Des Moines Register: Lawmakers Should Change How Investor-Owned Utilities Get Rate Hikes
Iowa Business for Clean Energy, in conjunction with the Iowa Economic Alliance, the Large Energy Group, and the Iowa Business Energy Coalition, has four recommendations for the Iowa Legislature to consider adopting. The four influential business groups are aligned and are calling for reform.
Des Moines Register Article
On November 12, 2024, the DesMoines Register published an article explaining the situation surrounding this Press Release and why all Iowans need to learn more about this subject. Tap this button below to read the article on the Register website.
Press Release
The Business community is aligned on this issue. The time for reform is now. Tap the button below to read what these business groups think we need to do to reform our electricy sector in Iowa. The full version of the press release is available to read here.
In 2023 the Iowa Legislature contracted with London Economics to produce a report with energy policy reform recommendations. Now is the time to bring these recommendations to reality. Now is the time for the Legislature to take the side of Iowans and not the side of monopoly electricity companies.
1) Requiring a robust Integrated Resource Planning process, overseen and approved by the Iowa Utilities Commission.
2) Reforming advance ratemaking, which is a process that has resulted in Iowa’s investor-owned utilities receiving significantly higher returns than Iowa’s peer states.
3) Restricting automatic rate adjustments and requiring a regular cadence of rate cases, which gives the Iowa Utilities Commission adequate controls and comprehensive oversight; and
4) Enabling customers to be a part of the solution, through rates that value customer-owned generation and actions fairly compared to utility assets.
The London Economics study can be found at https://iuc.iowa.gov/press-release/2023-12-21/iub-delivers-legislative-report-regarding-utility-ratemaking-laws-and-procedures. House File 617, passed in the 2023 Legislative Session, directed the Board to conduct the review.
For additional information, you may contact Bob Rafferty of Iowa Business for Clean Energy directly at (515) 314-9462 or rafferty@raffertygroup.com.