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Regulators OK revised Alliant rate increase

Company has been phasing in new rates since last year

(FILE PHOTO) The Veteran's Memorial Building is reflected in the CRST building on Sunday, Oct. 8, 2017. The American Building is under construction at left, and Linn County Courthouse and Alliant Energy buildings are shown at right. (Liz Martin/The Gazette)
(FILE PHOTO) The Veteran's Memorial Building is reflected in the CRST building on Sunday, Oct. 8, 2017. The American Building is under construction at left, and Linn County Courthouse and Alliant Energy buildings are shown at right. (Liz Martin/The Gazette)

Alliant Energy’s request made last year to increase customer energy rates was approved Friday in a settlement agreement by the Iowa Utilities Board.

Interstate Power and Light Company — Alliant Energy’s parent company — last April applied for an approximately $175.5 million, or 11.6 percent, increase in electric rates.

That request was amended to about $168 million, and the final increase was adjusted downward more to $130 million, or about 7.8 percent, in the settlement.

Officials with Alliant said the exact updates to customer rates will be known in a few weeks.

In the settlement document, fixed customer charges for residential rates would increase from $10.50 to $11.50. General service rates would go from $17.80 to $19, the document said.

Alliant began phasing in temporary rate increases last spring.

Company officials have said the rate increase, which was estimated last year at between $12 to $14 per month, represents about $2.5 billion in capital investments in the electrical system — into such efforts as power grid upgrades and the new Marshalltown natural gas generating station — since the last increase about six years ago.

Alliant’s average customer bill last year was about $113 monthly. The utility serves about 500,000 customers.

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