(Des Moines)– The Iowa Utilities Board has denied Alliant Energy’s full request for a rate increase for its Interstate Power and Light subsidiary, which means customers will be getting a refund.
Alliant asked for a 13 percent increase, or nearly $150 million. Regulators Wednesday approved an increase of $114.5 million, or 9 percent. That’s less than a temporary increase of $119 million implemented in March, which means customers will get a refund of about $4.5 million.
The board approved Alliant’s request for automatic recovery of its transmissions costs, but only if it agrees to a minimum three-year rate freeze.
Alliant spokesman Ryan Stensland says the company is reviewing the board’s decision.
(From the Associated Press).
