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Alliant Energy's Iowa subsidiary filed a partial settlement agreement in its electrical rate case that, with approval from the Iowa Utilities Board, would result in lower-than-expected bill increases for customers in 2020.
The agreement, filed Thursday along with support of the nine of numerous parties to the case, still would result in 'modest” base rate increases from interim rates in 2020, or smaller increases than Alliant originally requested, though the company did not specify exactly how much.
The interim rates, which kicked in April 1, hiked the $116 monthly electric bill for a typical residential customer by approximately $8 each month.
Alliant said it would use one-time credits next year to lessen the initial impact of the rate increase to customers.
The utilities board has until January to reach a final decision on the electrical rates.
Alliant says its 'significant” investments in wind generation will result in lower fuel costs, benefiting customers moving forward.
In 2021, customers also will observe savings as Alliant switches out the nuclear power it buys from the Duane Arnold Energy Center in Palo, which is being decommissioned through late 2020, with new wind generation, the utility said.
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