ALLIANT ENERGY CORP
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
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2. Regulatory Matters
NOTE 2. REGULATORY MATTERS
Regulatory Assets and Regulatory Liabilities -
Regulatory assets were comprised of the following items (in millions):
| Alliant Energy | IPL | WPL | ||||
|---|---|---|---|---|---|---|
| September 30,2025 | December 31,2024 | September 30,2025 | December 31,2024 | September 30,2025 | December 31,2024 | |
| Tax-related | $1,069 | $989 | $932 | $870 | $137 | $119 |
| AROs | 441 | 401 | 304 | 281 | 137 | 120 |
| Pension and OPEB costs | 301 | 315 | 151 | 157 | 150 | 158 |
| Assets retired early | 162 | 180 | 153 | 168 | 9 | 12 |
| Non-service pension and OPEB costs | 55 | 51 | 20 | 19 | 35 | 32 |
| Derivatives | 51 | 60 | 12 | 15 | 39 | 45 |
| WPL’s Western Wisconsin gas distribution expansion investments | 40 | 42 | — | — | 40 | 42 |
| Commodity cost recovery | 33 | 68 | 8 | 2 | 25 | 66 |
| Other | 151 | 168 | 52 | 74 | 99 | 94 |
| $2,303 | $2,274 | $1,632 | $1,586 | $671 | $688 | |
Assets retired early -IPL was previously allowed a full recovery of and a full return on the Lansing Generating Station from both its retail and wholesale customers. The IUC’s September 2024 order for IPL’s retail electric rate review for the October 2024 through September 2025 forward-looking Test Period included a return of the remaining net book value of Lansing, but did not include a return on the remaining net book value of Lansing, effective October 1, 2024. As a result, the return on the remaining net book value was no longer recoverable from IPL’s retail electric customers, and a pre-tax non-cash charge of $60 million was recorded to “Asset valuation charge for IPL’s Lansing Generating Station” in Alliant Energy’s and IPL’s income statements for the nine months ended September 30, 2024.
Regulatory liabilities were comprised of the following items (in millions):
| Alliant Energy | IPL | WPL | ||||
|---|---|---|---|---|---|---|
| September 30,2025 | December 31,2024 | September 30,2025 | December 31,2024 | September 30,2025 | December 31,2024 | |
| Tax-related | $658 | $582 | $301 | $286 | $357 | $296 |
| Cost of removal obligations | 351 | 347 | 206 | 205 | 145 | 142 |
| Derivatives | 49 | 53 | 25 | 29 | 24 | 24 |
| Other | 76 | 46 | 26 | 26 | 50 | 20 |
| $1,134 | $1,028 | $558 | $546 | $576 | $482 | |
Tax-related -The increase in Alliant Energy’s and WPL’s tax-related regulatory liabilities was primarily due to tax benefits resulting from investment tax credits recognized by WPL for certain energy storage facilities in 2025.
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