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Federated and Nobles join other electric cooperatives in signing agreement to acquire Alliant Energy territory

September 11, 2013

In an effort to increase efficiency and aid in the service to consumers
If approved by regulators, residents in several area communities will become member-owners of the

not-for-profit cooperatives

In an effort to increase efficiency and aid in the service to consumers, Alliant Energy Corporation and the Southern Minnesota Energy Cooperative (SMEC) have signed an agreement for the sale of the Minnesota territory of Alliant Energy electric distribution service. SMEC is a group of 12 southern Minnesota electric distribution cooperatives which includes Nobles Cooperative Electric and Federated REA.

The transaction is contingent upon regulatory approval. Assuming the acquisition is approved by regulators, it is expected to close in 2014. The Minnesota Public Utilities Commission (PUC) will be going through the process to change from investor-owned to a cooperative.

“Our Minnesota customers will be part of utilities with a significant, long-standing presence in the state,” said Tom Aller, President of Alliant Energy’s Minnesota and Iowa utility. “We would expect long-term customer benefits from the efficiencies achieved by combining our customer base with those of the purchasing utilities.”

Alliant Energy serves 43,000 electric customers and 10,600 natural gas customers spread over a significant footprint of nearly 15,000 square miles in southern Minnesota. To read the rest of this article - pick up a copy of this weeks Fulda Free Press or subscribe to our eedition at http://eedition.fuldafreepress.net


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