Don't let Iowa raise electric rates to subsidize new reactors
|[Photo by Edibobb via Wikimedia Commons]|
The nuclear industry’s dirty secret is that it cannot afford to build new reactors without public handouts. This is why it is trying to increase electric rates for proposed nuclear reactors in Iowa now, even though the power would not come online for years -- if ever. If construction stops or MidAmerican Energy cancels the projects, consumers would still be stuck with the rate increases.
The Iowa legislature is considering a bill that would allow MidAmerican to charge consumers for these unbuilt reactors. Under similar legislation in Florida, families have seen their rates rise substantially, as cost estimates continue to increase for a plant that still isn't constructed. It is unfair for the Iowa legislature to allow MidAmerican -- a private utility company -- to make Iowans responsible for the financial risks.
We successfully stopped this bill from moving forward last year, but MidAmerican has lobbied to bring it back for this session.