CEDAR RAPIDS, IOWA (AP) -- The cancellation of Alliant Energy's power plant in Marshalltown eight months ago has left state regulators with a problem of who should pay for planning costs.
The $45.3 million Alliant spent on the project could be passed on to about 500,000 Alliant customers who would have to pay about 1 percent more for their electricity over a five-year period.
The request is part of an 18.9 percent overall electric rate increase for Alliant that the Iowa Utilities Board is considering.
Alliant offered options that lower its requested increase by having minority partners pay $13 million, eliminating $6 million spent on land for the plant and taking the remaining $26.5 million from a regulatory reserve account.
The Iowa Utilities Board is expected to rule by late January.
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