DES MOINES, IOWA (AP) -- Saying it needs funds for its Whispering Willow wind farm and for transmission upgrades, Alliant Energy is asking Iowa regulators for a 14 percent rate hike.
The request comes in the wake of a 7 percent electric rate increase in January for Alliant's 525,000 customers in eastern, northern and southern Iowa.
In a statement Wednesday, the utility indicated the request is intended to increase annual revenues by approximately $163 million. In the meantime, the utility intends to impose a 10 percent rate increase on March 20, which will remain in effect until the Iowa Utilities Board makes a final decision.
Currently, Alliant customers pay an average of 11.48 cents per kilowatt hour. That compares to 8.24 cents per kilowatt hour for MidAmerican Energy's 770,000 Iowa electric customers.
The IUB will hold public hearings on the rate increase request later this year.
(Copyright ©2010 by The Associated Press. All Rights Reserved.)
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