(Radio Iowa) — The Iowa Utilities Board has given final approval to an agreement with Alliant Energy for an electric rate increase. Alliant had requested an increase of 204 million dollars in revenue from residential customers. The amount was reduced to 127 million dollars to give the company a nine-point-five percent return. The agreement also includes a refund of seven-and-a-half million dollars for customers who paid interim rates.

The monthly customer charge will increase form 11-50 to 13 dollars for residential customers and from 19 to 20 dollars for the general service customers. Customers who don’t want an automated meter will have to pay a monthly fee of four-dollars, six cents. The I-U-B says the evidence in the rate case demonstrates that Alliant has not efficiently managed its relationships with its customers.

Alliant is required to file a comprehensive improvement plan within 90 days and review its own internal processes, and identify opportunities for improvement, and correct deficiencies as they become apparent.