Thank you for holding, ladies and gentlemen, and welcome to Alliant Energy’s Fourth Quarter 2014 Earnings Conference Call. At this time, all lines are in a listen-only mode. Today’s conference is being recorded. I’d now like to turn the call over to your host, Susan Gille, Manager of Investor Relations at Alliant Energy.

Good morning. I would like to thank all of you on the call and the webcast for joining us today. We appreciate your participation. With me here today are Pat Kampling, Chairman, President and Chief Executive Officer; Tom Hanson, Senior Vice President and CFO; and Robert Durian, Controller and Chief Accounting Officer; as well as other members of the senior management team. Following prepared remarks by Pat and Tom, we will have time to take questions from the investment community. We issued a news release last night announcing Alliant Energy’s year-end and fourth quarter 2014 earnings and affirmed 2015 earnings guidance. This release, as well as supplemental slides that will be referenced during today’s call, are available on the Investor Page of our website at www.alliantenergy.com. Before we begin, I need to remind you the remarks we make on this call and our answers to your questions include forward-looking statements. These forward-looking statements are subject to risk that could cause actual results to be materially different. Those risks include, among others, matters discussed in Alliant Energy’s press release issued last night and in our filings with the Securities and Exchange Commission. We disclaim any obligation to update these forward-looking statements. In addition, this presentation contains non-GAAP financial measures. The reconciliation between the non-GAAP and GAAP measures are provided in the supplemental slides, which are available on our website at www.alliantenergy.com. At this point, I’ll turn the call over to Pat.

Good morning and thank you for joining us on our year-end earnings call. I will begin with an overview of 2014 performance and show our progress on our capital expenditures including the generation fleet transformation to clean air more efficient energy sources. I will then turn the call over to Tom to walk through our 2014 results and our 2015 guidance. I am pleased to report we’ve had another solid year. I want to thank our dedicated and talented employees for achieving our goals and safety, reliability, customer satisfaction and financial performance. Our 2014 weather normalized earnings are in line with the midpoint of our original earnings guidance issued in November of 2013 and reflected an 8% increase from 2013 as you can see on Slide 2. Through creative and constructive rate making in Iowa and Wisconsin our earnings growth was achieved with a minimal impact on customer rates. Now let me brief you on our construction activities. 2014 was certainly one of the most active construction years in our company history with almost $1 billion deployed into the business. We invested over $335 million in our electric and gas energy delivery systems in 2014 to continue to make our systems more resilient, meet customer growth and to bring natural gas service to communities which did not have access before. We also made significant progress transitioning the environmental profile of our coal generation fleet. Installing mission controls at our Tier 1 coal fired facilities increasing levels of natural gas fired generation and increasing levels of renewable energy result in significant environmental benefits. As a result of these efforts, SO2 and Nox are expected to be reduced by at least 90% and 80% respectively from 2005 levels to 2025. Mercury emissions are expected to decline over 90% from 2009 to levels…

Good morning, everyone. We released year-end earnings last evening earnings from continuing operations of $3.48 per share. 2014 earnings are higher than 2013 primarily due to lower capacity charges related to IPLs Duane Arnold and WP&Ls Kewaunee Purchase Power Agreements. These positive earnings drivers were partially offset by retail electric customer billings at IPL, higher energy efficiency cost amortizations to WPL, lower electric and gas sales attributed weather and higher depreciation expense. Also as we communicated last year, we accelerated some generation, distribution and customer service operations and maintenance expense into 2014, which was also an offset earnings. Comparisons between 2014 and 2013 earnings per share are detailed on Slide 3, 4 and 5. We estimate that 2014 weather impact when compared to normal temperatures resulted in higher earnings in $0.09 per share. This was $0.08 lower than 2013 impact of a positive $0.17 per share. We saw modest weather and normalized retail sales growth in 2014. Sales trends between 2014 and 2013 are illustrated on Slide 6. The extreme weather volatility over the last several years has increase the difficulty in estimating weather impacts. Now lets review our 2015 earnings guidance. Last quarter we issued our consolidated 2015 earnings per share guidance range of $3.45 to $3.75. Our IPL and WPL retail rate settlements provide increase certainty for customers and allows us an opportunity to earned on an increasing rate base without the inherent uncertainty of traditional rate cases through 2016. The walk from 2014 earnings per share to the midpoint of 2015 estimated earnings guidance range it shown at Slide 7. The pension expense impacts change from the walk presented in November based on the 2014 year-end discount rate and new mortality tables. Also the tax impacts have changed due to additional 2014 flow through benefits at IPL…

Thank you, Mr. Hanson. At this time, the company will open up the call to questions for members of the investment community. Alliant Energy’s management will take as many questions as they can within the one hour timeframe for this morning’s call. [Operator Instructions]. And we’ll go to Brian Russo with Ladenburg.

