Alliant Energy Corporation (LNT): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage dynamique de la transformation de l'énergie, Alliant Energy Corporation apparaît comme une force pionnière, naviguant stratégiquement à l'intersection complexe de la production d'électricité traditionnelle et de l'innovation durable. En fabriquant méticuleusement une toile complète du modèle commercial, la société démontre une approche complexe pour fournir une électricité fiable tout en poursuivant de manière agressive des solutions d'énergie renouvelable. Des infrastructures éoliennes et solaires aux plates-formes de gestion de l'énergie numérique de pointe, Alliant Energy redéfinit la façon dont les services publics peuvent répondre simultanément aux demandes des consommateurs, stimulent les progrès technologiques et défendent la durabilité environnementale - faire de leur modèle commercial un modèle convaincant pour les entreprises énergétiques modernes.

Alliant Energy Corporation (LNT) - Modèle commercial: partenariats clés

Fabricants d'équipements d'énergie renouvelable

Alliant Energy s'associe aux principaux fabricants d'équipements d'énergie renouvelable pour soutenir son infrastructure d'énergie propre:

Fabricant	Type d'équipement	Contribution de la capacité
Vestas Wind Systems	Éoliennes	350 MW
Premier solaire	Panneaux solaires	200 MW
GE Énergie renouvelable	Composants d'éoliennes	250 MW

Régulateurs des services publics du gouvernement local et des États

La collaboration avec les organismes de réglementation comprend:

• Iowa Utilities Board
• Commission de la fonction publique du Wisconsin
• Commission des services publics du Minnesota

Développeurs d'éoliennes et solaires

Promoteur	Emplacement du projet	Capacité renouvelable
Énergie nextère	Iowa	500 MW
Invenergie	Wisconsin	300 MW

Fournisseurs de technologies d'infrastructure de grille

Les principaux partenaires technologiques comprennent:

• Siemens Grid Solutions
• ABB Power Grids
• Schneider Electric

Collaborateurs du réseau de charge de véhicules électriques

Partenaire	Bornes de recharge	Zone de couverture
Point de charge	150 stations	Iowa et Wisconsin
Evgo	75 stations	Centres urbains

Alliant Energy Corporation (LNT) - Modèle d'entreprise: activités clés

Génération et distribution d'énergie électrique

Capacité totale de production d'électricité: 5 420 MW en 2023

Source de génération	Capacité (MW)	Pourcentage
Gaz naturel	2,180	40.2%
Vent	1,670	30.8%
Charbon	1,240	22.9%
Solaire	330	6.1%

Développement d'infrastructures d'énergie renouvelable

Investissement en énergie renouvelable: 1,2 milliard de dollars en 2023

• Extension de capacité éolienne planifiée: 500 MW d'ici 2025
• Pipeline de projet solaire: 350 MW en cours de développement
• Projets de stockage de batteries: 100 MW prévus

Modernisation et maintenance de la grille

Investissement annuel sur les infrastructures: 680 millions de dollars en 2023

Zone d'infrastructure	Montant d'investissement
Mises à niveau de la ligne de transmission	240 millions de dollars
Technologie de grille intelligente	180 millions de dollars
Améliorations du système de distribution	260 millions de dollars

Service client et gestion de l'énergie

Base de clientèle totale: 965 000 clients électriques dans l'Iowa et le Wisconsin

• Plateformes de service client numérique: 3 systèmes intégrés
• Programmes d'efficacité énergétique: 12 programmes actifs
• Déploiement de compteur intelligent: 75% de la clientèle

Initiatives de durabilité et de réduction du carbone

Cible de réduction du carbone: réduction de 80% d'ici 2030

Stratégie de réduction du carbone	Année cible	Réduction projetée
Élimination des usines de charbon	2028	Réduction de 50%
Expansion des énergies renouvelables	2030	Réduction de 30%

Alliant Energy Corporation (LNT) - Modèle d'entreprise: Ressources clés

Infrastructure étendue de transmission électrique

En 2024, Alliant Energy Corporation fonctionne:

Métrique d'infrastructure	Quantité
Lignes de transmission totales	8 900 miles
Sous-stations électriques	345 sous-stations
Territoire de service	110 000 milles carrés

Installations de production d'électricité

Le portefeuille de génération d'Alliant Energy comprend:

• Énergie éolienne: 1 300 MW Capacité
• Énergie solaire: 450 MW Capacité
• Gaz naturel: capacité de 2 100 MW

Travail technique et ingénierie qualifié

Métrique de la main-d'œuvre	Données
Total des employés	4,200
Personnel technique	1,650
Expérience d'ingénierie moyenne	12,5 ans

Technologies avancées de gestion de l'énergie

Les investissements technologiques comprennent:

