The paragraph is about Alliant Energy's Year End 2024 Earnings Conference Call. Susan Gille, the Investor Relations Manager, introduces the call and mentions that Lisa Barton, President and CEO, and Robert Durian, Executive Vice President and CFO, will present prepared remarks. They will also take questions from the investment community. A news release with the financial results and 2025 earnings guidance was issued the previous night, and related materials are accessible on their website. The call will include forward-looking statements subject to risks, as highlighted in the news release and SEC filings. Additionally, ongoing earnings per share, a non-GAAP financial measure, will be discussed, with reconciliations available in the earnings release on their website.

The paragraph discusses the company's financial and operational achievements in 2024 and outlines their strategic priorities for the future. Non-GAAP adjustments were made including charges related to asset valuation, employee restructuring, asset retirement, and tax reforms. Lisa Barton highlights the company's solid performance, ongoing EPS growth aligning with long-term targets, and continuous dividend increases for 21 years. The company expanded its renewable energy capacity with new solar investments and maintained its leadership in owned renewables. A new electric rate review construct in Iowa will stabilize rates for customers and support the company's economic growth.

The paragraph discusses a framework for supporting economic development and community growth by investing in energy resources and utilizing an individual customer rate (ICR) construct in Iowa and Wisconsin. It highlights a significant milestone of securing agreements for up to 1.9 gigawatts of data center load at a site in Cedar Rapids. The company plans to file two ICR contracts for Iowa data centers, ensuring benefits for customers and shareholders. The text also mentions supportive legislation in Iowa, including Governor Kim Reynolds's recent bill, which aims to fast-track economic development and encourage diverse energy solutions by facilitating non-contested integrated resource plans and adjusting advanced rate-making policies.

The Wisconsin legislature has implemented a sales and use tax exemption for data centers to spur investment and growth in the sector. As part of these efforts, a new data center has purchased land in Beaver Dam, Wisconsin. The company is focused on economic development in Iowa and Wisconsin, which has resulted in attracting investments, creating jobs, and building infrastructure to support long-term community growth. In alignment with these goals, they updated their capital expenditure plan in 2024 to include energy resource investments for data centers. They now have clarity on an additional 800 megawatts of data center load and plan to integrate this demand into their updated resource supply and financing plans, details of which will be disclosed in their Q1 2025 earnings release. Their strategy includes using a mix of existing capacity, new generation, and demand response to meet these needs, thereby increasing energy sales.

The paragraph discusses Alliant Energy's strategy to enhance grid stability and manage customer rates by expanding its sales and investments. With a focus on quick market entry and leveraging existing resources, the company sees growth opportunities through its 16% interest in American Transmission Company and MISO transmission investments. Although earnings impacts from these investments are expected post-2030, Alliant is committed to strengthening the energy grid, reducing outages, and expanding capacity using cost-effective technologies. The CEO reflects on a successful first year, lauding the team's dedication to strategy execution and recognizing engineers for their vital contributions during National Engineers Week.

The paragraph expresses gratitude to the company's generation team and line crews for their commitment to delivering reliable energy. It then transitions to Robert Durian discussing the financial results, noting a rise in 2024 earnings to $3.04 per share from $2.82 in 2023, reflecting over 6% annual growth over a decade. The earnings increase was driven by higher revenue from capital investments, despite facing higher depreciation, financing expenses, and lower AFUDC. The company offset negative impacts from mild temperatures on energy sales by leveraging higher tax benefits and reducing O&M expenses by $30 million. A 5% workforce reduction through a voluntary separation package was completed in 2024 for future cost savings. Additionally, the winter of 2024 was one of the warmest on record in their service area and the US.

In 2024, Alliant Energy's earnings were negatively impacted by temperature changes, reducing earnings by $0.15 per share compared to a $0.06 reduction in 2023. Despite mild temperatures affecting margins, electric sales to residential and commercial customers exceeded expectations due to meter growth, though sales to certain industrial customers declined. The company maintained cost-effective customer bills, with retail electric rates rising by only 2% and 1% for IPL and WPL, respectively, and natural gas rates dropping by 10% compared to 2023. Alliant Energy achieved these results despite implementing base rate increases and was awarded $80 million in grants and secured $3 billion in conditional loan guarantees to support future clean energy projects.

The paragraph outlines the company's financial strategies and achievements, highlighting an increase in 2024 cash flows by $300 million, primarily due to tax credits and improved infrastructure investment recoveries. It discusses investment alignment with projected capital expenditures and affirms the 2025 earnings guidance of $3.15 to $3.25 per share, based on a long-term earnings growth target of 5% to 7%. Additionally, the company plans to update its 2025-2028 financing plans alongside the next capital expenditure update in the following earnings call. The approach focuses on smart investments, cost control, and favorable regulatory outcomes to support financial stability and growth.

The paragraph outlines ongoing and planned regulatory activities by Alliant Energy. They have four active dockets with the Public Service Commission of Wisconsin for projects enhancing reliability and resiliency, including investments in wind farms, tax credits, and a new energy storage project. Two filings are in progress with the Iowa Utilities Commission for a new data center rate in Cedar Rapids and a gas generator station. Additionally, they plan to file for a Wisconsin retail electric and gas rate review for 2026-2027 and future filings in Iowa and Wisconsin for renewable resources. The paragraph concludes with a transition back to Lisa Barton for closing remarks.

