Alliant Energy customers in Iowa will see their bills be going up starting October 1st. The Iowa Utilities Commission has approved a compromise plan for Alliant Energy subsidiary Interstate Power & Light Co. to increase rates for customers.
The IUC says Alliant electric customers’ average residential monthly base rate charge will rise by 19 percent, from $13 to $15.50 in Iowa. The base rate or “base service charge” is just one part of customers’ monthly bill and is not affected by how much energy a customer uses.
The increase is expected to give Alliant an annual electric rate revenue increase of $185 million, reduced from the $284 million Alliant originally requested. It also places a five-year moratorium on future base rate hikes by Alliant.