• Infrastructure de grille intelligente: 285 millions de dollars
• Systèmes de mesure numérique: déploiement à 98%
• Investissements en cybersécurité: 42 millions de dollars par an

Capital financier et capacité d'investissement

Métrique financière	Montant
Actif total	16,3 milliards de dollars
Dépenses en capital annuelles	1,2 milliard de dollars
Cote de crédit	A- (standard & Pauvre)

Alliant Energy Corporation (LNT) - Modèle d'entreprise: propositions de valeur

Alimentation électrique fiable et cohérente

Alliant Energy Corporation fournit de l'électricité à environ 1 million de clients électriques dans l'Iowa et le Wisconsin. La société maintient un taux de fiabilité des services de 99,9% avec un temps de panne annuel moyen de 76 minutes par client.

Aire de service	Clients électriques	Taux de fiabilité
Iowa	560,000	99.9%
Wisconsin	440,000	99.9%

Augmentation du portefeuille d'énergies renouvelables

En 2024, Alliant Energy s'est engagé à:

• Génération d'énergie renouvelable de 2 100 MW d'ici 2025
• 70% d'électricité sans carbone d'ici 2030
• Émissions de carbone net-zéro d'ici 2050

Source d'énergie renouvelable	Capacité actuelle (MW)
Vent	1,500
Solaire	600

Prix ​​compétitifs pour les services énergétiques

Taux d'électricité résidentielle moyens pour l'énergie alliante en 2024:

• Iowa: 0,12 $ par kWh
• Wisconsin: 0,14 $ par kWh

Engagement envers la durabilité environnementale

Investissement dans les initiatives de durabilité environnementale:

• 3,2 milliards de dollars alloués aux projets d'énergie propre
• Réduction des émissions de carbone de 80% par rapport aux niveaux de 2005

Solutions avancées de gestion de l'énergie numérique

Services et technologies numériques offerts:

• Couverture de compteur intelligent pour 95% des clients
• Application mobile avec suivi de la consommation d'énergie en temps réel
• Outils et ressources d'efficacité énergétique en ligne

Service numérique	Taux d'adoption des clients
Compteur intelligent	95%
Utilisateurs d'applications mobiles	68%

Alliant Energy Corporation (LNT) - Modèle d'entreprise: relations avec les clients

Portails de service à la clientèle en ligne

Alliant Energy fournit un portail de service client complet complet avec les fonctionnalités suivantes:

Caractéristique du portail	Métriques d'engagement des utilisateurs
Gestion du compte numérique	Plus de 687 000 comptes d'utilisateurs en ligne actifs à partir de 2023
Options de paiement des factures	Taux d'achèvement du paiement numérique 98,3%
Canaux d'assistance en ligne	Support client 24/7 avec un temps de réponse moyen de 12 minutes

Outils de gestion de l'énergie de l'application mobile

L'application mobile d'Alliant Energy offre des capacités de gestion d'énergie avancées:

• Suivi de consommation d'énergie en temps réel
• Recommandations d'économie d'énergie personnalisées
• Reportage et surveillance des panneaux

Métriques d'application mobile	Données de performance
Total des téléchargements d'applications	352 000 au quatrième trimestre 2023
Utilisateurs actifs mensuels	187 000 utilisateurs
Évaluation de satisfaction des utilisateurs	4.6 / 5 dans les magasins d'applications

Programmes d'engagement communautaire

Alliant Energy investit dans des initiatives axées sur la communauté:

Catégorie de programme	Montant d'investissement
Projets solaires communautaires	12,4 millions de dollars en 2023
Subventions à l'efficacité énergétique	3,7 millions de dollars distribués
Développement économique local	8,2 millions de dollars d'investissements communautaires

Consultations personnalisées en matière d'efficacité énergétique

Les services de gestion de l'énergie personnalisés comprennent:

• Évaluations d'énergie gratuites
• Recommandations d'économie d'énergie ciblées
• Consultations de mise à niveau d'efficacité personnalisées

Métriques de consultation	Données de performance
Consultations totales effectuées	42 500 en 2023
Économies d'énergie du client	Réduction moyenne de 18% de la consommation d'énergie

Facturation transparente et suivi de l'utilisation

Les systèmes avancés de facturation et de suivi fournissent:

• Répartition détaillée de l'utilisation
• Rapports de consommation d'énergie comparative
• Estimations de facturation prédictive

Métriques de transparence de facturation	Données de performance
Taux de précision de facturation	99.7%
Demandes de facturation des clients	Réduit de 42% via des plates-formes numériques

Alliant Energy Corporation (LNT) - Modèle d'entreprise: canaux

Plateformes de service client numérique

Alliant Energy fournit un service client en ligne via le portail MyAccount avec 428 753 utilisateurs enregistrés au T2 2023. La plate-forme numérique gère environ 67% des interactions du service client.

