Alliant Energy to pass tax savings on to Iowa customers

Alliant Energy announced this week that it will pass savings from lower federal taxes on to its customers in Iowa.

Annual savings, including tax-related savings from Alliant Energy’s transmission providers, are expected to be approximately $75 million, the company said.

“These tax savings are great for our Iowa customers and the new, lower corporate tax rate will benefit our families, businesses and communities today and in the future,” Doug Kopp, president of Alliant Energy’s Iowa energy company, said. “In the last six years, we’ve delivered about $500 million in other separate tax-related savings to customers, reducing energy costs.”

Typical residential electric customers will see an annual savings of approximately $50 to $60. Typical residential natural gas customers will see annual savings of approximately $30.

In March, Alliant Energy submitted an updated filing to the Iowa Utilities Board describing savings for Iowa customers. If the Utilities Board approves the updated filing, electric and natural gas customers will begin seeing savings this summer.

Alliant Energy Corporation’s Iowa utility subsidiary, Interstate Power and Light Company (IPL), utilizes the trade name of Alliant Energy. The Iowa utility is based in Cedar Rapids, Iowa and provides electric service to 490,000 retail customers and natural gas service to 220,000 retail customers.