Posted at: 09/03/2013 3:51 PM
Updated at: 09/03/2013 4:01 PM
(ABC 6 News) - Alliant Energy, which serves 43,000 electric customers and nearly 11,000 gas customers in southern Minnesota, has agreed to sell all of its electric and gas distribution businesses in Minnesota.
The electric distribution businesses are being sold to Southern Minnesota Energy Cooperative which includes a group of 12 neighboring cooperatives. Alliant's natural gas business will be sold to Minnesota Energy Resources Corporation.
"Our Minnesota customers will be part of utilities with a significant, long standing presence in the state," says Tom Aller, President of Alliant Energy's Minnesota and Iowa utility. "We would expect long term customer benefits from the efficiencies achieved by combining our customer base with those of the purchasing utilities."
Despite assurances from Aller, it's still unclear as to exact how or even if the sales will affect customers. ABC 6 News is talking with officials from both Alliant and a local co-op this afternoon, in an attempt to get more specific answers to that question.
The total sale price for both electric and gas is nearly $128,000,000.
Despite the agreements, the sales require both state and federal approval.
More details tonight on ABC 6 News.