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Federated & Nobles join ten other electric cooperatives in signing agreement to acquire Alliant Energy territory

September 13, 2013

If approved by regulators, residents in several area communities will become member-owners of the not-for-profit cooperatives
In an effort to increase efficiency and aid in the service to consumers, Alliant Energy Corporation and the Southern Minnesota Energy Cooperative (SMEC) have signed an agreement for the sale of the Minnesota territory of Alliant Energy electric distribution service. SMEC is a group of 12 southern Minnesota electric distribution cooperatives which includes Nobles Cooperative Electric and Federated REA.

The transaction is contingent upon regulatory approval. Assuming the acquisition is approved by regulators, it is expected to close in 2014. The Minnesota Public Utilities Commission (PUC) will be going through the process to change from investor-owned to a cooperative.

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