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ALBERT LEA, Minn. – Surrounded by Alliant Energy power lines and generators leaders of three power companies gathered to announce the news.
Alliant is officially selling their Minnesota electric and natural gas distributions to a group of local companies.
“This particular overture was made a number of months again now, it all sort of fell together and it really did make sense for all the parties,” said Tom Aller, President of Alliant Energy in Minnesota and Iowa.
“You look at how their territory aligns with our existing service territory intertwines with all 12 electric co-ops that are banding together to purchase this so from an economy scale standpoint it really made a lot of sense,” said Jim Krueger.
Jim Krueger is President of Freeborn-Mower Co-op, and says after the purchase, they’ll be growing from 6,000 customers to around 21,000.
And they’re not alone; Minnesota Energy Resources will be growing, too, by buying Alliant’s natural gas.
“Good for our customers, I think we will be able to continue to provide the safe reliable gas service they know from Alliant. It’s good for our employees because we have growing employment opportunities, and it’s also good for our shareholders, so we think this is a good deal for everyone,” said Barbara Nick, President of Minnesota Energy Resources.
And you might be thinking what does this mean for customers?
Well according to Alliant Energy they shouldn’t see much of a change.
“From the day we close, to the next day when it’s owned by somebody. We probably will have some agreements between the companies that will provide services to them in that transition so we don’t miss a beat,” said Aller.
But for now, these cooperation’s are working on getting the transition underway.
Alliant employees are being promised jobs under the new ownership.
And Alliant wants to make it clear they are not selling their generator business, so they will still have a presence in Minnesota.
This announcement does not affect Iowa customers.