KWWL reported earlier this morning that the Iowa Utilities board approved their final decision to increase customer's electric rates. The request from Alliant Energy increases the monthly charge of $11.50 to $13 for resident customers and from $19 to $20 for general service customers. A refund has also been put into place of $7.5 million for customers paying interim rates. In addition, a monthly fee of $4.06 has been put into effect for customers choosing an opt out of advanced metering infrastructure meter. Yet, it does not allow Alliant to charge a fee to customers choosing a reduced pulse meter.

It also establishes a principle  that a return on equity on interim rates cannot be higher than the return on equity for proposed final rates. Changes are not set to take place until the board completely reviews and accepts the proposal.

Read more on the full story from KWWL here.

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