LNT · 10-Q · 2026Q3 · Full report

Data Center Load Growth

ALLIANT ENERGY CORP · 2026-10-30 · Importance 52 · Surprise 42 · In source text

In April 2026, IPL entered into an electric service agreement with a customer expecting to build a data center in IPL’s Iowa service territory, with contracted peak demand of approximately 370 MW. The timing and amount of any load increases depend on factors including interconnections and actual customer demand, and the agreement is not expected to produce immediate load growth. In October 2026, IPL filed with the IUC for approval of an individual customer rate for a data center expected to be constructed in its service territory, with a decision expected in the first quarter of 2027. Separately, the PSCW approved an individual customer rate for a customer constructing a data center in WPL’s Wisconsin service territory, subject to conditions including treatment of demand revenue through WPL’s retail electric fuel cost recovery mechanism before its next rate review.

Key facts

• In April 2026, IPL entered an electric service agreement for a data center expected in IPL’s service territory with contracted peak demand of approximately 370 MW; the actual timing and amount of load increases depend on factors including interconnections and actual customer demand.
• In June 2026, the PSCW approved an individual customer rate for a customer constructing a data center in WPL’s service territory, subject to conditions including routing demand revenue received before WPL’s next retail electric rate review through its retail electric fuel cost recovery mechanism.
• In October 2026, IPL filed an ICR approval request with the IUC for a data center expected to be constructed in IPL’s service territory; a decision is expected in the first quarter of 2027.
• Alliant Energy expects decreased Wisconsin and increased Iowa state income tax apportionment after a data center customer selected an IPL service-territory location in the first quarter of 2026, terminating and renegotiating its WPL service agreement with IPL.
• Alliant Energy, IPL and WPL expect future operating cash flow to increase from higher retail electric sales in 2027 driven by large load growth customers.
• Alliant Energy, IPL and WPL expect retail electric sales to increase in 2027 compared with 2026, driven by large load growth customers, including data center customers and other economic development activities.

Impact estimates