DES MOINES – The Iowa Utilities Board will meet Monday to issue a formal investigation and set a schedule for hearings for Alliant Energy’s proposed rate increases.
Alliant Energy – Interstate Power and Light Company – made a request for a general rate increase in its electric and natural gas services in early March, citing costs for expanding wind farms and new meters.
On March 1, Alliant’s Iowa energy company, Interstate Power and Light Company, filed proposals with the Iowa Utilities Board to recover the costs of wind farms and other investments.
Alliant projects that the wind additions will save customers around $25 million in fuel costs in 2019 and $60 million In 2020.
The company is asking the Iowa Utilities Board for a total increase in annual retail electric revenues of $204 million and a total increase in annual retail natural gas revenues of $21 million.
The Iowa Utilities Board (IUB) will hold the scheduling conference and oral arguments from 1 to 4 p.m. Monday.
The Office of Consumer Advocate, a division of the Iowa Department of Justice, filed a motion March 8 to reduced the interim electric rates proposed by Alliant. The Large Energy Group and the Iowa Business Energy Coalition have also joined in the motion. Oral arguments for the motion will begin after the scheduling conference.
IUB has requested a formal investigation for both the electric and gas rate increases, requesting additional information from Alliant.
Customer electric bills are projected to increase by approximately 2 percent in 2019 and 5 percent in 2020, according to Alliant.
In charts sent to customers by mail, Alliant showed a typical residential electric base rate bill portion of $82.31 in 2018 would increase by more than $20 to $102.44 in 2020, a more than 24 percent change.
Gas bills would increase approximately three percent from 2019 to 2020 and, if approved, the changes to the gas base rate would take effect starting Jan. 1, 2020.
In the chart sent to customers, the average base rate in 2018 of $28 would increase to $35 in 2020, a 25 percent increase.
The Iowa Utilities Board has ten months to issue a final decision.
As part of this process, the Utilities Board will host a series of customer comment meetings.
The customer comment meetings have been scheduled across the state, including Mason City.
The meeting will be held at 11:30 a.m. May 2 at the Historic Park Inn, 7 West State St.
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