Métriques de plate-forme numérique	2023 statistiques
Total des utilisateurs en ligne	428,753
Taux d'interaction du service numérique	67%
Trafic mensuel moyen	237 456 visiteurs uniques

Centres de service à la clientèle locaux

Alliant Energy maintient 12 centres de service client physique à travers l'Iowa et le Wisconsin, desservant environ 1,2 million de clients.

• 6 centres de l'Iowa
• 6 centres du Wisconsin
• Interactions moyennes du client quotidien: 1 845

Applications mobiles

L'application mobile a téléchargé 214 567 fois avec un taux d'engagement mensuel actif de 73% en 2023.

Performance de l'application mobile	2023 données
Téléchargements totaux	214,567
Utilisateurs actifs mensuels	73%

Représentants des ventes directes

Alliant Energy emploie 246 représentants des ventes directes couvrant les marchés résidentiels et commerciaux.

• Équipe du marché résidentiel: 142 représentants
• Équipe de marché commercial: 104 représentants
• Coût moyen d'acquisition du client: 187 $ par nouveau compte

Site Web et outils de communication en ligne

Le site Web de l'entreprise reçoit 612 345 visiteurs mensuels avec un taux de récupération de 82%.

Métriques de performance du site Web	2023 statistiques
Visiteurs mensuels	612,345
Taux de récupération des informations	82%
Durée moyenne de la session	7,3 minutes

Alliant Energy Corporation (LNT) - Modèle d'entreprise: segments de clientèle

Consommateurs d'électricité résidentielle

Alliant Energy dessert environ 961 000 clients électriques à travers l'Iowa et le Wisconsin en 2023.

État	Clients résidentiels	Facture mensuelle moyenne
Iowa	526,000	$129.47
Wisconsin	435,000	$138.62

Entreprises commerciales et industrielles

Alliant Energy fournit de l'électricité à 143 000 clients commerciaux et industriels dans ses territoires de service.

• Le secteur commercial représente 18% des ventes totales d'électricité
• Le secteur industriel représente 22% des ventes totales d'électricité
• Dépenses en électricité annuelle moyennes pour les clients commerciaux: 24 500 $

Clients du secteur agricole

Les clients agricoles représentent 7% de la consommation totale d'électricité d'Alliant Energy.

État	Clients agricoles	Utilisation annuelle moyenne de l'électricité
Iowa	12,500	65 000 kWh
Wisconsin	8,200	55 000 kWh

Institutions municipales et gouvernementales

Alliant Energy dessert 450 clients municipaux et gouvernementaux à travers l'Iowa et le Wisconsin.

• Consommation d'électricité du secteur public: 12% du total des ventes
• Dépenses en électricité annuelles moyennes par client municipal: 87 600 $

Développeurs de projets d'énergie renouvelable

Alliant Energy s'est engagé à 1 400 MW d'énergie éolienne et 400 MW d'énergie solaire d'ici 2025.

Type d'énergie renouvelable	Capacité planifiée	Investissement estimé
Énergie éolienne	1400 MW	2,1 milliards de dollars
Énergie solaire	400 MW	650 millions de dollars

Alliant Energy Corporation (LNT) - Modèle d'entreprise: Structure des coûts

Investissements d'infrastructure de production d'électricité

Au cours de l'exercice 2022, Alliant Energy a investi 1,5 milliard de dollars dans le développement des infrastructures et les dépenses en capital. L'investissement en capital prévu de la société pour 2023-2027 est d'environ 6,3 milliards de dollars.

Catégorie d'investissement dans l'infrastructure	Montant (million de dollars)
Projets d'énergie renouvelable	652
Modernisation de la grille	398
Mises à niveau des actifs de génération	450

Dépenses de maintenance et de mise à niveau de la grille

Les dépenses de maintenance annuelles pour les infrastructures d'Alliant Energy ont totalisé 287 millions de dollars en 2022. Les coûts de mise à niveau GRID ont spécifiquement représenté 124 millions de dollars de ce total.

• Maintenance du système de transmission: 86 millions de dollars
• Mises à niveau du réseau de distribution: 38 millions de dollars
• Modernisation de la sous-station: 24 millions de dollars

Compensation et formation des employés

Les dépenses totales liées aux employés pour Alliant Energy en 2022 étaient de 493 millions de dollars, la formation et le développement de la main-d'œuvre représentant 18,2 millions de dollars.

