DES MOINES, Iowa (AP) — Interstate Power and Light Co. has filed paperwork for regulatory approval for a new natural-gas fired power plant in Marshalltown.
IPL, a subsidiary of Wisconsin-based Alliant Energy Corp., on Wednesday filed applications for construction and ratemaking principles with the Iowa Utilities Board.
IPL President Tom Aller said regulatory approval is the next step in the process to construct the plant. It’s also required to seek board approval on the ratemaking principles prior to investing in the project.
Interstate Power and Light says it expects a decision from the board in late 2013.
The plant is expected to cost between $650 million and $750 million and won’t become operation before mid-2017. It’s part of Alliant Energy’s long-term plan to provide electricity for customers in Iowa and Minnesota.