The Iowa Utilities Board Tuesday approved the sale of Interstate Power and Light Company’s electric transmission lines to a Michigan company. Interstate Power is a subsidiary of Alliant Energy. Utilities Board spokesman Rob Hillesland says it was a 2-1 vote by the board approved the sale to a company called I.T.C.
Hillesland says board chairman John Norris voted against the proposal, saying I.P.L.had not made a significant case that the sale would be in the public interest. Hillesland says customers of I.P.L.will get refunds once the sale has gone through. He says there are costs associated with the sale of the transmission lines, and benefits that I.P.L.receives will go toward some of those costs, so customers won’t take such a hit from the costs being passed on.
Hillesland says I.T.C. specializes in transmitting power from the power plants and the could be a good thing for Iowa in the long term. Hillesland says one of the positive things about the sale is that "it could very likely result in improved, more reliable and more robust transmission in the State of Iowa in the future."
The sale agreement involves approximately 6,800 miles of transmission lines, substation facilities and transmission land rights, for approximately 750-million dollars. Interstate Power and Light serves 526,000 electric customers. For more information on the decision, go to the Iowa Utilities Board website .