Catégorie de compensation	Montant (million de dollars)
Salaires de base	312
Avantages	163
Formation et développement	18.2

Coûts de conformité réglementaire

Les frais de conformité réglementaire pour Alliant Energy ont atteint 76,3 millions de dollars en 2022, couvrant les réglementations environnementales, les normes de sécurité et les exigences de déclaration.

• Conformité environnementale: 42,5 millions de dollars
• Adhésion au règlement sur la sécurité: 22,8 millions de dollars
• Rapports et documentation: 11 millions de dollars

Recherche et développement des technologies vertes

Alliant Energy a alloué 35,6 millions de dollars à la recherche et au développement des technologies vertes en 2022, en se concentrant sur les initiatives d'énergie renouvelable et de durabilité.

Zone de focus R&D	Investissement (million de dollars)
Technologie solaire	12.4
Innovation d'énergie éolienne	15.2
Solutions de stockage d'énergie	8

Alliant Energy Corporation (LNT) - Modèle d'entreprise: Strots de revenus

Ventes d'électricité aux clients résidentiels

Pour l'exercice 2022, Alliant Energy a déclaré 3,06 milliards de dollars de revenus d'exploitation électrique de clients résidentiels de l'Iowa et des Territoires de service du Wisconsin.

Segment de clientèle	Revenus annuels	Nombre de clients
Iowa résidentiel	1,42 milliard de dollars	475,000
Residentiel du Wisconsin	1,64 milliard de dollars	525,000

Contrats d'électricité commerciaux et industriels

Les ventes d'électricité commerciale et industrielle ont généré 2,38 milliards de dollars de revenus pour Alliant Energy en 2022.

• Taux d'électricité commerciale moyen: 0,0982 $ par kWh
• Taux d'électricité industriel moyen: 0,0673 $ par kWh
• Total des clients commerciaux et industriels: 86 000

Ventes de crédit d'énergie renouvelable

Les ventes de crédits en énergies renouvelables ont contribué environ 42 millions de dollars aux revenus d'Alliant Energy en 2022.

Type d'énergie renouvelable	Valeur de crédit	Crédits totaux vendus
Crédits d'énergie éolienne	35 millions de dollars	720 000 MWh
Crédits d'énergie solaire	7 millions de dollars	140 000 MWh

Frais de service de gestion de l'énergie

Les services de gestion et d'efficacité de l'énergie ont généré 18,5 millions de dollars de frais de service en 2022.

• Audits d'énergie commerciale: 6,2 millions de dollars
• Programmes d'efficacité énergétique résidentiels: 8,3 millions de dollars
• Services d'optimisation de l'énergie industrielle: 4 millions de dollars

Contructure des infrastructures de grille et services

L'infrastructure de grille et les services connexes ont produit 55,7 millions de dollars de revenus supplémentaires pour 2022.

Catégorie de service	Revenus annuels
Location de ligne de transmission	32,4 millions de dollars
Services d'infrastructure de sous-station	23,3 millions de dollars

Alliant Energy Corporation (LNT) - Canvas Business Model: Value Propositions

You're looking at the core promises Alliant Energy Corporation makes to its customers and investors as of late 2025. These aren't just mission statements; they are backed by concrete capital plans and operational metrics.

Highly reliable and safe delivery of essential electric and natural gas service

Alliant Energy Corporation provides essential electric and natural gas service to its customer base, which includes nearly 1 million electric customers and 425,000 natural gas-only customers across its Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL) subsidiaries. The company positions itself among top performers for reliability, partly through infrastructure hardening efforts like undergrounding, where 28% of lines are underground to support reliability for generations. This focus on physical assets is supported by technology investments, such as the Advance Distribution Management System, aimed at reducing operating expenses through more efficient truck rolls.

Key operational statistics supporting reliability and service include:

• 28% of lines underground for enhanced reliability.
• Serving nearly 1 million electric customers.
• Serving 425,000 natural gas-only customers.

Commitment to clean energy transition, targeting 100% clean by 2050

Alliant Energy Corporation is actively executing its transition away from coal, with stated goals for greenhouse gas (GHG) reductions across its portfolio. The company has specific targets for GHG reductions, aiming for a 50% reduction by 2030 and 100% reduction by 2050, with a goal of being coal-free by 2040. To achieve this, significant capital is being deployed into cleaner resources. For instance, Alliant Energy Corporation completed 1,500 megawatts of solar generation investments in 2024, adding to its existing 1,800 megawatts of wind resources. Furthermore, more than 40% of the updated 2025-2028 capital expenditure plan is dedicated to investments in wind, solar, and energy storage.

The company is also proactively managing the Inflation Reduction Act benefits, having safe harbored 100% of the energy storage projects and 750 megawatts of the 1,200 megawatts of wind in its current plan through 2028 to preserve tax benefits.

