Exhibit 10.1

2009 MANAGEMENT INCENTIVE COMPENSATION PLAN SUMMARY

Alliant Energy Corporation (the “Company”) maintains the Management Incentive
Compensation Plan (MICP), which provides eligible employees with a cash bonus if
corporate and individual goals are met. The following is a summary of the
material terms of the MICP applicable to named executive officers of the Company
for 2009.

Alliant Energy Corporate Performance: The table below outlines the 2009 goals
against which corporate performance will be measured and the funding associated
with each level of achievement.

2009 CORPORATE PERFORMANCE MEASURES
FOR PURPOSES OF DETERMINING THE SHORT-TERM INCENTIVE POOL

Earnings Per Share (EPS) (1)

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Cash Flow (2)

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Level

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Funding

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Level

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Funding

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Maximum 150%    
Target 100% Target ($545M) 100%
Threshold (3)   20%   ($2.10)    

Weighting of EPS in
final Corporate Performance

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Weighting of Cash Flow in
final Corporate Performance

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85% 15%

  (1) Earnings per share (EPS) amounts used for purposes of determining
short-term incentive pool will be based on utility earnings from continuing
operations only.

  (2) Cash flow amount used for purposes of determining short-term incentive
pool funding will be based on utility and Alliant Energy Corporate Services,
Inc. (SERVCO) cash flows from operations only. If cash flows do not meet the
target amount, the short term incentive pool will only be funded at 85% of the
funding level achieved by EPS. Calculation of the cash flow amount will exclude
changes from budgeted sales of customer receivables, tax effected pension
contributions and net collateral held by or paid by the utilities and SERVCO.

  (3) If the Threshold EPS level, which is the mid-point of utilities earnings
per share guidance issued on December 18, 2008, is not met, there will be no
payout for the 2009 plan year.

MICP Target Incentives: Achievement of the target level goals and objectives may
result in a payout of 100% of the incentive opportunity. However, a
participant’s final award may range anywhere from 0 to 200% of that target based
on an individual’s achievement of performance goals. Incentive opportunity is
expressed as a percentage of eligible earnings for the plan year.

Individual Performance Goals: For 2009, there are financial, execution and
corporate well-being goals for the CEO and other executive officers. Financial
Goals are weighted at 50%. The 2009 annual financial goals are to achieve
Alliant Energy Corporation consolidated EPS from continuing operations of $2.33
for the CEO, COO, CFO and Senior Vice President, and Utility EPS from continuing
operations of $2.10 for the all the named executive officers. All officers have
a target to achieve cash flows from continuing operations of $545 million at
utilities and SERVCO, excluding changes in sales of customer receivables, tax
effected pension contributions and net collateral held by or paid by the
utilities and SERVCO. Mr. Aller has financial goals related to non-regulated
transportation operations. Execution Goals weighted at 30% include various
accomplishments for the WPL and IPL future generation plans; utility wind
projects; utility rate cases; customer service and reliability standards; clean
air compliance plan; environmental; and Lean Six Sigma goals. Corporate Well
Being Goals weighted at 20% include various accomplishments for employee
diversity metrics and safety goals.

Claw-back provision: The Company will seek reimbursement of excess incentive
awards paid to executive officers under the MICP if the Company’s financial
statements are the subject of a restatement due to gross negligence, intentional
misconduct or fraud. This provision applies to incentive payments made within 12
months of the restatement.