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You are here: Home / Business / MidAmerican seeks electric rate increase

MidAmerican seeks electric rate increase

May 13, 2013 By Matt Kelley

Iowa’s largest utility hopes to raise its electric rates. MidAmerican Energy is asking the state utilities board for its first base-rate increase since 1995. If approved, residential customers will pay nearly $3 more a month, on average, starting in August.

It’ll be $8 more a month by 2016, compared to the current rate. MidAmerican officials say the rate hike has nothing to do with last week’s announcement of a near-two-billion dollar investment in building hundreds more wind turbines.

The company says the new crop of turbines should reduce bills one-percent by 2017.

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Filed Under: Business, News Tagged With: Utilities

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