Clean Energy Metric	Value/Target	Year
Coal-Free Target	100% Reduction in Coal Generation	2040
GHG Reduction Target	50% Reduction	2030
GHG Reduction Target	100% Reduction	2050
Solar Investments Completed (2024)	1,500 MW	2024
Existing Wind Resources	1,800 MW	Late 2025

Stable, predictable rates derived from a regulated asset base

The regulated nature of Alliant Energy Corporation's utility operations provides a foundation for stable earnings and predictable returns, which helps manage rate impacts for customers. The company's investment strategy is directly tied to growing this asset base. The projected compound annual growth rate (CAGR) for the rate base and investment is 12% for the period spanning 2025 to 2029. This growth is supported by an allowed Return on Equity (ROE) of 10.48%, based on the 2024 rate base average of $4.9 billion. To ensure visibility and minimize lag in cost recovery, the Wisconsin Public Service Commission approved a unanimous retail electric and gas rate review settlement covering 2026-2027.

Enabling significant economic development, like the 3 GW data center load

A major driver of Alliant Energy Corporation's near-term growth is securing large industrial load, particularly from data centers. Contracted data center demand has increased to 3 GW, which management notes implies an industry-leading projected peak energy demand growth of 50% by 2030. This growth is underpinned by a significant capital commitment; the 4-year capital expenditure forecast has been lifted by 17% to $13.4 billion to ensure resources are in place. One specific example is the electric service agreement (ESA) executed for the QTS Madison site, securing 900 megawatts of demand, which is part of a planned $10 billion investment by QTS Centers in Cedar Rapids.

The economic impact is clear in the investment figures:

• Contracted Data Center Demand: 3 GW.
• Projected Peak Demand Growth by 2030: 50%.
• QTS Madison ESA Capacity: 900 MW.
• QTS Planned Investment in Cedar Rapids: $10 billion.
• Increased 2026-2029 Capital Plan: $13.4 billion.

Energy efficiency programs to help customers manage costs

Alliant Energy Corporation offers programs designed to help customers directly manage and reduce their energy usage and costs. A multi-year pilot program studying real-time energy experience and device-specific insights, concluded in 2024, yielded tangible results: 4% total electric savings and a 10% reduction in peak demand for participating households. For commercial and industrial customers, the Strategic Energy Management (SEM) program focuses on instilling an energy-management culture for lasting savings. Specific rebates are also available for equipment upgrades; for instance, in Iowa, customers can receive $50 for recycling an older appliance. For combined heat and power projects, custom rebates can be calculated based on savings metrics like $0.10 per kilowatt-hour saved or $1.00 per therm saved.

Here are concrete examples of customer savings mechanisms:

Program/Incentive	Metric of Savings/Incentive	Value
Household Pilot Program (2024)	Total Electric Savings	4%
Household Pilot Program (2024)	Peak Demand Reduction	10%
Appliance Recycling (Iowa)	Incentive per Appliance	$50
Custom Rebate (CHP)	Per kWh Saved	$0.10
Custom Rebate (CHP)	Per Therm Saved	$1.00

Alliant Energy Corporation (LNT) - Canvas Business Model: Customer Relationships

Alliant Energy Corporation provides regulated energy service to approximately 1,010,000 electric and 430,000 natural gas customers across Iowa and Wisconsin as of the third quarter of 2025. This relationship is non-competitive within defined service territories, governed by state regulatory bodies like the Iowa Utilities Commission (IUC) and the Public Service Commission of Wisconsin (PSC).

Metric	Value (2025 Data)	Source/Context
Total Electric Customers	1,010,000	Q3 2025 Reported Customer Base
Total Natural Gas Customers	430,000	Q3 2025 Reported Customer Base
WPL Authorized Electric Rate Increase (2025 Test Period)	$60 million (annual base rate)	Wisconsin Rate Review Approval
IPL Proposed Electric Rate Increase (2025)	$124 million	Iowa Rate Review Filing Proposal
WPL Proposed Electric Rate Increase (2026)	5.4%	Wisconsin Rate Settlement Agreement
Authorized Return on Equity (Wisconsin)	9.8%	Wisconsin Rate Settlement Agreement

Digital self-service platforms are used for billing and usage monitoring, allowing customers to manage accounts online. Alliant Energy Corporation reserves the right to contact customers who participate in rebate programs for surveys to monitor and evaluate program performance.

Dedicated account management is in place for large commercial and industrial clients. This structure supports large load growth customers, such as the recently executed electric service agreement for 900 megawatts for the QTS Madison site, contributing to an expected 50% increase in peak energy demand by 2030.

Community engagement and local economic development support are executed through the Alliant Energy Foundation and employee volunteerism.

