US crude falls to $101.86 as traders assess Middle East supply risks
WTI futures declined 0.9% after a 3% gain in the previous session, amid further Houthi attacks and efforts to negotiate an end to the war.
Alliant expects contracts for 1 GW of additional data-center demand
The utility raised its 2027-2030 capital spending forecast by 19% to $15.9 billion and expects system peak demand to grow more than 60% by 2031.
Alliant Energy expects to secure agreements covering about 1 gigawatt of additional electricity demand from data centers within six months, Chief Financial Officer Robert Durian said on October 30. The prospective demand would supplement 3.4 GW already under contract with Alphabet's Google, Meta Platforms and Blackstone-backed QTS Data Centers.
Durian said on a post-earnings call that the additional 1 GW is expected to start ramping up between 2029 and 2031. Spending to support that demand would extend across Alliant's existing planning period and beyond.
The Madison, Wisconsin-based utility increased its capital expenditure forecast for 2027 through 2030 by 19% to $15.9 billion. Alliant expects peak demand on its system to rise more than 60% by 2031. It also expects to start providing transmission service to Meta in Wisconsin during the first quarter of 2027.
Durian said earnings growth could surpass Alliant's 8% target if spending increases further to accommodate future electricity demand and other investment opportunities. The company narrowed its 2026 earnings forecast to the upper half of its previous range and set 2027 guidance at $3.63 to $3.73 per share. The midpoint matched Wall Street expectations, based on LSEG data.
Alliant supplies electricity to roughly 1 million customers and natural gas to 427,000 customers in Iowa and Wisconsin.