LNT · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

ALLIANT ENERGY CORP · 2026-10-30 · Importance 32 · Surprise 24

For the nine months ended September 30, 2026, Alliant Energy electric utility revenues increased $123 million year over year, including increases of $44 million at IPL and $79 million at WPL. WPL’s higher revenue requirements contributed $88 million, reflecting its 2026 base-rate increase; lower IPL wholesale revenues from the expiration of its Southern Minnesota Energy Cooperative agreement reduced revenue by $36 million. Retail electric sales volumes rose 1% for the nine-month period, while retail gas sales volumes fell 5%, primarily due to temperature changes and lower industrial sales at IPL.

Key facts

• Alliant Energy and WPL expect electric and gas utility revenues to increase in 2027 compared with 2026, primarily due to increasing revenue requirements from utility investments.
• Alliant Energy’s retail electric sales volumes increased 2% for the three months and 1% for the nine months ended September 30, 2026, compared with the same periods in 2025.
• Alliant Energy’s retail gas sales volumes decreased 2% for the three months and 5% for the nine months ended September 30, 2026, compared with the same periods in 2025, primarily due to temperatures and lower sales to industrial customers at IPL.
• Alliant Energy and IPL wholesale sales volumes decreased for the three and nine months ended September 30, 2026, respectively, compared with the same periods in 2025, primarily because IPL’s wholesale power agreement with Southern Minnesota Energy Cooperative expired in 2025.
• Changes in bulk power and other revenues were largely offset by changes in fuel-related costs and therefore did not significantly affect Alliant Energy’s operating income.