Customers of MidAmerican Energy in Iowa will soon get a break on their bills. Following action by the state legislature last year, the company will be required to spend less on its energy efficiency programs, and pass the savings on to homeowners and businesses.
Company spokesman Geoff Greenwood says in recent years MidAmerican has been spending around 7 per cent of its electric revenue to offer a wide range of energy efficiency programs. But the new law requires it to spend no more than 2 per cent of electric revenue and 1 1/2 per cent of its natural gas revenue.
"Statewide in Iowa we expect the savings to be approximately 80-90 million dollars per year. If you break it down per customer here in Iowa, that equates to about 80 dollars a year for the average residential gas and electric customer."
Greenwood says the Iowa Utilities Board will probably give its final approval to MidAmerican's new five-year energy efficiency plan next month, with implementation starting in April. But he doesn't know exactly when the savings will start showing up in monthly bills.
The company will continue to offer a wide range of help, including rebates for new equipment like furnaces and air conditioners, appliance recycling, and online assessments with suggestions on how to use less energy.