• Total contribution from the Foundation, employees, and retirees in 2024 was nearly $9.3 million.
• Over 80,000 volunteer hours were contributed in 2024.
• The second Community Grant cycle of 2025 awarded over $530,000 to 138 organizations across Iowa and Wisconsin.
• Total grants awarded by the Foundation to date in 2025 are nearly $1.3M with one grant cycle remaining.
• Workforce readiness grants and scholarships in the second 2025 cycle totaled over $348,000.

Alliant Energy Corporation offers energy efficiency and demand response programs, with rebate terms and conditions effective January 1, 2025, through December 31, 2025. The rebate amount will not exceed 50% of the equipment purchase price for qualifying purchases.

Program/Equipment Type	Incentive Amount (Iowa Example)	Applicable Sector
Heating & Cooling Air Source Heat Pump	$225 - $375/unit	Commercial, Industrial
LED Linear Replace Lamp Retrofits	$1.50 - $5/unit	Commercial, Industrial
Geothermal Heat Pumps	$900 - $1,200/unit	Commercial, Industrial
Appliance Recycling (Iowa)	Up to $50 per appliance	Residential/Business

For Wisconsin customers, free energy saving products are available at $0 cost.

The Commercial New Construction (CNC) program provides free energy design assistance for buildings over 3,000 square feet, with design team incentives paid to the building designer or architect to help offset participation costs.

Finance: review Q4 2025 capital expenditure forecast against the increased 4-year forecast of $13.4 billion by next Tuesday.

Alliant Energy Corporation (LNT) - Canvas Business Model: Channels

You're looking at how Alliant Energy Corporation (LNT) gets its energy and services to the people and businesses that need them across Iowa and Wisconsin. It's all about the regulated infrastructure and the digital front door.

Interstate Power and Light Company (IPL) utility subsidiary

The IPL subsidiary is the primary delivery mechanism for Alliant Energy Corporation's services across Iowa. This channel directly serves a substantial customer base through its regulated electric and gas networks.

Here are the key customer metrics for IPL as of the latest reported figures:

• Electric retail customers in Iowa: Approximately 500,000.
• Natural gas customers transported in Iowa: Approximately 230,000.
• IPL contributed 15,540,000 MWh in electric sales in 2024.
• IPL accounted for 64,715,000 Dths in natural gas sales in 2024.

Wisconsin Power and Light Company (WPL) utility subsidiary

WPL handles the delivery channel within Wisconsin, mirroring the structure of IPL but serving the Wisconsin customer base. This utility is regulated by the Public Service Commission of Wisconsin (PSC).

The scale of WPL's customer reach is significant:

Metric	Customer Count (Approximate)	2024 Sales Unit
Electric Retail Customers	500,000	17,489,000 MWh (Electric Sales)
Natural Gas Retail Customers	200,000	102,160,000 Dths (Gas Sales)

Overall, Alliant Energy Corporation provides regulated energy service to approximately 1 million electric customers and 430,000 natural gas customers across both IPL and WPL territories. The company's total assets stood at $22.7 billion at year-end 2024.

Physical electric transmission and distribution grid

The physical grid is the core asset for electric delivery. Alliant Energy Corporation is actively investing in this infrastructure to support growth, especially from large data center customers who now represent 3 gigawatts (GW) of contracted demand.

Capital deployment through these channels is aggressive:

• The 4-year capital expenditure forecast was increased by 17% to $13.4 billion.
• This investment supports a projected rate base and investment Compound Annual Growth Rate (CAGR) of 12% from 2025 to 2029.
• In 2024, the maximum summer peak hour demand was 5,638 megawatts (MW).
• The company is targeting 100% clean energy by 2050, with 44% of energy from renewable resources in 2024.

Natural gas distribution pipelines

Natural gas is moved through distribution pipelines to customers in primarily rural communities across Iowa and Wisconsin. These pipelines are essential for the gas delivery portion of the business, which saw total sales and transportation of 166,875 thousand of dekatherms (Dths) in 2024.

The regulated utility performance drives near-term financial expectations. For 2025, ongoing earnings guidance was narrowed to $3.17 to $3.23 per share, with the company trending toward the upper half of that range based on year-to-date results.

Online customer portals and mobile applications

Digital channels provide self-service access for account management, outage reporting, and usage analysis. Customers use the My Account portal at alliantenergy.com/myaccount for detailed data.

Features available through these digital channels include:

• Access to account balance and ability to pay bills.
• Reporting power outages directly.
• Viewing daily and hourly energy usage history for smart meter customers.
• Using the Energy Analytics tool to download usage data in CSV or XML formats.
• Setting usage alerts for specific consumption thresholds.

The 2025 annual common stock dividend target is set at $2.03 per share, and the 2026 target is $2.14 per share.

