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MidAmerican Seeks Base Rate Increase for Iowa
DAVENPORT, Iowa (AP) - MidAmerican Energy Co. is seeking permission from the Iowa Utilities Board to increase electricity rates, saying it's the first base-rate increase the utility has sought since 1995.
The Quad-City Times reports that if approved, the rate would go into effect in August. MidAmerican says the increase would cost the average residential customer an additional $2.73 a month in 2013 and continue to rise over the next few years. By 2016, the average residential customer would be paying about $8 more a month than the current rate.
MidAmerican spokeswoman Tina Potthoff says the rate increase request is not related to the utility's announcement Wednesday of a $1.9 billion wind energy project.
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