A decision yesterday by the Iowa Utilities Board threatens the future of the coal-fired power plant in Marshalltown. Alliant Energy was asking for a 12.5% return on investment, but the Iowa Utilities Board agreed to a 10% return.
From the Marshalltown Times Republican...
This decision puts Iowa one step closer to moving away from coal-fired power plants and investing in solar, wind, and geothermal power.
"Whether it could be a deal breaker, I don't know," said Ken Anderson, president of the Marshalltown Area Chamber of Commerce.
Tom Aller, president of Interstate Power and Light, a division of Alliant Energy, released a statement saying the issue will have to be carefully considered.
"The conditions placed by the IUB on the proposed hybrid power plant present a number of challenges in today's financial climate, and we are disappointed that this decision seemingly does not take that reality into account," he said. "We will continue to work with our partners to determine how today's decision will impact our respective companies' long-term generation plans."
Anderson said the situation was far from a done deal and there was still time for Alliant Energy to decide not to build the plant in Marshalltown.
"There's always the possibility this thing will stop," he said.