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Faced with opposition to a rate increase, Alliant Energy has reached a proposed settlement with 10 consumer and environmental groups that would lower how much additional revenue the company wants from customers, according to the Des Moines Register.
Under the settlement, Alliant would ask customers to provide $127 million more in revenue annually, about 40% less than the $204 million it originally requested.
Alliant’s original request would have pushed base rates 25% higher, increasing the average consumer’s monthly bill to $102, according to the Iowa Utilities Board, which is holding hearings on the rate increase request this week. Any increase under the settlement would be subject to approval by the board, which oversees investor-owned utilities.
Alliant, which provides electric and gas service across a large part of Iowa, including Mount Ayr, is seeking to increase its base rate, a flat fee that customers pay monthly for service. Customers also pay other costs, including a metered rate for their energy usage.
Alliant customers already have been paying a 5.5% interim base rate increase since April.