Alliant Energy Announces Rate Hike That Will Cost You Hundreds
This month, two brand new wind farms from Alliant Energy's Iowa energy company will start generating low cost, renewable energy. It's great news as the state continues to see a boom in wind turbine production and placement by energy companies. But Alliant also wants to recoup the cost of those new turbines so, you guessed it. Your electric rates are about to go up.
Alliant is looking to make up for the cost of the two new wind farms, plus three more that are expected to go online by 2020. Also, the rate increase will pay for more underground wires to help avoid outages and other tools that will automatically respond to reports of outages.
So how much will your bill be going up? Starting next month you'll see an increase of 2%. That will mean around $8 for the average customer. In 2020 another 5% increase is planned which would add another $12 to the average bill. Alliant points out that wind power will eventually make customer bills lower. Try telling that to your average customer who will pay $240 more for power next year.