IPL seeks rate increase for natural gas
Tuesday, May 29, 2012 10:42 AM
Interstate Power and Light Co. (IPL) is requesting approval of a rate increase from the Iowa Utilities Board and will increase the price for natural gas service on June 4, at a lower interim rate until rate increases are approved.
IPL said average customers will see a rate increase of about 7.9 percent, or $5.07 a month, if the request is approved. During the interim period, customers will see a price increase of about 3.4 percent, or $2.17 per month.
Tom Aller, president of IPL, said in a release the intention of raising rates is to regain an investment of $70 million the company has made in Iowa's infrastructure in the last seven years. IPL said it hasn't raised rates in the past seven years.