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Iowa Utilities Board approves water rate increase

The Iowa Utilities Board on Monday granted Iowa American Water the authority to implement a 10.37 percent rate increase that will boost annual revenue by $3.9 million.

The decision comes almost 10 months after the company applied for a 13.7 percent rate increase that would have grown annual revenue by $5.15 million.  

However, customer rates will not be set until Iowa American develops and files a new rate design, which the state board must review and approve.

The final order amount includes the utility's previous temporary rate increase on May 9, 2016, that added $2.33 to the average monthly bill and expands its annual revenue by about $2.1 million.

via qctimes.com

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