MidAmerican Rate Hike Request
May 13, 2013
Another utility serving the Quad Cities wants to raise its rates. One week after an interim increase went into effect for the Iowa American Water Company, MidAmerican Energy announced it will ask for higher rates.
Spokeswoman Abby Bottenfield says customers were notified last week and a formal request will be filed with the Iowa Utilities Board on Friday. Starting in August, the company wants to raise rates for electric customers in Iowa by about 3 1/2 per cent per year, for three years. These rates have not changed for the past 18 years (since 1995).
MidAmerican would like to increase the average residential electric bill in Iowa, starting in August, by $2.73 per month. Similar increases would go into effect next year, and the following year.
Bottenfield says the company's rates are the seventh lowest in the country, and 40 per cent lower than the national average for investor-owned utilities.