Tell Legislators to Amend the Governor's Energy Bill Before It Hurts Iowans' Health and Pocketbooks

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The Governor’s energy bill (House Study Bill 123/Senate Study Bill 1112) is up for consideration in a House subcommittee on Monday, and it has already passed through a subcommittee in the Senate. This bill has been sold as good for Iowa’s energy sector, but it is actually a blank check for monopoly power companies in Iowa.

Iowa’s for-profit monopoly utilities – MidAmerican and Alliant – are guaranteed a profit of 9-12% on everything they build – every power plant and power line they construct. These energy corporations are focused on delivering a profit to their shareholders, so the companies are incentivized to build as much as possible.

The job of the Iowa Utilities Commission (IUC) is to make sure there is a check on MidAmerican and Alliant’s drive for profit and that they are doing what is right for Iowa customers. But the IUC does not have the necessary tools to make that happen. Reform is needed, but some parts of the bill as written actually make the situation worse by limiting IUC oversight and helping monopoly utilities and big corporations at the expense of small businesses, farmers, and everyday Iowans.

Reform of energy regulation is needed, but members of the Iowa House and Senate must act to amend the Governor’s bill because:

Iowans in Alliant service territory are paying the same rates as the average customer in New Jersey, even while New Jersey salaries are 30% higher. Alliant’s wasteful spending needs a very close look. This bill does not do that.

This bill lets the utilities control their own oversight process. When utilities control the process, they control the outcome and are free to waste our money for their profit.

MidAmerican and Alliant are monopolies – Iowans have no choice in where to buy electricity. The state has allowed two companies to extract massive profits from Iowans over decades, while discharging many tons of toxic pollution into our air, waterways, and groundwater. These emissions reduce life expectancy, send kids to the hospital with asthma attacks, and cause cancer.

Enough is enough. We deserve an open and transparent process for utility oversight that prioritizes the health and wealth of Iowans over Wall Street investors. The conversation about this bill has just begun, and there is still time to change the outcome, if our elected officials hear from us.

Tell your legislator to work to amend this bill to protect Iowa families and businesses.

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Iowa House of Representatives Commerce Committee

Subject: Fix HSB 123./SSB 1112 Before It Hurts Everyday Iowans' Health and Pocketbooks

Message:

I am writing to express my concern with HSB 123 and SSB 1112 – the Governor’s energy bill. This bill must be amended to strike a better balance between monopoly utilities in Iowa and utility customers like me. The legislature decided to create these monopolies and now has a responsibility to prevent wasteful spending that does not benefit Iowa customers. Iowans have to pay for 100% of what utilities spend, plus a profit of 9-12% on anything they build, such as new power generation or power lines. The Iowa Utilities Commission needs better tools to make sure the utilities are not taking advantage of customers. Alliant rates are already the same as average electric rates in New Jersey, where salaries are 30% higher than here in Iowa. MidAmerican has managed to raise rates by 25% since 2014 even without the transparency and oversight of a rate case before the Utilities Commission. The changes to advanced ratemaking and the minimal planning processes laid out in HSB 123 and SSB 1112 as introduced would result in less oversight of utility spending and fewer protections for customers of these monopolies. This is a recipe for more and bigger rate increases – the opposite of what Iowans need and deserve. Please work with your colleagues to amend this bill to provide for reforms that will actually help get utility rates in Iowa under control. Sincerely,

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