Thank you for holding, ladies and gentlemen, and welcome to Alliant Energy’s Year-end 2011 Earnings Conference Call. At this time, all lines are in a listen-only mode. Today’s conference is being recorded. I would 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 on the webcast for joining us today. We appreciate your participation. With me here today are Bill Harvey, Chairman and Chief Executive Officer, Pat Kampling, President and Chief Operating Officer, and Robert Durian, Controller and Chief Accounting Officer, as well as other members of the senior management team. Unfortunately, Tom Hanson, our CFO, will not be joining us today due to a back injury. Following prepared remarks by Bill and Pat, we will have time to take questions from the investment community. We issued a news release this morning announcing Alliant Energy’s year-end 2011 earnings. This release, as well as supplemental slides that will be referenced during today’s call, are available on the investor’s 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 risks that could cause actual results to be materially different. Those risks include, among others, matters discussed in Alliant Energy’s press release issued this morning 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 Bill.

Thank you Sue, and good morning everyone. 2011 marked a successful year for us. We met our financial objectives and maintained excellent reliability during our hot and stormy summer season and we kept our safety initiatives moving forward. I would like to commend our employees who continue to provide our customers reliable electric and gas service while at the same time delivering value to our share owners. My comments today will detail our priorities for 2012. Later in the call, Pat will discuss various financial and regulatory matters. As Sue mentioned, our CFO, Tom Hanson would normally present a major portion of our scripted remarks this morning, but Tom has suffered a back injury and is unable to join us this morning. Tom, if you are listening, get well soon. Robert Durian, our Control and Chief Accounting Officer and John Kratchmer, our Treasurer are here to help us with your questions if need be. In 2012, we will continue to focus on transforming our generating fleet. Our plans include retrofitting our Tier 1 coal facilities, fuel switching, we are investigating less expensive emission controls for our smaller coal plants and increasing the amount of gas fired generations in our portfolio. Our emission control equipment plants are intended to assure compliance with environmental rules. These expenditures are outlined on Slide 2. Even though the Cross-State Rule was stayed, the current environmental work underway at IPL’s Ottumwa and WPL’s Edgewater and Columbia facilities support complying the with the Clean Air Interstate Rule which remains effective in the wake of the Cross State Rule stay, the Utility MACT Rule, or the Wisconsin State Mercury Rule. We planned to request regulatory approval for installing the remaining controls for our Tier 1 facilities, so they will be ready to comply with the Cross-State Air Rule…

Thank you Will for the kind remarks. I would also like to thank you for your tremendous contribution and dedicated service to the employees, customers and share owners of Alliant Energy. We are all going to miss you and wish you all the very best in retirement. Good morning everyone. Let’s start with 2011 results. We released earnings this morning with our GAAP earnings from continuing operations of $2.73 per share. Adjusting for items we typically exclude from guidance, 2011 adjusted earnings were $2.76 per share. The 2011 adjustments relate to charges for the IPL electric rate case decisions, the cash balance pension plan amendment, emission allowance contract and impairments. These charges were substantially offset by non-recurring state income tax impacts. Comparisons between 2011 and 2010 earnings per share are detailed on Slides 4, 5 and 6. Moving to the economy in our service territory, 2011 weather normalized, electric sales to our commercial and industrial customers, increased modestly. However, like the other utilities in our region, residential electric sales decreased by approximately 1% when comparing 2011 to 2010. As we noted in November, we all forecast in 2012 sales in all customer classes to be flat to 2011. These trends are illustrated on Slide 7. Our current liquidity position is strong, totaling approximately $960 million comprise of $925 million of available capacity under our credit facility and $35 million of available capacity under the sale of receivables program. We recently increased the price of our credit facility to $1 billion to help ensure adequate liquidity to finance our capital plans. Two of the primary factors influencing the financing plans are the cash flow impact from our current tax initiatives and our capital expenditure plan which is summarized on Slide 8. We will finance our 2012 capital plan with cash flows…

Thank you, Miss. Kampling. At this time, the company will open up the call to questions from members from the investment community. Alliant Energy’s management will take as many questions as they can within the one hour time frame for this morning’s call. (Operator Instructions) Our first question comes from Brian Russo with Ladenburg Thalmann. Brian Russo – Ladenburg Thalmann: Hi, good morning.

Good Morning Brian. Brian Russo – Ladenburg Thalmann: Just the decision to move RMT to discontinued operations, does that mean you have kind of tested the market and feel that you could actually sell that year-end? I mean, if there have been any discussions with other parties of their interest in that subsidiary?

Brian, we have done sufficient exploration to believe that we can sell the business by year-end next year, but to date there have been no serious discussions with any third party about the potential acquisition. We expect that that process will begin in earnest very shortly. Brian Russo – Ladenburg Thalmann: And how would you suggest we value that business? Should we look at it from a revenue perspective or multiple to operating income or and maybe even you could talk about the backlog?

Sure, we are advised by people that know much more about these things than we that these businesses tend to get valued as a multiple of their EBITDA’s, depending upon where the market sits at any point in time, somewhere between two and six times EBITDA is what we are advised. Brian Russo – Ladenburg Thalmann: Okay and just any comments on the backlog?

We have got about $235 million of project revenues booked for this fiscal year. Brian Russo – Ladenburg Thalmann: Okay great. Can you talk about – I know it is early in the year, but just the cost controls you are planning on implementing at each of the utility subsidiaries?

