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Iowa Utilities Board approves rate for proposed Marshalltown electric plant

February 4, 2009 By

The Iowa Utilities Board today approved a rate of return for the proposed new coal-fired power plant in Marshalltown — the last board approval standing in the way of the plant. The board approved a 10.1%  rate of return on investment for the plant that’s proposed by Alliant Energy’s Iowa Power and Light subsidiary.

Boardmembers talked about a slightly higher rate of return based on the one other previous rate case, but chair John Norris says all agreed this rate is a good one. Norris says this rate is lower than the previous case, but still in the midpoint of the range the board set. “And I think that’s reflective of current economic conditions…the reduced risks today than in the past for building generation plants, because we don’t have the risks now of deregulation.”

Boardmember Krista Tanner expressed some concern that a rate lower than the past case might be viewed as a negative by investors who wouldn’t look deeper into the background of the plant. But Norris says they decided this rate would give the company assurance to move ahead. Norris says it assures them a 10.1% return on the investment for the life of the plant and he says they believe that’s a long-term investment that will attract capital to build the plant in this economic climate.

The Utilities Board also set a cap on the cost to build the major portion of the plant at just over $985-million. Norris says it’s important to know that the cost cap is set as a target for the company based on a 10-point-one percent return on the investment, but if the plant costs more to build, the company would have to come back to the board to request an increase.

The board also discussed a requirement made earlier in the process that the company had to create 10% of its energy from burning bio-mass or renewable resources. Norris says the board has given the company more flexibility on that requirement. Norris says the company has said they don’t know if they can continuously meet the 10% bio-mass requirement, and he says future boards will have to decide if it is worth the cost to consumers to hold the company to that figure.

Norris says there’s some doubt now as to whether it will be possible for the board to meet the requirement. The process of setting rates ahead of time for new power plants was created in 2001 by the Iowa Legislature in an attempt to spur more investment in plants by giving companies a guarantee on their return. The plant could be completed and up and running by 2013 if everything moves forward. 

Filed Under: Politics & Government Tagged With:

Class 4A: Jalyssa Ceasar, Soux City North

February 4, 2009 By

The senior forward averaged more than 21 points, eight rebounds and five steals in three games. Ceasar scored 17 points on eight-of-12 shooting, hauled down nine rebounds and had seven steals in a victory over Council Bluffs Abraham Lincoln.

Filed Under: INS Player of the Week, Uncategorized

Class 3A: Laura TerHark, Algona

February 4, 2009 By

The sophomore guard averaged 17 points and nearly three assists in three victories. TerHark scored 20 points, including six-of-12 from three point range and dished out seven assists in a victory over Hampton-Dumont. She also had 18 points and 10 assists in a win against Iowa Falls-Alden and finished the week 14-of-32 from behind the arc.

Filed Under: Uncategorized

Class 2A: Tess Myer, Mount Ayr

February 4, 2009 By

The senior guard averaged more than 17 points, nearly six assists and five steals in three wins. Myer scored 20 points, including three-of-six from three point range, added four rebounds, four assists and six steals in a victory over Bedford.

Filed Under: INS Player of the Week, Uncategorized

Class 1A: Molly Bolt, Janesville

February 4, 2009 By

The senior guard had a double-double in both games and averaged 20 points and 10 rebounds. Bolt scored 24 points, added 10 rebounds and added three assists and four steals in a victory over Dunkerton.

Filed Under: INS Player of the Week, Uncategorized

Library use is up as library budgets are being cut

February 4, 2009 By

Library usage is up in Iowa, following national trends. At the same time, many library budgets are being cut as cities look for ways to balance the books. A recent survey by the State Library found that visits to Iowa libraries have increased by seven-percent over the past six months.

State Librarian Mary Wegner says the numbers aren’t surprising. "Two-thirds of all Iowans have library cards that they use and so we’re not surprised to find this increased use," Wegner says. "We are concerned about what these tough economic times will mean for libraries, but we want to remind Iowans that libraries are a great bargain and a great service to them in these days."

A survey of 50 public libraries serving more than half of the state’s population shows usage has more than doubled in the last six months as the economy has soured. Des Moines city officials have asked the capitol city’s public libraries to find 300-thousand-dollars in cuts.

Des Moines Public Library director Saul Amdursky says it’s the "perfect storm." "When you do community surveys, libraries invariably are the most beloved of community institutions, you know, when you’re rating them, you know, against fellow departments, but city managers will take a look and say: ‘The last thing I can cut are police and fire and sewers, you know, operations,’" Arndursky says.

"So while you have libraries as the most beloved, they are probably the most vulnerable when it comes to budget cuts."

Amdursky and Wenger made their comments on Iowa Public Radio’s "Talk at Twelve" program.

 

Filed Under: Human Interest

Lawmakers consider more disclosure for groups that run ads

February 4, 2009 By

State lawmakers are considering new disclosure requirements for groups that run advertising that closely resemble campaign ads. The Iowa Futures Fund ran commercials last fall criticizing the governor for increasing spending and providing tax breaks to Microsoft.

The ads did not urge voters to support or oppose Culver, so the Futures Fund was not required to disclose its donors. Senate president Jack Kibbie, a Democrat from Emmetsburg, says people ought to know who is paying for such ads. "I think anything we can do to get transparency in these elections, why we ought to be for that," Kibbie says.

The Iowa Campaign Disclosure Board proposed the legislation that requires groups to report donors if they spend more than $750 and run ads within 45 days of an election. Kibbie says there is some opposition.

"I know there’s some people that have a little heartburn about that bill -we’ll visit with them some more, Kibbie says, "by and large I think most people are in favor of it to get more transparency out there." The Iowa Civil Liberties Union opposes the bill on the grounds that it violates free speech laws.

 

Filed Under: Politics & Government Tagged With: , ,
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