Alliant Energy
29 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.
Customers
Suppliers
American Transmission Company (ATC)
depends on · 16% ownership interestATC Holdings is comprised of a 16% ownership interest in ATC and a 20% ownership interest in ATC Holdco LLC.Business (Item 1)
Also named by WEC
ITC Holdings (ITC)
depends onIPL and WPL do not own electric transmission service assets and currently receive transmission services from ITC and ATC, respectively.Business (Item 1)
Partners and platforms
U.S. Department of Energy Office of Energy Dominance Financing
depends on · approximately $3 billionnamed as a riskIPL and WPL have entered into conditional commitments with the U.S. Department of Energy Office of Energy Dominance Financing, formerly the Loan Programs Office, for loan guarantees of approximately $3 billion in aggregate and WPL has been selected for additional grants.Risk factors (Item 1A)
Midcontinent Independent System Operator (MISO)
subject tonamed as a riskMISO’s resource adequacy process establishing seasonal capacity planning reserve margin and capacity accreditation requirements, as well as additional changes to capacity accreditation, such as the direct loss of load methodology, impact how and when existing and new generating facilities such as IPL’s and WPL’s additional solar generation are accredited with energy capacity, and may require IPL and WPL to adjust their current resource plans, to add resources to meet the requirements of MISO’s seasonal resource adequacy process, or procure capacity whereby such costs might not be recovered in rates; legislation or regulation that imposes mandatory integrated resource planning requirements, or materially changes existing resource planning standards, could delay approvals, require revisions to resource plans, increase compliance costs, and impact our ability to timely meet demand for energy from commercial and industrial customers, including data centers; the impact of the lack of availability of existing and new generating facilities on our accredited capacity for such facilities pursuant to MISO’s seasonal resource adequacy process; IPL’s ability to achieve certain aggregate summer capacity factors under the consumer protection plan for its up to 400 MW of solar generation projects; the rates paid to transmission operators and how those costs are recovered from customers, including our ability to continue to use a transmission rider in Iowa; our ability to site, construct and recover costs for new natural gas pipelines; our ability to recover costs to upgrade our electric and gas distribution systems; the amount of certain sources of energy we must use, such as renewable sources; our ability to purchase generating facilities and recover the costs associated therewith; our ability to sell utility assets and any conditions placed upon the sale of such assets; our ability to enter into purchased power agreements and recover the costs associated therewith; the allocation of expenditures by transmission companies on transmission network upgrades and our ability to recover costs associated therewith; reliability; safety; the issuance of securities and ability to use other financing arrangements for our renewable energy projects; accounting matters; and transactions between affiliates.Risk factors (Item 1A)
Other companies
International Brotherhood of Electrical Workers Local 965
86%named as a riskAll of WPL’s bargaining unit employees are covered by the International Brotherhood of Electrical Workers Local 965 collective bargaining agreement, which expires May 31, 2026.Business (Item 1)
Capital expenditure program
approximately $13 billion over the next four yearsnamed as a riskWe have forecasted capital expenditures of approximately $13 billion over the next four years.Risk factors (Item 1A)
Sheboygan Falls Energy Facility
operates in · 347 MWSheboygan Falls Energy Facility - is a 347 MW, simple-cycle, natural gas-fired EGU near Sheboygan Falls, Wisconsin, which is currently leased to WPL through 2044.Business (Item 1)
Places
Iowa
operates in · approximately 505,000 and 230,000 retail customersAt December 31, 2025, IPL supplied electric and natural gas service to approximately 505,000 and 230,000 retail customers, respectively, in Iowa.Business (Item 1)
Hazards
Iowa windstorms (derecho)
operates innamed as a riskStorms and other natural disasters, including events such as floods, tornadoes, windstorms like the 2020 derecho in Iowa, blizzards, ice storms, extreme hot temperatures, extreme cold temperatures, fires, wildfires, solar flares or pandemics may adversely impact our ability to generate, purchase or distribute electric energy and gas or obtain fuel or other critical supplies.Risk factors (Item 1A)
Commodities and inputs
Wyoming Powder River Basin coal
depends on · all of the coalCurrently, all of the coal utilized by IPL and WPL is from the Wyoming Powder River Basin.Business (Item 1)
Natural gas
exposed to its pricenamed as a riskNatural gas market prices have been volatile in the past and could be volatile in the future due to additional future regulations, increased demand including due to new natural gas-fired generating facilities, increased liquified natural gas demand from foreign countries, limited global suppliers of natural gas, periods of extremely cold temperatures or disruption in supply caused by major storms or pipeline explosions.Risk factors (Item 1A)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Regulators
Federal Energy Regulatory Commission (FERC)