Alliant Energy Corporation (LNT) - Canvas Business Model: Customer Segments

You're looking at the core of Alliant Energy Corporation's regulated business, which is fundamentally about serving distinct energy consumption profiles across two Midwestern states. The customer base is segmented by usage type and geography, which directly influences infrastructure investment and rate case strategy.

The residential segment forms the largest volume of individual accounts. As of the third quarter of 2025, Alliant Energy Corporation provides regulated energy service to approximately 1,010,000 electric customers and about 430,000 natural gas customers across its utility subsidiaries, Interstate Power and Light Company (IPL) and Wisconsin Power and Light Company (WPL).

The business customer base is quite varied. It includes commercial businesses that focus on energy efficiency and cost management, and industrial customers who prioritize reliable power for their extensive operations.

A significant, high-growth segment is the large-scale data centers. Alliant Energy utilities now have 3 gigawatts (GW) of contracted peak demand from data centers. This new demand is substantial, representing a projected 50% increase in peak load demand by 2030 from the 2024 base of approximately 6 GW maximum demand. This data center growth fuels a projected electric sales compound annual growth rate (CAGR) of 9-10% from 2025 through 2030.

Alliant Energy Corporation's service territory is concentrated in the Midwest, specifically serving customers across large portions of Iowa and Wisconsin. The customer distribution between the two main operating companies is nearly balanced for electric service, though gas distribution varies.

Here's a quick look at the customer distribution by subsidiary as of late 2024/early 2025 data:

Segment Detail	Interstate Power and Light (IPL) - Iowa	Wisconsin Power and Light (WPL) - Wisconsin
Retail Electric Customers	Approximately 500,000	Approximately 500,000
Natural Gas Customers	Approximately 230,000	Approximately 200,000

The company also serves wholesale electricity customers in Minnesota, Illinois, and Iowa through IPL, and in Wisconsin through WPL.

You can see the breakdown of the total customer base below:

• Residential electric customers: Largest volume of individual accounts.
• Commercial businesses: Diverse energy needs, focus on efficiency.
• Industrial customers: High-load manufacturing operations.
• Data centers: New high-growth segment with 3 GW contracted demand.
• Geographic concentration: Customers located in Iowa and Wisconsin.

Alliant Energy Corporation (LNT) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Alliant Energy Corporation's operations as of late 2025, which are heavily weighted toward long-term asset investment and the associated financing costs. Honestly, for a regulated utility like Alliant Energy, the cost structure is dominated by the assets needed to keep the lights on and modernize the system.

High capital expenditures (Capex) for grid and generation modernization

Alliant Energy Corporation is executing on significant capital deployment, which forms a major component of its cost base through asset accumulation and future depreciation. The focus is clearly on clean energy and infrastructure resilience, especially given the accelerating data center demand in their service territories.

Here are the key capital investment figures shaping the cost structure:

• The 2026-2029 capital expenditure plan is set at $13.4 billion, focusing on renewables and clean energy.
• The preceding 2025-2028 capital plan was updated to $11.5 billion.
• This investment supports an expected 11% rate-base CAGR through 2028.
• The rate base plus construction work in progress is projected to grow from $15.3 billion at the end of 2024 to $22.9 billion by the end of 2028.
• More than 40% of the 2025-2028 capital expenditure plan is allocated to wind, solar, and energy storage projects.

This aggressive investment pace is reflected in the asset base growth, which you can see mapped out below:

Metric	Value	Period/Year
Total Capital Expenditure Plan	$13.4 billion	2026-2029
Total Capital Expenditure Plan	$11.5 billion	2025-2028
Rate Base + Construction Work in Progress	$22.9 billion	End of 2028 Estimate
Rate Base + Construction Work in Progress	$15.3 billion	End of 2024

Electric production fuel and purchased power costs

Fuel and purchased power are variable costs that fluctuate with energy demand and commodity prices. While specific 2025 fuel cost figures aren't explicitly broken out in the provided snippets, we know that operational expenses, which include these costs, were a factor in recent performance.

For context on the overall scale of operations:

• Alliant Energy Corporation's Total Revenue estimate for full-year 2025 is $4.23 billion.
• Total Operating Expenses for the fiscal year ending 2024 were $3.10 billion.
• In Q3 2025, earnings were impacted by higher generation costs from planned maintenance activities.

Interest expense from debt financing the $13.4 billion investment plan

Financing these massive capital plans requires substantial debt, which directly translates into interest expense. The Q1 2025 funding strategy indicated that 40% of the capital program was planned to come from new debt. The company also executed specific debt actions post-Q1 2025 to support investments, including $600 million in IPL 2035 senior debentures and $500 million in parent 2028 convertibles.

