Iowa Okays Alliant Energy Gas Rate Hike - News and Weather For The Quad Cities -

Iowa Okays Alliant Energy Gas Rate Hike

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The Iowa Utilities board has approved a settlement with Interstate Power and Light Company, a subsidiary of Alliant Energy, over a natural gas rate increase.

The board will allow gas rates to increase by 4.8 percent while also including tax credits that will reduce customer costs over the next three years. The utility company had requested a 5.6 percent increase. It has been collecting an interim rate increase of 3.3 percent since June.

The settlement also calls for three years of bill credits to customers, resulting from tax benefits. That means a typical residential natural gas customer should pay about .06 of a percent or 39 cents less per month than before the rate increase. The utility provides natural gas service to 240 communities in Iowa including Clinton, Muscatine and Burlington.