, we will fuel

highly production our expenses repowering customers solar for of of the anticipate base renewable offset value Additionally, for planned rate effective rendering with and and projects facilities, the tax our result we in the fuel new implementation cost This help and increased of commitment wind our will impact credits our for our customers. shareowners. long-term the benefits reduced investments these will long-term

benefits benefits our to Reduction thus renewable With federal include far on flows in enhanced executing for positioned credits, funding, credit success tax advancing and materially benefits our future to tax metrics needs. leveraging meeting capture Act. well be and new capital financing as well reduce the credit and Inflation added cash by which projects, additional requirements continue Expected monetize tax maximizing as opportunities to improved our and of applying we

we September, In generation plans. finance projects. completed to financing debt IPL our solar to at our successfully issuance $XXX a Moving million

have raising we equity. planned year, well equity are approximately for our on to Thus, we million new our this XXXX. common issued of in far, way so And $XXX $XXX million

our we through is combination plan look As cash robust future to capital tax financed proceeds a expected operations, credit monetizations new from from of financings, to and significant long-term including debt. investment be

equity request The the and of PSCW equity of the of in equity new debt programs capital to respective upon largely the layers equity Direct Finance, authority their Shareowner plans supporting layer. to PSCW We pending over at new Direct term, next long-term including to million our also equity our aggregate months the in plan, million planned debt through IUB in $XX ATM common from including new WPL's reviews. More WPL's million of increase to finance common our up through $X.X of XXXX, billion rate to grant whether $XXX authorized XX IPL's new $XXX the of of dependent plan anticipated approximately near at million approximately and increase $XXX for through common each future Energy IPL, future financing, up million of have billion is to common $XX year our levels up by plans equity equity equity in up include and $X new ATM programs. and structures Shareowner up common of Alliant common modest to only through our

in including million two have $XXX and also Finance million Energy We at Alliant debt XXXX, $XXX maturities at IPL.

In state. electric Finally, progress I'll decision end Wisconsin, oral highlight of And regulatory and each year. regulatory and third reviews our quarter in in we initiatives as by filings XXXX. Iowa, in to we as we expect order progress, by before of an those rate we have next plan well a in decision Thanksgiving anticipate a the in December. Currently, written the initiate gas

have pending proceedings two also in additional We Wisconsin.

We of our for our and Sheboygan increase by Neenah on decision capacity Falls and QX gas improvements are anticipating aimed generating request of efficiency, a units reliability the to end XXXX. the

a quarter, filed & the WEC West and megawatts XXX Riverside sell Gas to this of Energy Electric. an we Madison application In additional facility joint to

anticipating also of decision application by this on a are XXXX. We QX

energy energy energy planned enhance to the our we with These new resources expenditure regulatory make also filings needs. XXXX. include regulatory In innovative and our plan, requests filings dispatchable to Turning and additional for for to meet resources renewables storage diversify construction updated long-duration conjunction Wisconsin Wisconsin filings further capital in both by expect in John. and authority our in will reliability, customer mentioned Iowa

meeting We Finance continued of EEI and of at appreciate Conference. very many support the the with company our forward to much look you

time, question-and-answer advance to EEI. At back the updated the plan in operator to over this to turn call week, the Next post of the we website facilitate session. materials on I'll our

call the question of comes Campanella up the open [Operator to Instructions] will Nicholas company the time, this Barclays. from investment community. At questions first with the Durian. Mr. members Your you, from Thank

of I Richardson on here. Nick. Nathan couple questions just a It's had for actually

on little touched credit 'XX 'XX 'XX contribution the and tax I and wondering and the could appreciate over plan? any give color more opportunity I and the but if 'XX was into You bit, full maybe guidance, a the you X-year then

And us projects be require as for probably our as capital the need few to regulatory do think plans any the credit I'll a done think proceeds, think will needs equity look When that, the material we constructs, we storage. We of little largely we'll all tax those portfolio provides for and potentially about cases. some picture next able lot some common of Yes, $XXX for we capital tax plans. Where plans. with we those financing that credits, paid of equity the including of and bit well refresh tax through the XXXX, Nathan, well we're close the two the be to a that into kind of volume at rate of monetization we'll new as outcomes fund tax to structure capital with see cash monetize here those not projects to opportunities a be as specifically to able we've as upon be our at through given actually and finance financing debt. actually able flows is the with currently financing to the pending our in probably operations, monetization expenditure from for we the long-term look therefore, expenditure new along that credits generating credits utilities a as over solar be does the related the of that is wind averaging battery common dependent flexibility added to years our year million

probably the quarter before, So couple here hopefully next quarter, Iowa our I rate as We And next of indicated be that's sometime WPL case weeks. year. the third to decision decision of by second in the be seeing should determined.

it's those needs, insights to so will the And potential into equity us more as give equity any additional really that at two utilities. layers tied but

in just then how could embedded any maybe some in it. last load think 'XX. That's from some 'XX longer-term we to Midwest question what sales your you've growth assumptions? about the then of perspective Got my And super sales in have and wanted helpful. see been fiscal showing outlook fiscal is, I And year year a peers decline

seen been have steady bit interest. pretty has when going or largely we're 'XX would pretty here. We've with as see kept provide our development expectations from we've we'll planning we temperature economic do forward. a for line more, say, And load, we John some interest strong and our is in needed. this similarly But conservative, seen. we've Nathan, forecast that normalized here. if some a as updates pretty that great But materialize I

