Alliant Energy’s Iowa energy company files partial settlement agreement in electric rate review
Alliant Energy’s Iowa energy company recently filed a partial settlement agreement in its current electric rate review, which, if approved, would result in a smaller base rate increase than initially requested.
“I want to thank the Iowa Office of Consumer Advocate, the Iowa Business Energy Coalition and the other parties to the settlement for coming together on these issues,” Terry Kouba, president of Alliant Energy’s Iowa energy company, said. “Our company continually looks for ways to better serve our customers, and we are excited about the new options we’ve proposed to advance renewable energy and drive economic development.”
On March 1, Alliant Energy filed a request with the Iowa Utilities Board to increase annual retail electric revenues, with final rates beginning January 1, 2020. An interim base rate increase went into effect on April 1.
The settlement result in a base rate increase from interim rates in 2020 that is less than the final rates originally requested. Alliant would also use one-time credits to reduce the overall impact to customers in that year. The final bill impact for each customer class will be decided through the rate review process.
The proposed settlement addresses investments Alliant Energy has made to reduce long-term operating costs, including new wind generation in Iowa, distribution system enhancements, and advanced customer meters. Alliant Energy said that its investments in wind generation will result in lower fuel costs, and in 2021, customers will see additional savings from the early contract termination of a nuclear power contract.
The non-unanimous settlement is subject to approval from the Iowa Utilities Board (IUB).
