Iowa regulators have approved a rate increase that's lower than what Alliant Energy sought.
On Thursday the Iowa Utilities Board also decided that Alliant must refund around $7.5 million to customers who paid interim rate increases. Alliant had sought a permanent annual revenue increase of $203.6 million.
Several customers objected, and a settlement was reached that would limit the increase to $127 million.
The board announced Thursday that it will approve the settlement.
It also approved increasing the monthly customer charge to $13 from $11.50 for residential customers and to $20 from $19 for general service customers.
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