Home Local News MIDAMERICAN ENERGY RECEIVES PARTIAL APPROVAL FOR NATURAL GAS RATE INCREASE

MIDAMERICAN ENERGY RECEIVES PARTIAL APPROVAL FOR NATURAL GAS RATE INCREASE

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THE IOWA UTILITIES BOARD HAS APPROVED MIDAMERICAN ENERGY COMPANY’S APPLICATION TO INCREASE IOWA RETAIL NATURAL GAS RATES.

THE DECISION FOLLOWS A JANUARY 19TH AMENDED SETTLEMENT AGREEMENT REACHED BY THE PARTIES IN THE PROCEEDING.

THE SETTLEMENT APPROVED BY THE I-U-B INCREASES ANNUAL REVENUES FOR NATURAL GAS SERVICE BY $29,644,821, OR 3.8%.

FOR THE AVERAGE RESIDENTIAL NATURAL GAS CUSTOMER, THAT WILL RESULT IN A MONTHLY BILL INCREASE OF APPROXIMATELY $1.86 OR 2.4%.

THE INCREASE APPROVED BY THE I-U-B IS LESS THAN THE TEMPORARY RATE INCREASE OF 5% THAT WAS IMPLEMENTED BY MIDAMERICAN ON JUNE 22ND OF 2023.

MIDAMERICAN HAS 30 DAYS AFTER COMPLIANCE FILINGS ARE APPROVED TO FILE ITS PLANS FOR INTERIM RATE REFUNDS TO CUSTOMERS.

photo courtesy MidAmerican Energy