Good morning, Brian.

Just curious, the outlook for weather normalized sales in both jurisdictions is that kind of tracking what's kind of embedded in the settlements?

Yes.

Okay. And can you quantify the SSR amount that's going to be refunded to customers?

We don’t have a specific amount yet Brian. I would not expect it to be a significant amount, but as I said it’s going to be hung up with the balance sheet and it will be available then for refund with the next rate case.

Okay.

Brian, this is Pat. We will give you more transparency in that number now that the SSR costs are being little more finalized, so the next time we meet we’ll have a little more transparency on that.

Okay, great. And then you guys have done a good job of finding customer benefits and refunds. I am just curious as you look towards the next rate case filing at IPL. Do you anticipate additional offsets to the rate increase?

Yes, the $75 million of the additional tax benefit rider that we are proposing at this point Brian will be really used for that purpose.

Okay, great. And then lastly, just remind us of the allowed ROE in both jurisdictions and then how the sharing bans work?

Yes, in Iowa its about a 10% allowed ROE when you consider the fact that we got 577 treatment in some of the items. In Wisconsin its 10, 4 and the sharing mechanism is that - when earnings get to 10, 6, 5 there is a sharing mechanism and it’s 50% from 10, 6, 5, to 11, 4 and then after 11, 4 it’s a 100% dedicated to rate pairs.

Okay, great. Thank you very much.

Thank you, Brian.

And our next question is from Andrew Weisel with Macquarie Capital.

Hey, everyone, good morning.

Good morning, Andrew.

First, just quick one on the cash flows, it sounds like there was no change to the debt or equity plans for 2015, when I look at the bridge for the EPS guidance. Well, it looks like there were a couple of pennies of smaller drags, what’s causing that?

Well, from a cash flow there is no substantive changes. And in terms of the earnings we just – with the November guidance we had an estimate for fourth quarter. Now that we got the benefit of actual, we've gone back and adjusted a couple of those line items. Nothing is significant, but hopefully it will just allow you to monitor our progress over 2015 with actual now that we've got those completed.

Got it. That makes sense. Okay, then a couple follow-up questions on your comments on the solar opportunity that you talked about, can you maybe just elaborate a bit on you mentioned that it's included in the CapEx forecast you gave in November, but would that be in the first five years or the second five-year buckets, would that be instead of some of the win you’ve been looking into or in addition, and lastly would you depend on the EPA's Carbon rule or is this more of an economic opportunity?

Okay, that’s a lot of questions. The credits we're looking at right now are not huge. So there are millions of dollars, not tens of millions of dollars. So they are just in the general capital guidance even for 2015 and 2016. We haven’t really looked at solar beyond the next couple of years right now. We want to make sure we understand how it integrates well into the grid and that's why we're taking these steps right now to learn on these projects. And it's really independent of what happens on the EPA plan at this point.

All right. Very good. Thank you.

And it doesn’t change any of our capital guidance that we provided.

Got it.

And we will go to our next question Steven Fleishman with Wolfe Research.

Hi, good morning

Good morning, Steve.

Hi, Pat. So it sounds like you are taking a reserve in your guidance for the ATC ROE outcome in the MISO review? Could you just is this something like it sounds like so you have to do or you are just kind of choosing to do that to be cautious and how are you setting this reserve?

Well, I’ll say is that since it is probable that ROEs will probably be changing the transmission world. We did take a reserve and however for us it’s really immaterial, we are not been very specific about the targeted ROEs at this point, but we did take a slight reserve.

Okay. And then just when would you need to be kind of going back to working on kind of the next rate deals I guess both go through 2016, or is it something you have to start working on basically beginning of next year?

We are actually working on them right now. We do multiyear capital planning, so as we develop our plans we want to make sure these rate cases are very solid and we can smoothen any rate increases as necessary and as we talked about the Dewey, we got the TBR dollars to be used and then in Wisconsin we are going to have some additional dollars that are in escrow that we can use. So we are working on that right now, putting our plans together, we don’t need to file them all until Wisconsin is 2016, and Iowa be early 2017, but the planning has already started.

Okay. Great, thank you very much.

Thanks Steve. End of Q&A

And Ms. Gille, there are no further questions at this time.

With no more questions, this concludes our call. A replay will be available through March 3, 2015 at 888-203-1112 for U.S. and Canada, or 719-457-0820 for international. Callers should reference conference ID 8244179. In addition, an archive of the conference call and a script of the prepared remarks made on the call will be available on the Investor section of the company’s website later today. We thank you for your continued support of Alliant Energy, and feel free to contact me with any follow-up questions.

And that concludes today’s conference. You may now disconnect.