Bank Your of next question America. comes from Julien with Dumoulin-Smith

This is on Julien. for Dariusz

Just narrowed on to wanted the off providing XXXX Thank for you guidance. that update. start

line that that far you as sight the in a and the of to tracking year, there's Just can any November, wondering year. make for now where probably if be the within of end good if commentary might as of we're you balance the range

I is this the would midpoint. Yes, characterize Robert. that Yes, we're towards Dariusz, tracking

earnings characterize, quarter year We have $X.XX actually per quarter weather the in the $X.XX really what temperatures. I'd up picked milder seen, about third first back that in temperatures this down we our given some some cut but warmer share,

started so out quarter, we've actually the far, fourth weather temperature. favorable And some in with here

pretty So land and to we've guiding you. think what midpoint we'll been so the we're to actually that's close

event Okay. improved the ongoing. that of that and that. the range perhaps and -- any provided XXXX still looking then drivers see you the to you and the Excellent. to In Appreciate provided, or upside WPL the ahead you upper there, receive could certainly XXXX? equity appreciate did end for guidance you just is tracking process that the to And layer that

there's constructive here. 'XX, we capital of for into part now, for say would a that with certainly think and, I'd put and we're the say, 'XX. decisions we And guidance would range range very we execution right as four John filings different of really from comfortable Yes. regulatory management. pretty it's our sales, feel that range, in with guidance that I if there. as it solid but we tracking factors out our update mentioned, great get of cost Dariusz, you

recently year. certainly fairly sneak especially had our making towards rate case some outcomes, appreciate the Excellent. constructive but you settling as Okay. processes could one rate this If efforts rate filed, in advanced the Curious that case? IPL make comments with for more. any can if and you've on Obviously, I prospects

Yes, Dariusz, I'll handle question. it's that here. Lisa

So you rate reviews. respect have very with always we a as know, process to transparent our

Energy the Obviously, level request, both Iowa. to high that had two-step We continue digits. always, strong provides in that's in [ ask record Clean transparency. single of Blueprint going a settlements Our to as future. we've a cons this And had pros along a of going we balanced be track think But with the and of assess settlement we're ] the possible to the way. in

Okay. at we'll you in Excellent. it I'll a see about pass along, and guys EEI week.

Your with next comes from question Ross Fowler UBS.

And congratulations appointments. the on

you. Thank

Thanks, Ross.

So I'm of this bouncing between calls three -- sort morning. apologize, and I

the it's XX to and already that has sort and is this gas of it. apologize. was think just looking I plant? MISO renewables still do I the lower more sort by CapEx of supply around the really not to But and right? is -- renewable last I the refresh by responsive projects if of heard driven Like shift driven I You're over adding It's Lisa, through okay. gas So CapEx this being project your into we've some be being the say not been you asked to answered, here about than months responsive consternation seen chain investments,

here always it's stakeholders 'XX. we'll with and I talking correct. resource we're the a that account regulators use, very conditions you're Ross, and Yes, plans, constantly transparent be in process the changing MISO taking construct. we reviewing Again, into such our earlier of part mean, capacity as

around Robert, higher transferability, that, equity rate Okay. ratio your bit here get little a I given the expect And are the generation good I renewable is only you is need tax plan, pretty that tax underway. you then credit transferability that still from spending think you the equity at that regulated lower that heard utilities despite in regulated if a say cases currently

Yes, correct, that's Ross.

megawatts new repowering got XXXX We'll continuing and XXXX full so out of our to projects the As will will also that provide new vintage already us. into the megawatts, a planned solar building be battery us PTCs projects. megawatts wind X,XXX plans, XXX monetize. We've all the tax will of PSCW for reminder, have recent to been be to that CapEx projects put able we we've XXX of And approved have generating be credits. wind by that to be which produce for projects we've PTCs added that of

set robust the a credits monetize And of so tax still us X, for next years. over X to very

And then me. I around there's some here raise for still state. projects go-forward If profile some heard one last in your CapEx one energy that your some correctly, and filings initiatives could clean renewable

more forward, to So the think I about there's of looking still sort opportunity if an to add renewables plant.

