HEATING COSTS: MidAmerican Rate Increase Approved

iowa utilities board

The cost of keeping your lights on is going up.

On Friday, the Iowa Utilities Board preliminarily approved MidAmerican energy’s plan to increase rates by $135 million over three years.

The first of the increases took place in August when rates jumped on average by $2.73 a month.

Similar size increases would follow in 2015 and 2016. The exact amount is still being determined.

In approving the increases the Iowa Utilities Board placed some requirements on MidAmerican. Among them, a $200 cap on annual increases for residential home owners and a $1,500 dollar cap for businesses.

MidAmerican is also restricted from requesting another rate increase until 2018.

“Overall I think it`s a fair decision for all the right pairs in the state,” Libby Jacobs of the Iowa Utilities Board said. “It will be very difficult to implement just because there are many different pieces to it. But I think we`re all up to that challenge as well.”

MidAmerican Energy is reviewing the new requirements. Final approval of the plan is expected next month.

The last time the rate went up was in 1995.

2 comments

  • William Denison

    We get to pay for all those eyesores”Wind turbines” they have put across our once pretty state. The real kicker is the power they generate gets put out on the grid and sold to other state whos people are not billed for something they will never own. Only in Iowa and only under Terry Braindead.

  • William Denison

    The last time the rate went up was in 1995.Guess who the governor of Iowa was in 1995? Terry Braindead. He cares not for the working class and poor of Iowa. Your going to be paying more for gas of you car,food and houseing as well. Thats how Iowa republincans roll.

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