The paragraph is from a transcript of a company earnings call, where Lisa Barton discusses the company’s focus on sustainable growth and creating shareholder value. She mentions efforts in economic development, adapting regulations, and responsibly growing with their customers. Barton expresses pride in the company’s foundation for 2024 and thanks supporters before opening the floor for a Q&A with the investment community. Shahriar Pourreza from Guggenheim Partners asks about a new data center in Wisconsin and a CapEx update expected next quarter. Barton responds that more details will be available in Q1, providing clearer insights.

The paragraph revolves around a discussion about the Cedar Rapids and Wisconsin facility projects, with a focus on phase one and phase two developments totaling 1.9 gigawatts. Lisa Barton and Shahriar Pourreza discuss capital expenditures and shifting project focus towards generation over distribution based on community needs. They also touch on the involvement of data center customers QTS and an unnamed company. Nicholas Campanella from Barclays inquires about financing strategies for additional capital expenditures, particularly the equity needs associated with them.

In the paragraph, Robert Durian discusses the company's strong balance sheet and improved cash flows, noting a significant 35% increase in cash flow from operations in 2024 due to tax credits and base rate increases. He mentions plans to finance new capital additions with 45-50% equity and the rest through debt. Durian is optimistic about future tax credit monetization, driven by renewable energy projects. When asked about a Wisconsin rate review, he indicates that the primary drivers are rate base additions, without much deviation from prior cases.

The paragraph discusses recent developments in energy projects approved by the Public Service Commission of Wisconsin, including solar, battery storage, and natural gas facility improvements. These projects will influence rate-based additions and are partially offset by fuel cost savings and tax benefits. Key issues include return on equity and capital structure as they prepare for a presentation to the commission. Julien Dumoulin-Smith from Jefferies raises questions about the reliance on tax credits for renewable energy projects, specifically concerning safe harboring and ensuring continued access to these credits to maintain the integrity of their energy plan.

In the conversation, team members express their pride in their progress and strategy regarding renewable energy and battery storage projects, aiming to secure these resources well into 2025. They've started construction and made down payments on several projects, ensuring most projects are safeguarded against future uncertainties. The team is confident with their permitting activities since their projects typically avoid public lands. They've been proactive in managing their market positions to handle current industry challenges. Additionally, they highlight their experience in "safe harboring" initiatives. Julien Dumoulin-Smith inquires about the timeline to achieve a projected capacity increase, referencing a plan to expand capacity to around 2.9 gigawatts from the current 2.1 gigawatts, as indicated in a presentation slide.

In the paragraph, Lisa Barton discusses Alliant's strategy to attract data center customers by being competitive and resource-balanced. They are actively pursuing opportunities and converting sites like Edgewater and evaluating others in Columbia. The goal is to be the first choice when data centers are looking for locations. Andrew Weisel from Scotiabank asks if Big Cedar is fully booked, to which Barton confirms, and inquires about their capacity to handle additional customer demand at sites like Beaver Dam. Barton emphasizes their focus on economic development to attract customers and ensure mutual benefits. More details will be shared in Q1.

The paragraph is a discussion about the flexibility in resource planning in the context of proposed legislation related to integrated resource planning. Lisa Barton explains that their resource planning process is adaptable and allows for filings at any time to meet customer and community needs. The proposed legislation is seen as neutral because it requires plans not to extend beyond five years, which aligns with their approach of filing plans as necessary. Barton notes that their previous resource planning offered flexibility by considering low, medium, and high scenarios, and they can file a new plan whenever needed to support economic development. The conversation is part of a dialogue between Andrew Weisel and Lisa Barton, with Weisel asking questions about the company's planning flexibility and its implications for working with fast-moving sectors like hyperscalers and data centers.

In the paragraph, Andrew Weisel asks Robert Durian about the proposed legislation related to advanced rate making, which has been somewhat unpredictable in the past. Durian explains that historically, advanced rate making was used for renewable energy and large natural gas projects, but recent legislation in Iowa has expanded it to include battery storage and nuclear, and has lowered the gas requirement to 40 megawatts. This approach allows for greater flexibility in meeting new customer demands and supports economic development in Iowa. The company is optimistic about the legislative process and hopes to utilize this flexibility soon. After this discussion, Paul Fremont from Ladenburg congratulates the speakers on their good quarter and asks about potential regulatory structures similar to Iowa's in other locations.

The paragraph discusses the structures and challenges of electricity rate constructs in Wisconsin and Iowa, especially for large data centers. Lisa Barton explains that Wisconsin has a biennial forward-looking construct which provides stability, unlike Iowa where adjustments occur less frequently, every four years. Paul Fremont inquires about potential legislative changes in Iowa to introduce a flexible rate structure that could aid in attracting large energy users. Lisa Barton and Robert Durian elaborate on the individual customer rate construct in Iowa, mentioning that it allows customization of contracts and requires approval from the IUC. The proposed legislation seeks to expand this flexibility further to attract new large energy customers.

The paragraph is a segment from a conference call discussing Alliant Energy's plans to expand services and offer flexible rates to more customers, including those beyond the current data centers. During a Q&A session, Paul Fremont inquires if the additional energy generation being added will exclusively be renewable. Lisa Barton responds that the generation will include both renewable sources and gas. The operator then indicates there are no further questions, and Susan Gille concludes the call, mentioning that a replay will be available and thanking participants for their support. The operator ends the call, asking attendees to disconnect their lines.

This summary was generated with AI and may contain some inaccuracies.