MidAmerican Energy Files Plan With IUB To Pass Along Tax Savings To Customers
(Des Moines)-- MidAmerican Energy says it is proposing to return 100 percent of savings from the income tax rate change to its customers through lower bills.
The utility provider filed a plan Thursday with the Iowa Utilities Board that it says will total $42 million in savings to customers by issued credits on monthly utility bills through 2018.
In the filing, MidAmerican Energy also proposed to use other tax-related benefits from the tax reform to reduce the size of any future rate increases that may be needed.
The IUB issued an order February 27th requiring rate-regulated utilities to file proposals detailing how they would provide customers with the benefits realized from the federal tax rate reduction.
If approved by the IUB, MidAmerican Energy customers would start to see savings beginning with their May bill.