State of Iowa regulators on Thursday issued a ruling granting Alliant Energy the authority to raise rates for electric customers, though not to the level that the utility company initially requested. Additionally, the Iowa Utilities Board determined that Alliant must refund about $7.5 million to customers who paid interim rate increases. Refunds will be issued via bill credits to customers over a 12-month period. In March, Alliant filed an application seeking an increase in electric rates and requesting a permanent annual revenue increase of $203.6 million. Several customers pushed back, and in October, a settlement was reached in which the annual revenue increase would be decreased to $127 million.
