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Iowa board OKs lower rate increase for Alliant Energy; Alliant must refund around $7.5M

On Thursday the Iowa Utilities Board also decided that Alliant must refund around $7.5 million to customers who paid interim rate increases.

Posted: Jan 10, 2020 9:07 AM

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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