subject tonamed as a riskFERC has authority over IPL's and WPL's wholesale electric market-based rates.Business (Item 1)
Also named by AA, AEE, AEP, AM, AMRC, AR, ARES, ATO and 62 more
Pipeline and Hazardous Materials Safety Administration
subject tonamed as a riskWe are also responsible for compliance with new and changing regulatory standards involving safety, reliability and environmental compliance, including regulations under the Pipeline and Hazardous Materials Safety Administration, the Occupational Health and Safety Administration, the North American Electric Reliability Corporation and the Department of Homeland Security Transportation Security Administration.Risk factors (Item 1A)
Also named by AM, ATO, BKH, CHRD, CNX, CP, CRC, CRGY and 29 more
Public Service Commission of Wisconsin (PSCW)
subject tonamed as a riskWPL is subject to regulation by the PSCW related to its operations in Wisconsin for various matters including, but not limited to, retail utility rates and standards of service, accounting requirements, issuance and use of proceeds of securities, affiliate transactions, approval of the location and construction of EGUs and certain other additions and extensions to facilities.Business (Item 1)
Also named by WEC
Iowa Utilities Commission (IUC)
subject tonamed as a riskOur utility financial condition is influenced by how regulatory authorities, including the IUC, the PSCW and FERC, establish the rates we can charge our customers, our authorized rates of return and common equity levels, and the costs that may be recovered from customers.Risk factors (Item 1A)
Laws and programs
IPL retail electric base rate moratorium
subject to · through September 2029named as a riskRefer to “Rate Matters” in MDA for discussion of IPL’s retail electric base rate moratorium from October 2025 through September 2029 approved by the IUC in IPL’s most recent retail electric rate review.Business (Item 1)
IPL solar consumer protection plan
subject to · capped at $3 million in aggregate per yearnamed as a riskSurpluses or deficits will be capped at $3 million in aggregate per year.Business (Item 1)
Focus on Energy
subject to · 1.2% of its annual retail utility revenuesWPL contributes 1.2% of its annual retail utility revenues to help fund Focus on Energy, Wisconsin’s state-wide energy efficiency and renewable energy resource program.Business (Item 1)
One Big Beautiful Bill Act
subject tonamed as a riskThese changes may materially limit our ability to sell or transfer renewable tax credits at reasonable terms in future periods.Risk factors (Item 1A)
Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more
Inflation Reduction Act of 2022
subject tonamed as a riskRepeal or amendment of the Inflation Reduction Act of 2022, or portions of the Inflation Reduction Act of 2022, could have an adverse impact on our financial condition and results of operations, including, but not limited to, a material increase in customer costs, a material decrease in cash flows from operating activities, which could impact metrics used by rating agencies, and a negative impact on the economics of future planned renewable and energy storage projects.Risk factors (Item 1A)
Also named by ABBV, APD, ARE, BKH, DD, DHR, ELV, ENPH and 30 more
EPA Coal Combustion Residuals Rule
subject tonamed as a riskIPL and WPL have coal ash ponds at current and former EGU sites, and active and inactive CCR landfills, that are impacted by this rule.Business (Item 1)
Production tax credits
subject tonamed as a riskThe OBBB Act’s early termination of production tax credits for projects beginning construction more than 12 months after enactment may also limit our ability to qualify new facilities for future production tax credits.Risk factors (Item 1A)
EPA Effluent Limitation Guidelines
subject tonamed as a riskAlliant Energy, IPL and WPL are currently evaluating the final rule and are unable to predict with certainty future compliance impacts, including resolution of ongoing litigation; however, costs to comply with this rule could have a material impact on their financial condition and results of operations.Business (Item 1)
Wisconsin Utility Holding Company Act
subject tonamed as a riskProvisions of the Wisconsin Utility Holding Company Act may limit our ability to invest in or grow our non-utility activities and may deter potential purchasers who might be willing to pay a premium for our stock.Risk factors (Item 1A)
Also named by WEC
Clean Air Act Section 111(d)
subject tonamed as a riskThe final rule’s compliance requirements will be phased in beginning in 2030 and covers fossil-fueled EGUs that utilize steam boilers to generate electricity, including IPL’s coal-fired Ottumwa Generating Station, George Neal Generating Station, and Louisa Generating Station, WPL’s coal-fired Edgewater Generating Station Unit 5 and Columbia Units 1 and 2, and IPL’s natural gas-fired Burlington Generating Station and Prairie Creek Generating Station Units 3 and 4.Business (Item 1)
WPL electric fuel cost recovery
subject tonamed as a riskWe may not be able to pass on all of the changes in costs to our customers, especially at WPL where we do not have an automatic retail electric fuel cost adjustment clause to timely recover such costs and where electric fuel cost recovery may be limited if WPL earns in excess of its authorized return on common equity.Risk factors (Item 1A)
Iowa and Wisconsin renewable energy standards
subject toIowa and Wisconsin have renewable energy standards, which establish the minimum amount of energy IPL and WPL must supply from renewable resources.Business (Item 1)