CEDAR RAPIDS, Iowa (KCRG) – The Iowa Utilities Commission (IUC) has approved electric and gas rate increases for Alliant Energy. Under an approved settlement, Alliant can increase its annual electric rate revenue to $185 million and a return on equity reduction from 10.0% to 9.65%. This will increase the average residential monthly charge for electric customers from $13 to $15.50. The IUC also okayed Alliant to increase its annual gas rate revenue to $10 million.

The IUC ordered Alliant to file compliance filings and associated tariffs within 30 days of today’s order based on the decision and documents in this rate case proceeding. Rate changes for customers will take effect upon the IUC’s review and approval of the compliance tariffs. Under Iowa law, because Alliant used a future test year to determine rates, the IUC will conduct a subsequent proceeding to determine whether the actual costs and revenues are reasonably consistent with those approved by the IUC. This will occur approximately 15 months after the new customer rates become effective.

As part of the proceedings in this rate case, the IUC received hundreds of written public comments and held three in-person public consumer comment meetings throughout Alliant’s Iowa service territory and one virtual comment meeting.