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State agency files objection to Alliant Energy's interim rate increase

Posted: Mon, Mar 11, 2019 3:04 PM

If you're a customer of Alliant Energy, your rates will increase on April 1st as part of the utility's application for a permanent rate increase.  The interim rate increase starting in April will average 5.5 percent on all Alliant customers in Iowa.

The Office of Consumer Advocate, a division of the Iowa Department of Justice, has filed a motion to reduce those interim rates.  A motion filed with the Iowa Utility Board by the Consumer Advocate's Office claims the utility has, without Board approval, increased its return to shareholders through interim revenue rates by approximately $10 million.  The filing says by making this move, Alliant "is improperly and unilaterally increasing costs to its customers to provide an increase in the return on equity to its shareholders through interim rates."

The motion asks the Iowa Utility Board to order Alliant to re-compute its interim revenue requirement and rates consistent with the Iowa Utility Board's decision approving a 9.6 percent return on equity.

Alliant Energy will put the proposed interim rate increase into effect April 1st, then issue refunds to customers if the IUB rules in favor of the Office of Consumer Advocate's motion.