Alliant Energy has announced that it has submitted an updated filing to the Iowa Utilities Board which outlines savings for Alliant Iowa customers because of the federal tax cut bill. If the filing is approved by the Iowa Utilities Board, electric and natural gas customers will see savings this summer. Said an Alliant spokesperson, "This does not affect the amount we pay in taxes that support the city, schools and other tax-funded entities."
According to Alliant, the annual saving is expected to be nearly $75 million, including tax-related savings from Alliant Energy's transmission providers.
"These tax savings are great for our Iowa customers and the new, lower corporate tax rate will benefit our families, businesses and communities today and in the future," said Alliant Energy Iowa president Doug Kopp.
For typical residential electric customers, tax reform will result in an annual savings of $50-$60. For typical residential natural gas customers, tax reform will result in an annual savings of nearly $30.