Electric company executive says deregulation being misrepresented

An executive at one of Iowa’s utility companies dismisses the predictions of those who oppose deregulation of the state’s electric utilities. MidAmerican Vice President Brent Gale says while electric rates for homes and apartments may go up once utilities begin to compete for customers, the bill allows groups of Iowans to band together to get lower rates.If the bill becomes law, Iowa consumers will still pay a delivery charge to cover the cost of maintaining power lines — a rate that will be determined by the Iowa Utilities Board. However, in a competitive marketplace, Iowans will be able to “shop around” for a company to provide them the electricity — so Gale says it’s hard to estimate what electric bills will be like.Gale says deregulation should bring about cheaper electric rates in the long run as companies compete for business.The Iowa House may begin debating the electric deregulation bill as early as Thursday.