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MidAmerican Rate Increase Meetings

Storm Lake, IA (KICD-RI)–The Iowa Utilities Board begins hosting eight public meetings Thursday on the proposed electric rate increase requested by MidAmerican Energy.

I-U-B spokesman, Rob Hillesland says MidAmerican filed a petition to increase its permanent base rates to generate approximately 135-point-six million dollars additional revenue annually. They are proposing that that be phased in over three years, and so the board has 10 months to make a decision on that permanent rate proposal. The process allows MidAmerican to start collection a temporary rate pending the approval of the board.

The request for the permanent rate increase is NOT connected to MidAmerican’s decision to refund money to customers that was not used in its study of the feasibility of building a new nuclear power plant. Hillesland says it is also not related to MidAmerican’s announcement that it will lower rates as the company builds new wind power turbines. The upcoming meetings are for comment on this proposed rate increase.

If you can’t make one of the public meetings, you can provide written comments.

The closest meeting will be held this coming Tuesday at 5:30 p.m. at King’s Pointe Resort in Storm Lake.