DES MOINES, Iowa — The Iowa Utilities Commission has approved Alliant Energy’s request for a $185 million per year electric rate increase and is requiring transparency for future investments.
Tuesday, the Iowa Utilities Commission (IUC) ruled on an application Alliant filed late in October 2023. The application sought an increase in electric and natural gas rates, requesting a revenue increase of around $284 million for electric and $14 million for natural gas. In June 2024, a settlement was filed requesting the electric revenue increase be lowered to $185 million and natural gas revenue be reduced to $10 million.
The IUC ruling resolves the Alliant case and other similar contested issues. This increase will lead to the average customer’s monthly electric bill rising from $13 to $15.50. The order implements a rate increase cap of 15% for each customer class and approves a conditional electric rate base moratorium through October 2029.
Des Moines Schools launching ‘Parent University’ program An additional requirement of the order is transparency in Alliant’s future investment plans. Environmental groups have been demanding companies to provide better customer protections and plans for future projects. Alliant co-owns four coal plants in Iowa. According to a recent analysis around $49 million was lost between 2021 to 2023.
“To protect customers, Alliant needs to make smart decisions about its future investments,” said Josh Mandelbaum, Senior Attorney at Environmental Law and Policy Center. “That includes a robust planning process that fully accounts for its coal plants and potential savings like energy efficiency. The Commission needs to provide stronger oversight to protect customers, and it should use the forthcoming resource planning guidelines announced in this order to provide a framework for better planning and oversight.”
The IUC now requires Alliant’s Resource Environmental Solutions (RES) to be filed in their electronic filing system for improved transparency. The IUS will also publish optional guidelines for the resource planning process.
Alliant proposed the rate increase to take effect on October 1, they are required to notify customers of impacts on their bill within 30 days of the new rate being implemented.
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