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INTERSTATE POWER COMPANY

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INTERSTATE POWER COMPANY


Interstate Power Company was a Dubuque, Iowa based utility company. Interstate celebrated its 50th Anniversary on April 18, 1975. The company began as early as 1913 when a group of Chicago financiers began consolidating small utility companies as part of the Utilities Development Corporation. In 1924 the corporation acquired the Dubuque Electric Company, then the sole remaining provider of electricity to Dubuque with subsidiaries supplying power to East Dubuque, Illinois, and Dyersville, Iowa. In 1925 the Chicago financiers incorporated their utility as the Interstate Power Company. The home office was located in the former offices of Dubuque Electric at 10th and Main.

A period of rapid growth for the company resulted in the company spreading farther into Iowa and parts of Illinois, Minnesota, Nebraska, North Dakota, Oklahoma, South Dakota, and the province of Manitoba, Canada. The stock market crash of the Great Depression in 1929 brought the company's good fortune temporarily to an end. Thirteen years and three company reorganizations would be needed to restore Interstate Power's financial stability.

In the 1940's Interstate divested itself of all operations that were not part of Northern Iowa and Southern Minnesota. In addition they picked up Eastern Iowa Power system and the Iowa/Minnesota properties of Central States Power and Light.

As part of reorganization, fringe operations were sold including the Dubuque bus system that Interstate had created from the trolley system in 1933. In 1936 when Interstate's bus fleet operated seven days a week, Dubuque residents could have a day's worth of sightseeing for twenty-five cents.

In 1991, Interstate Power Company became part of a holdings merger with Wisconsin Power and Light which was based in Madison, Wisconsin and IE Industries, which was based in Cedar Rapids, Iowa. The merger of these three public utility companies would become incorporated as Alliant Energy Corporation in 1998. Today (2011) Alliant Energy Corporation employs about 5,000 people and provides electricity to approximately 1.4 million customers in Iowa, Wisconsin, and Minnesota.

 

~ 1st Source: retrieved from http://www.encyclopediadubuque.org/index.php? title=INTERSTATE_POWER_COMPANY  Copyright Creative Commons BY-NC-SA, Last modified 28 December 2010

~ 2nd Source: Alliant Energy Corporation information internet http://www.alliantenergy.com/AboutUs/index.htm

~ transcribed and contributed by Conni Ellis

 
 
 

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