On May 17, 2013, MidAmerican Energy Company (MidAmerican) filed a proposal to increase its Iowa electric base rates with the Iowa Utilities Board (Board). MidAmerican proposes a total base rate increase of approximately $135.6 million to be phased-in over three years.
On August 15, 2013, the Board issued an order setting temporary rates in this case, allowing the first of MidAmerican’s three proposed $45.2 million increases while its final decision in this case is pending. The average residential monthly bill will increase about $2.73 (3.6 percent) under temporary rates. However, the temporary rates and charges collected are subject to customer refund, with interest, if the Board establishes final rates that are less than temporary rates. The utility’s proposed January 1, 2015, second part and January 1, 2016, third part of its phase-in request will be addressed in the Board’s decision on final rates, which is anticipated by March 17, 2014. Under MidAmerican’s full rate increase application, the average residential monthly bill increase would be an additional $2.75 (3.5 percent) in 2015 and $2.68 (3.3 percent) in 2016.
MidAmerican’s petition also includes a 10-year rate equalization plan to balance rates in its East, North, and South service territories, which resulted from past utility acquisitions and mergers. The proposed consolidation of rates in the various rate zones would begin in 2014 and would be revenue neutral (not increase MEC revenue). Rate impacts will vary based on customer class and service zone. As part of the proposed rate increase, MidAmerican is also seeking permission to add two adjustment clauses to Iowa customers’ bills to help cover the costs of energy production and transmission.
All documents filed in this rate case, Docket No. RPU-2013-0004, are available on the Board’s electronic filing system. The Board is also accepting written comments with the most effective comments being concise and making specific points supporting or objecting to the rate request. To file written public comments, please use the electronic comment form, or email firstname.lastname@example.org, or send by mail to the Iowa Utilities Board, Executive Secretary, Docket No. RPU-2013-0002, 1375 E. Court Avenue, Rm. 69, Des Moines, Iowa 50319-0069.
Customer Comment Meetings Held
MidAmerican provides electric service to approximately 641,000 customers in Iowa. Eight customer comment meetings were held in this case:
- Iowa City: June 13, 2013.
- Des Moines: June 17, 2013.
- Storm Lake: June 18, 2013.
- Council Bluffs: June 24, 2013.
- Sioux City: June 25, 2013.
- Davenport: June 26, 2013.
- Waterloo: June 27, 2013.
- Fort Dodge: July 2, 2013.
All verbal comments provided at the customer comment meetings, and all written comments received, are part of the permanent file for this rate case.