James Martin-Schramm, CEDI Policy Analyst, was a guest on Iowa Public Radio’s River to River, discussing the outcomes of Alliant Energy’s recent rate case before the Iowa Utilities Commission.
“Unlike a lot of products and services in our lives, …gas and electric utility services is not subject to market competition, hence the need for regulation. If a utility wants to increase its rates to its customers, it has to get approval from the Iowa Utilities Commission,” he explains.
Before this rate increase, Alliant Energy customers were already paying 61% more for their electricity than customers of any other utility in Iowa. With this rate increase, residential customers will see their bills go up an additional 6%, small businesses by 15%, large general service customers without solar by 12.68%, and large general service customers with solar by 15%. “It’s the largest increase that large general service customers have ever experienced,” he adds, citing comments filed with the Iowa Utilities Commission.
This impact on large customers (industry) in Iowa is substantial for communities trying to attract and retain new economic development. Though Alliant offers “individualized rates” intended to attract big business, “they have absolutely zero takers,” Jim explains, because rates are simply prohibitive and continual increases make development in Alliant’s 80 counties in Iowa a risky bet.
Listen to the full interview (between 0:40 and 19:36) HERE.
Posted: November 14, 2024