Dive Summary:
- The Iowa Utilities Board has informally approved a power purchasing agreement between Alliant Energy's subsidiary Interstate Power & Light (IPL) and NextEra Energy's Duane Arnold nuclear power plant.
- Under the deal, IPL will buy 431 megawatts of energy from NextEra.
- The deal is effective Feb. 2014 and will run out Feb. 2025.
From the article:
"... 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."