Iowa Utilities Commission approves final decision on Alliant rate hikes

DES MOINES — The Iowa Utilities Commission has issued a final decision and order regarding the request from Interstate Power and Light Company, a subsidiary of Alliant Energy, on their request to increase Iowa retail customer electric and natural gas rates.

Alliant a year ago filed an application seeking to hike rates that would result in a revenue increase of about $284 million in electric rates and $14 million in natural gas rates.

The commission’s order approves a non-unanimous partial settlement agreement reached in June, approving a reduction in the annual electric rate revenue increase to $185 million and the natural gas rate revenue increase to $10 million. That will result in an average residential monthly increase in charges for electric customers from $13 to $15.50.

The IUC’s order also approves a conditional electric rate base moratorium through October 2029.