© 2022 WVIK
Listen at 90.3 FM and 105.7 FM in the Quad Cities, 95.9 FM in Dubuque, or on the WVIK app!
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Economy

Tax Reform Means Lower Utility Bills

MidAmericanEnergy.Logo_.jpg

Thanks to tax reform, utility bills will start going down soon. MidAmerican Energy says bills will be lowered for its Illinois customers starting in April, and probably for Iowa customers in May.

Spokeswoman Tina Hoffman says the company's tax rate dropped from 35 to 21 per cent, and as a result Illinois electric and natural gas customers will save about 50 dollars per year. The average Iowa customer would save 30 dollars.

But tax reform will affect more than just MidAmerican's corporate tax rate.

"And what we're proposing to do is create an account that captures these benefits that will help us in the long-term make sure that we reduce the size of even the need for future rate cases. So eventually that keeps rates low for customers well into the future."

Hoffman says the Illinois Commerce Commission has already approved the company's proposal and the savings should show up in residential bills this month. However the Iowa Utilities Board has not yet approved MidAmerican's proposal but she thinks it could lower Iowa bills beginning in May. 

A native of Detroit, Herb Trix began his radio career as a country-western disc jockey in Roswell, New Mexico (“KRSY, your superkicker in the Pecos Valley”), in 1978. After a stint at an oldies station in Topeka, Kansas (imagine getting paid to play “Louie Louie” and “Great Balls of Fire”), he wormed his way into news, first in Topeka, and then in Freeport Illinois.