Providing for a study to determine the cost and feasibility of acquiring certain public utilities or their assets

This bill provides for a study to determine the cost and feasibility of the state of Iowa acquiring certain public utilities or their assets. The bill includes legislative findings stating that certain public utilities subject to rate regulation are derelict in their obligations to customers and have engaged in conduct unsuitable for entities operating as government-sanctioned monopolies. The bill requires the department of administrative services (department) to work with a large investment firm, selected at the department’s discretion, to conduct a study to determine the cost and feasibility of the state of Iowa acquiring a public utility that is subject to rate regulation under Code chapter 476, or the public utility’s assets within the state, that provides electric and natural gas service to more than 200,000 customers in Iowa and is headquartered outside the state. The bill further requires the study to determine the cost and feasibility of reorganizing or reallocating the assets of any such public utility in a way that maximizes the benefit to electric and natural gas customers within the utility’s current service territory. The bill requires the department to submit a report detailing its findings and recommendations to the general assembly by December 15, 2026.