This report does not constitute a rating action. What's new: Alliant Energy Corp. (AEC) announced an increase in its capital spending plan for fiscal years 2027-2030 to $15.9 billion, representing a $2.5 billion upward revision from its previous four-year plan. This increase is primarily spurred by planned investments in a 1.2 gigawatt (GW) natural gas plant and 200 MW of battery storage capacity. AEC continues to experience a significant surge in demand from large-scale industrial and commercial customers--most notably hyperscale data centers--which is driving both load growth and elevated capital expenditure. To date, the company has signed electric service agreements (ESAs) totaling 3.4 GW of capacity with Quality Technology Services (QTS), Google, and Meta, and is in advanced discussions for
