SF 373: Relating to rate-regulated public utilities, including rate proceedings, automatic adjustments, ratemaking principles, and integrated resource plans

What it does

This bill relates to rate-regulated public utilities, including rate proceedings, automatic adjustments, ratemaking principles, and integrated resource plans. The bill directs rate-regulated public utilities to file a general rate case by July 1, 2028, for the Iowa utilities commission to confirm that the utility’s rates, cost allocations, and all other provisions of its tariff are just and reasonable and based on each customer’s or customer group’s actual cost of service. The general rate case must be filed by January 1, 2027, if the rate-regulated public utility has not filed a rate case since July 1, 2022.

Senate subcommittee · named February 26, 2025

• Sen. Mike Klimesh (R) · mike.klimesh@legis.iowa.gov
• Sen. Mike Bousselot (R) · mike.bousselot@legis.iowa.gov
• Sen. Izaah Knox (D) · izaah.knox@legis.iowa.gov

Lobbying · 4 for, 8 against

For: Iowa Business Energy Coalition (IBEC); Iowa Business for Clean Energy; Iowa Economic Alliance; National Federation of Independent Business (NFIB /IA)

Against: Alliant Energy Corporation; Black Hills Energy; Central Iowa Power Cooperative (CIPCO); Iowa Association of Electric Cooperatives; Iowa Association of Municipal Utilities; Iowa Utility Association; MidAmerican Energy Company; Missouri River Energy Services

In plain words

1. February 19, 2025Filed in the Senate and sent to the Commerce committee
2. February 26, 2025Senate subcommittee named: Klimesh, Bousselot and Knox
3. March 4, 2025Subcommittee recommended passing it with changes