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MidAmerican to give customers $42 million from tax savings


The new federal tax code meant $42 million in savings for MidAmerican Energy, which will pass all the savings to customers through a credit on bills. Yearly savings will amount to $20 for an average residential customer and $10 for an average residential gas customer.The federal corporate income tax code lowered MidAmerican’s tax rate to 21 percent from 35 percent. In its filing with the Iowa Utilities Board, MidAmerican Energy also proposed to use other tax-related benefits from tax reform to reduce the need for future price increases.

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