Consumer advocate seeks to cut Interstate’s rates even more

Iowa Consumer Advocate John Perkins is now asking for a bigger decrease in the electric rates charged by Iowa Power and Light Company. Perkins says they’d previously sought a six-point-three million-dollar decrease, but have amended that to seek a 22-point-four million-dollar decrease. The company, a subsidiary of Alliant Energy, is asking for an 82-million dollar rate increase. Perkins says he revised his request for a decrease after a closer inspection of the company’s books. He says they discovered that Alliant Energy is guaranteeing a 952-million dollar loan for another subsidiary that’s not regulated like Interstate Power. He says Interstate customers should benefit from that loan instead of the shareholders of the company. The Iowa Utilities Board will make the decision on whether to increase or decrease the company’s rates. The Utilities Board will hold a hearing on the case in October, and will issue a ruling on April 15th. Interstate provides electricity to Cedar Rapids, Marshalltown, Marion, Boone, Keokuk, Fort Madison, Burlington, Ottumwa, Newton, Grinnell, Creston, Dubuque, Clinton and Mason City.