Iowa Utilities Board approves a $127 million rate increase for Alliant Energy

In a ruling issued late Wednesday night, the Iowa Utilities Board has approved a proposed settlement of Alliant Energy's proposed rate increase for customers.

The ruling accepts a compromise rate increase proposal approved by Alliant Energy last fall and agreed to by the Office of Consumer Advocate, IBEW, the Iowa Business Energy Coalition and several other groups.

On March 1st of last year, Alliant Energy/IPL filed with the Iowa Utilities Board a request for a $203,575,597 rate increase.  In October Alliant reached a settlement with several groups supporting an annual electric base rate increase in the amount of $127,000,000.

Several other groups, including the "Decorah Area Group," which was made up of six organizations from the Decorah area which opposed the settlement, continued to fight against the proposal, but Wednesday night the Iowa Utilities Board accepted the proposal.

As part of the ruling, the Iowa Utilities Board ordered Alliant to refund $7.5 million to customers who have been paying Alliant's interim rates.  The "typical" residential customer has been paying $124 a monthly for electricity, with $8 a month the interim increase.

The IUB also allowed a renewable energy rider on Alliant's bills to customers to cover the costs of current wind energy projects.  Alliant says this additional charge will delay until 2021 its next rate increase request.