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MidAmerican Energy Looks to Raise Rates in Iowa

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IOWA CITY, Iowa - MidAmerican Energy is requesting an increase of their base electric rates. If approved, it'd be the first time they've been upped since 1995.

The proposal, before the Iowa Utilities Board, would increase the company's revenue by about $136 million over three years. From 2013 to 2016, the average customer's monthly bill would bump up about $2.70-- about a $35 increase each year. MidAmerican says the increase will help cut their operating and maintenance costs.

One Iowa City man urged officials to think of those on fixed incomes before making a decision. "They pay a much higher percentage of their monthly budget on utilities. I want us all to remember the people here not wearing the $500, or $2,000 suits," said Mike Carberry, from Iowa City.

The Utilities Board's final decision deadline is March 17th 2014. Until then, MidAmerican has applied for a temporary rate increase, which needs board approval by August 15th.

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