Sure, Brain. These cost controls have been work-in-process now for a couple of years and a lot of the work that is going on now is with our generation fleet. We have converted some of our older coal facilities to gas, the second one would be converted in the second quarter of this year. There is so much tremendous bottom line savings to the organization. And I again, we are just an organization of spending the right amount of money at the right time, very (inaudible) and very disciplined and that we are seeing the costing savings in the bottom line just seen in our results. Brian Russo – Ladenburg Thalmann: Okay. Thank you very much and Bill good luck on your future endeavors.

Thanks Brian, same to you.

And our next question will come from Jay Dobson, Wunderlich Securities. Jay Dobson – Wunderlich Securities: Good morning Bill, congratulations on your retirement.

Thank you, Jay. Jay Dobson – Wunderlich Securities: And I hope there isn’t any indication in Tom’s back injury of who really did the heavy lifting this quarter.

Jay, you have known me long enough to know that it sure isn’t me. Jay Dobson – Wunderlich Securities: More seriously, wanted to return to the RMT, how do you envision this process, is this going to be an auction style process, just how you envision it sort of playing out as you pursue viable buyers over the next several quarters?

Honest answer at this point in time Jay, is I don’t know. That’s something that we will figure out in consultation with the advisors that we retain to help us with the transaction. Jay Dobson – Wunderlich Securities: Okay, fair enough. And how did that $235 million of backlog compare with where you were last year, has that grown or is that sort of stagnant, how would that compare?

I would say it is relatively comparable to the book to business that we had in place at this time last year, plus or minus a little bit. Jay Dobson – Wunderlich Securities: Okay, fair enough. And then turning to the Colonie negotiations, it seems like that is a bit of change from last quarter, where you sort thought, Duane Arnold renegotiated that Colonie would be and now neither will be, is that a factor of natural gas prices or is it something else changing there that you could help us understand?

I think what you should hear in that remark is that while our efforts at that point in time were continuing with the Dominion Resource is that we are out, the Duane suspect that Dominion would share this perspective that we are of that view that we are not going to get to a satisfactory deal and consequently we think those conversations are ended. Jay Dobson – Wunderlich Securities: Got you. So really they are at the stages as Duane Arnold, you don’t anticipate any other, it is not again a negotiating ploy or anything like that?

No, we are not doing a rope a dope here. We think both parties made a very very earnest, intense, good faith effort to reach a mutually acceptable agreement and we just failed to do that, there is no hard feelings either way, but I think we are finished. Jay Dobson – Wunderlich Securities: Got you. And then last question, I know some of this is in process, but maybe you can sort of talk us through at least how you are thinking about it, and since Pat will take the baton, April 1, sort of how she is thinking about it. And I am referring to the capacity chart roll off for Duane Arnold and Colonie as you roll out into ’14 and then obviously have environmental spends coming on it variable times and obviously then the gas plant that should be adding in the 2016 timeframe. How should we think about balancing that since earnings needs will vary over that timeframe?

Yeah sure, really the story hasn’t changed, the timing of this just works out that we will have the large capital additions going into service at the time the capacity payments roll off. But as part of our rate case strategy we are hoping to have cases going forward with minimal customer impact even with this large capital expenditure plan, so that has not changed. Jay Dobson – Wunderlich Securities: Got you. Okay I will follow up more offline, thanks so much.

Okay.

Next is Ashar Khan, Visium Asset Management.

Hi, could you just mention, you mentioned you might this $250 million of cash, if I heard it correct. To me it’s a big amount, could you just tell us, I guess the utilization of it? How should we look at it? And when we know specifically whether we have this or not?

Sure, but we’ll probably know, we are hoping in the second quarter once we have our conversations with our regulators on how the cash grounds would be utilized in the rate making process. I mean, really is it’s cash, it’s the grab money from both the Whispering Willow and the Bent Tree Wind Farm, you know combine the capital on those are almost $900 million, so the cash grant money is substantial. In the short run, we will be using it displace some long-term financing that we might need, but over the multiple years, it is really going to be pushing out the need for common equity.

Pat, can I ask you how much of – I guess it is a big amount, if you utilize it, how many years of common equity does it fore stall, can you help us? Based on the budgets you have given us for the next three years.

We see it pushing out equity at least a year.

So, by like what? End of 2014 or 2015?

Yeah about that.

Okay thanks. And then can you just reiterate, I guess with RMT the growth rate still remains – your anticipated growth rate long-term?

I am sorry, could repeat that?

It’s with the absence of RMT, would you see growth remaining same? Yes it would be.

And can you remind us what that is?

We are still saying 5% to 7% a year.

5% to 7% per year and what would be the base here?

2010 weather normalized.

2010 weather normalized, okay, thank you.

Next is James Krapfel, Morningstar. James Krapfel – Morningstar: Hi, good morning.

Good morning Jim. James Krapfel – Morningstar: You had mentioned on the call that you could get somewhere in the range of 2 to 6 times EBITDA for RMT, at least that’s what your hearing. What was EBITDA for the business, say for the last three years?

It was around $6 million, $7 million.

Yes.

Yeah, I think 6 to 8. James Krapfel – Morningstar: 6 to 8. And then 2011, presumably was on the lower end given the (inaudible).

Definitely it was on the lower end, yes. With the New Jersey projects it was seriously negative, yeah. James Krapfel – Morningstar: Okay, that’s all I had thank you.

Miss Gille, there are no further questions at this time.

With no more questions, this concludes our call. A replay will be available through February 17, 2012 at 888-203-1112 for US 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’s section in the company’s web site 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 does conclude today’s conference. Thank you for your participation.