Alliant says retail power off 9% in April, forecasts a 5% decline for all of 2020

摘要

Alliant Energy said Friday its first-quarter 2020 operations were not significantly impacted by the coronavirus pandemic, but April saw all classes of its retail power sales decline by 9%, with a 13% decline in its commercial and industrial sales offset somewhat by a 4% increase in the residential sector. The company’s chief financial officer, Robert Durian, told analysts during its Q1 earnings conference call he was now expecting “a decline of 5% of Alliant’s overall retail sales this year.” Alliant’s utilities and corporate services operations generated 72 cents/share of GAAP earnings per share in Q1, an increase of 20 cents/ share year on year. The primary driver of the increase was higher rate bases for Alliant’s two utilities: Interstate Power and Light, which is active in Iowa, and Wisconsin Power and Light. A rate hike for IPL that had earlier been approved by the Iowa Utilities Board went into effect February 26. Nonetheless, in Q1, Alliant said: “These items were partially offset by lower electric and [natural] gas sales volumes largely caused by warmer-than-normal temperatures in early 2020 and higher depreciation expenses.”