Ross, here. John

I think what of I'd lot say, we've CapEx future opportunities. got a

Lisa noted, look us this thinking just capacity continuing But it So for would of more add as right resources sharing we while makes -- part sense of going. latter but the we're years, developments. renewables details future future for now, for but we're we're renewable we'll be of only to the Robert, not CapEx how of, X development about advance to kind future some where we to see our continue

see it soon you That's we'll Arizona. and once in And perfect, that's Congratulations me. again, John. for

Ross. Thanks,

Thanks, Ross.

question next Scotiabank. Weisel with from Andrew comes Your

Agrivoltaics, new that's one. a

see to to want both Lisa. just say I for First, congrats Great John of you. and to

first -- is Next question O&M. question my first -- my on

You've talked supposed to swing know about reduction. a a to the quarter. year-over-year X% X% of fourth in the lot come I was

can And here, maybe reaffirm on some how we're versus maybe thoughts that or refine Now you be much one-time? might sustainable that estimate?

talk that, the We here. when news John to is can but more that listening I in good want appreciate about going and about EEI. it's I'm really see I talk -- on timing, Robert at I let and to Agrivoltaics. you you This picking up

to over Robert you. So

kind XXXX, over opportunities adjectives to time we've as our achieve continue say, spend kind be would the I X of the Andrew, all years. we to Yes, evaluated for are and financial to looking to of able of XXXX

we that had advancing there XXXX, spend plans some result announced in fair the we expecting for some as reduce and of field that our costs focuses XXXX, including of our the find our a we through projects. to folks efficiencies to when opportunities a correct planning, for of continue in economic spend be thinking O&M in of And You're development a the on is were resource strategic able of lot we reduction of amount organization. out to technology

script also Lisa benefits with about side providing think efforts the our that a way generation nice some that reductions started program with story I retirement. some our result on under for We're of out us. are as Lansing the had her a talking undergrounding seeing she

sustainable we quarter half, it's say a what would XXXX. lower XXXX we're spend would I see anticipate end in expected the probably and that maybe for see half O&M we than in reductions from reductions. to we'll up mix, continuing So further fourth some strategic as But I characterize

Very good.

of I the Next, about on And called making, Iowa. the IUB do settlement, but any case approved rate kind solar you XXX why XX.XX% you talk rate for a Can megawatts ROE see XX.XX%. the to this? believe, the reduced? advanced read of of The under that through in was as result

Yes, Andrew.

And the from they in So base. is basically, have XX.XX% up that essence, the opportunity the IUB to there. said we would be, what did go

for to be to we're that going use So process pushing our XX.XX%. rate review

the was is decided the in of had for think -- do As rate was party one RPU anything that of review you respect that that not Iowa not in know, parties. all we part filing. with and We was settlement with anything place of the to this as indicative with

Iowa, are think the in opportunities settlements similar the to we've to continue to had history for in we So strong past. the settle that and history there

good. two-part questions. Very on equity, Then Okay.

XX points that is So And need. amount of you sensitivity, a you you looks first how WPL? for say Can -- some of the that like equity. every WPL? was million IPL Or might be of and that equity that? Robert, provide ratio basis just much all, $XXX did

Yes.

as that, the decision Andrew, in of think WPL will be So hopefully just seen the few that here weeks. next

And basis we've what stated our equity so, layer about guys, some is requested of a remarks, we as point Wisconsin. our in in in increase previous XXX

million. to So about that equates $XXX

$XX about for million points. every it's So XX basis

that? into am to of just too reading up", million $XX other then And than beyond? and helpful. Very 'XX "onetime you per step clarify, about equity Or are Okay. year far in I suggesting that

that's would utilize approximately in share to common That's Yes, year into they plan the be to plan shareowners million much dependent new how had and a that our historically, the $XX plan to decisions But just our what that upon want to future. of we keep in leverage issue equity. program. continuation our as able of to going we've a continue we direct to to

Perfect.

Looking forward to you seeing soon.

Your next with Securities. Alex from question comes Mizuho Mortimer

highlight helping benefit to transferability costs future. the you manageable while in keep financing So

forward today, compared higher for increased to think of and should the rate Given how in capital going magnitude future historical of plan longer levels? your requests a rate cases as announced we environment

Yes. for Alan. question, Thanks your

you or continue the rate push kind to if I'd that very at of increases for general what increases, to living kind say will, We cost increases of similar of like keep below.

and that been past that the we've over few continuing consistent So very, years, forward. we with would very see going

has been plays the affordability. into be that add, continue as fuel thing of I And plan, forward. going will resources one us zero much mind and would add is to to Affordability of top and very that for Alan cost we continue that part the

And Understood. in on slightly you larger case some making settlement as where we've with economic maybe opposed Wisconsin? policy-related How priority rate states do more the role seen other future are a it playing view proceedings cases. settle a the to goals and parties ones larger of challenging then to are in process

Lisa view opportunity constructive be very we a noted. both have as to it and Robert continuing as think I

table, any forward going continue but the in we As we we'll material file ability monitor. these, don't to very We bringing to in to to very, being see our forward. transparent settle look always change parties

I that thing our time. of to really stakeholders unique time. sense, IOUs year engage This little we in and that high before for Energy add of provides X is, five the bit an Blueprint was the at transparency a would ahead Clean level commission X opportunity again, the were And have

made little year. So challenging this that bit it a

Understood. seeing all you to Look forward soon.

Gille, this there no [Operator Instructions] are questions further at Ms. time.

for this available With follow-up call. to any on Energy, with Alliant concludes your A no thank website. free questions. me continued you our contact support more feel of questions, We will our and replay investor be

gentlemen, for thank participating today. disconnect this call concludes you for and that We your lines. conference and Ladies your please you ask