Earlier this week, decorahnews.com posted a news story (http://www.decorahnews.com/news-stories/2018/05/19282.html) about Black Hills Energy's announcement it was rebating to its customers the $2.43 million impact on Black Hills of the federal tax cut legislation.
The story was accurate, but left out some background information. The idea of the rebate came from the Iowa Utilities Board and not Black Hills Energy. Here's the news release from the IUB:
"The Iowa Utilities Board opened an investigation into the impact of the federal Tax Cut and Jobs Act on Iowa's rate-regulated utilities in January...the new tax law reduced the federal corporate income tax rate from 35 percent to 21 percent.
The following tax refund proposal tariffs were approved by the IUB, subject to complaint or investigation:
• Black Hills Energy will return an estimated $2.2 million to its natural gas customers in Docket No. TF-2018-0037.
• Alliant Energy will return approximately $34.7 million to its electric customers in Docket No. TF-2018-0038. Alliant's proposal to return estimated benefits to its natural gas customers is subject to further review by the IUB in Alliant's upcoming natural gas rate increase proceeding in Docket No. RPU-2018-0002.
• MidAmerican Energy will return approximately $33 million to its electric customers in Docket No. TF-2018-0041, and return an estimated $8.8 million to its natural gas customers in Docket No. TF-2018-0040."
When your utility bills arrive, thank the Iowa Utilities Board for your rebates!