MidAmerican Energy Co. recently filed an application with the Iowa Utilities Board for approval of its proposed 2019-2023 Energy Efficiency and Demand Response Plan, designed to reduce customer bills while continuing to create energy efficiency savings.
The proposed plan meets the requirements set forth in Senate File 2311, a bill signed into law by Governor Kim Reynolds earlier this year. The new law updates energy efficiency spending, implementing caps that will result in savings for MidAmerican Energy’s Iowa customers of nearly $84 million per year. For customers with gas and electric service that equates to annual savings of $81 for the average residential customer, $172 for the average commercial customer and $12,351 for the average industrial customer.
Energy efficiency is a customer-to-customer program, wherein a portion of all customers’ bills goes toward providing funds that customers can draw from to pay for qualifying products and services that save energy. MidAmerican Energy does not profit from the program. Beginning in 2019, customers will see the mandated energy efficiency charges on their bills helping them to more fully understand the cost they pay into the programs. Prior to the passage of SF2311, this disclosure was prohibited.
“MidAmerican Energy is offering our customers the best of both worlds,” Adam Wright, president and CEO, said. “MidAmerican Energy’s proposed energy efficiency plan will put money back into our customers’ pockets and still provide a wide range of programs to encourage taking action to save energy. And, given the maturity of today’s energy efficiency marketplace, coupled with our continued 100 percent renewable energy commitment, it’s the perfect time to rebalance the program to match the times.”
In the proposed plan, MidAmerican Energy offers customers 14 robust energy efficiency programs that are designed to achieve significant energy savings. These programs include online home energy assessments, incentives to replace older HVAC equipment with new high-efficiency models, appliance recycling, and rebates to purchase smart thermostats, to name a few. Some programs will no longer be offered under the proposed plan, including the Plant Some Shade, Upstream Retail Lighting and Residential New Construction programs.
The Iowa Utilities Board will conduct proceedings to review MidAmerican Energy’s proposed plan and will take action by March 31, 2019. Until a new plan is approved, the company’s existing energy efficiency programs remain in effect.
The full announcement by MidAmerican Energy is at the utility’s website at this link.