The agreement is subject to approval from the Iowa Utilities Board (IUB) and the company said it expects to have a decision from Iowa’s regulators by the fourth quarter of 2013.
If approved by the IUB, the power plant is expected to start operations by the spring of 2017.
IPL had previously filed for approval of eight ratemaking principles before starting construction of the power plant, known as Marshalltown Generating Station, which is expected to cost about $700m.
The OCA and the company resolved its three remaining differences in the proposed settlement.
The proposed settlement includes an OCA-recommended return on equity (ROE) of 11% for the project and a ROE of 10.3% used to calculate the allowance for funds used during construction.