The impact of financing costs is already visible in recent results:

Expense Item	Impact/Amount	Period/Year
Interest Expense	$449 million	Full Year 2024
Financing Expense (Variance)	($0.04) per share negative impact	Q1 2025
Financing Expenses (Variance)	Higher	Q3 2025

You can see that financing costs are a material drag on earnings, even before the full impact of the 2026-2029 plan hits the balance sheet. Higher financing expense was noted as a drag on EPS in both Q1 and Q3 2025.

Operation and maintenance (O&M) expenses, including planned maintenance

Operation and maintenance (O&M) costs cover the day-to-day running of the utility system. These expenses are a core part of the Total Operating Expenses, which were $3.10 billion in 2024.

The most recent data points to upward pressure on these costs:

• Higher operational expenses, specifically increased generation costs from planned maintenance activities, contributed to the Q3 2025 earnings shortfall.
• Total Operating Expenses for the fiscal year ending 2024 were $3.10 billion.

Depreciation expense on a growing asset base

As capital expenditures are placed into service, the corresponding depreciation expense increases, which is a non-cash cost that still impacts reported earnings and cash flow planning. The growth in the asset base directly drives this cost higher.

Here is the historical and recent trend for depreciation:

Metric	Value	Period/Year
Depreciation Expense	$772 million	Full Year 2024
Depreciation Expense (Variance)	($0.06) per share negative impact	Q1 2025
Depreciation Expense (Variance)	Higher	Q1 2025

Higher depreciation expense was explicitly cited as a partial offset to EPS growth in Q1 2025. Finance: draft 13-week cash view by Friday.

Alliant Energy Corporation (LNT) - Canvas Business Model: Revenue Streams

You're looking at the core ways Alliant Energy Corporation generates its top line, which is heavily weighted toward its regulated utility operations in Iowa (IPL) and Wisconsin (WPL). The revenue streams are fundamentally tied to the ability of these subsidiaries to earn their authorized rates of return, which is a key assumption underpinning their 2025 guidance. For instance, drivers for Alliant Energy's 2025 ongoing EPS guidance include the ability of IPL and WPL to earn their authorized rates of return.

The regulated revenue is built on the volume of electricity and natural gas sold, plus the authorized rate increases that flow through to customers. For context on the scale of the utility operations, here's a look at the 2024 sales volumes:

Revenue Component	Subsidiary	2024 Sales Volume	Unit
Electric Sales Revenue	IPL	15,540,000	MWh
Electric Sales Revenue	WPL	17,489,000	MWh
Natural Gas Sales Revenue	IPL	64,715,000	Dths
Natural Gas Sales Revenue	WPL	102,160,000	Dths

The revenue base is also directly supported by regulatory approvals for capital investments. You can see the impact of these revenue requirements in the quarterly results. For example, in the second quarter of 2025, IPL recognized a $0.13 per share increase due to higher revenue requirements from its rate base growth, and WPL recognized a $0.06 per share increase for similar reasons. This is a direct flow-through of authorized cost recovery, so it's a very predictable part of the revenue stream, provided regulatory timelines are met.

Specifically, the authorized base rate increases that support 2025 revenue include:

• IPL Electric: Authorized annual increase of $185 million (covering Oct 2024 - Sep 2025 test period).
• IPL Natural Gas: Authorized annual increase of $10 million (covering Oct 2024 - Sep 2025 test period).
• WPL Electric: Authorized annual increase of $60 million (covering the 2025 forward-looking Test Period).

The third quarter of 2025 results showed that higher EPS was primarily driven by these increased revenue requirements from authorized base rate increases, reflecting ongoing capital investments in solar generation and energy storage. To give you a sense of recent sales activity, retail electric sales for Alliant Energy Corporation in the second quarter of 2025 were 5,926 thousand MWh, down slightly from 5,948 thousand MWh in the second quarter of 2024.

The Non-utility revenue stream, which comes from investments and other operations, is much smaller and more volatile, often showing up as a net loss on a per-share basis when factoring in financing costs. For the first quarter of 2025, Alliant Energy's Non-utility and Parent operations generated a GAAP EPS impact of $(0.08) per share. By the second quarter of 2025, this segment reported a GAAP EPS of ($0.10) per share, which was lower than the ($0.03) per share loss in the second quarter of 2024, primarily due to higher financing expenses and timing of income tax expense.

Alliant Energy Corporation has narrowed its full-year 2025 ongoing EPS guidance to a range of $3.17 to $3.23 per share, with earnings trending toward the upper-half of this range based on results through the third quarter. That guidance is the ultimate financial target derived from these underlying revenue streams. Finance: draft 13-week cash view by Friday.