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Given the $0.10 reduction in earnings due to unfavorable weather in the first half of 2024 , how confident are you in achieving your full-year earnings guidance, and what specific measures are you taking to offset further weather-related impacts?
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With the pending approval from the Iowa Utilities Commission on your rate review settlement , what are the potential risks if the individual customer rate construct is not approved, and how would that impact your agreements with new customers like data centers?
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As the two steam customer contracts are ending in 2025 , what impact will this have on your earnings profile, and what plans do you have to mitigate any potential negative effects on your financial performance?
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Considering the expansion of advanced ratemaking principles in Iowa to include energy storage and nuclear , how do you plan to utilize this for future projects, and can you address any previous confusion regarding its application to certain projects?
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You have reaffirmed your commitment to a 5% to 7% earnings growth target and a 2024 ongoing EPS guidance range of $2.99 to $3.13 , which assumes normal weather, cost controls, and timely regulatory approvals. What contingencies are in place if these assumptions do not hold, and how will you ensure the achievement of your financial targets?
Recent developments and announcements about LNT.
Financial Actions
- Extension of the facility termination date from December 18, 2028, to December 18, 2029.
- Renewal of each borrower's two, one-year extension options to further extend the facility termination date.
- Increase in the aggregate amount of lender commitments under the revolving credit facility from $1 billion to $1.3 billion.
- Increase in the sublimit for borrowings within the credit facility for Alliant Energy from $450 million to $600 million, for IPL from $250 million to $300 million, and for WPL from $300 million to $400 million.
- Increase in the aggregate amount of the uncommitted accordion under which each borrower may request further increases in lender commitments from $300 million to $700 million.
Debt Issuance
On December 18, 2024, Alliant Energy Corporation, along with its subsidiaries Interstate Power and Light Company and Wisconsin Power and Light Company, entered into a Second Amendment to their existing five-year master credit agreement. This amendment involves several key changes:
These changes represent a significant increase in the financial obligations of Alliant Energy and its subsidiaries, potentially affecting their balance sheet by increasing available credit and financial flexibility. However, the obligations under this amendment are several and not joint, meaning no borrower is liable for the conduct of any other borrower, and no borrower is a primary obligor, guarantor, or surety for the obligation of any other borrower under the Second Amendment .