Alliant Energy’s Iowa utility company, Interstate Power and Light Company (IPL), filed a request last week with the Iowa Utilities Board (IUB) to adjust electric and natural gas rates, beginning in late 2024.
The company’s request includes:
Modernizing and strengthening the energy grid, including continuing to move power lines from overhead to underground to decrease the number of outages and length of outages. Over the last decade, as Alliant Energy has placed more lines underground, the frequency of outages and duration of outages have decreased approximately 30%. Currently, over 20% of the company’s lines in Iowa are underground.
Upgrading infrastructure to enhance and strengthen the energy system, including expanding the company’s fiber network to ensure reliable communications during emergencies.
Diversifying the company’s Iowa energy mix by adding renewable energy, which is cost-effective for customers long-term, creates jobs and tax revenues for communities, and contributes to a healthier environment.
Alliant Energy’s plans include adding 400 megawatts of solar in the state and extending the life of the wind energy the company owns and operates in Franklin County.
”At Alliant Energy, customers are at the heart of everything we do. Guided by our purpose-driven strategy to serve customers and build stronger communities, we take great pride in our commitment to delivering safe and reliable service, 24/7 and 365 days a year,” said Mary Farlinger, Vice President – Customer and Community Engagement at Alliant Energy. “As an essential service in the communities we serve, we are acting now to best manage costs and investing to continue to meet customers’ energy supply needs for decades to come.”
Since the utility’s last rate increase request was in 2019.
“Nobody, including us, wants to see bills increase,” said Farlinger. “However, there are more costs down the road if we do nothing or simply continue ‘business as usual.’ It’s why we’re planning ahead and acting on behalf of our customers to ensure we’re ready to manage the rapidly changing energy landscape.”
Prioritizing customer affordability, the utility proposes for new electric rates to be phased-in over approximately two years. The company is requesting a 7.7% (approximately $10 per month) increase to the average residential electric customer’s total bill beginning in October 2024 and a second phase increase of 5.7% (approximately $7 per month) to take effect beginning in October 2025. Including all electric customer classes, the proposal results in an approximately 9% increase to the average electric customer’s total bill in October 2024 and a second phase increase of approximately 7% beginning in October 2025.
For gas customers, the company is requesting a 5% increase (approximately $3 per month) to the average residential gas customer’s total bill in October 2024. The overall impact on customer bills will vary, depending on actual energy used and final rates approved by the IUB. If approved, changes will not take effect until October 2024.
Hearing requests can be sent to the Iowa Utilities Board online, by email at customer@iub.iowa.gov, or by mail at the Iowa Utilities Board, 1375 E. Court Avenue in Des Moines, Iowa, 50319-0069. All comments are public record and accessible to the Office of Consumer Advocate, which represents the public interest in rate cases before the Iowa Utilities Board.
The IUB will conduct a series of customer comment meetings that are open to the public. A meeting is scheduled for 6 p.m., Wednesday, Nov. 8 at Southwestern Community College, Performing Arts Center, 1501 W. Townline Street, in Creston.