Iowa electric rates will not rise for at least seven more years under an agreement between Mid American Energy and the state. The pact, which extends a 1995 freeze through the year 2010, is part of a longterm plan for Iowa’s energy future, as V.P. Todd Raba explains. He says the company will spend one-point-7 Billion dollars building new power plants and other infrastructure. In north-central or northwestern Iowa somewhere they’ll build what will be one of the world’s largest wind projects, and the location should be announced by the end of the year and be built and running by the end of 2004. Raba says the windfarm should make enough power for 85-thousand households. The company’s just started building a coal-fired generating plant in Council Bluffs, and the first phase of a gas-fired turbine started this spring and the second phase of that Greater Des Moines Energy Center will be done in 2005. Raba says the utility will put another 250-million of environmental upgrades into its existing facilities, part of the one-point-seven Billion figure in the longterm for Mid American’s energy generating future.
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