The IUB issued a final decision and order today which approves a settlement agreement allowing Alliant Energy–Interstate Power and Light Company, to increase its customer electric rates.
Alliant Energy says customers will have new options as part of an approved rate settlement for Alliant Energy’s Iowa energy company. On April 3, 2017, the company proposed its first rate review in six years to the Iowa Utilities Board (IUB). Today, the IUB ruled on the request.
“We will continue to help our customers by advancing clean energy and strengthening the energy grid,” said Doug Kopp, president of Alliant Energy’s Iowa energy company. “We are reviewing the Board’s decision.”
The IUB approved the partial settlement agreement filed in September. This ruling allows Alliant Energy to continue to use previously identified tax benefits to reduce the overall bill impact for customers. Alliant Energy will work with the IUB to determine the best method to begin providing additional benefits from lower corporate taxes due to the recently enacted federal tax reform.
The specific rate adjustments and overall impacts to customer bills will be available when the company files its revised tariffs.
Today’s decision enables the company to move forward with new energy solutions for customers. These include lower cost Time of Day pricing, a lower cost Second Nature program and more. Details on these programs will be available online in early 2018.
The IUB also approved continuation of the transmission rider, which adjusts customer rates based on transmission costs approved by federal regulators. This will allow customers to quickly receive benefits related to lower corporate taxes from the company’s transmission providers.
The company continues to review the written decision order from the IUB. Parties have 20 days to ask the IUB to rehear or reconsider its decision. Until that process is concluded, the IUB’s decision is not final and the information provided in this news release is subject to change.
Read the Order: