CEDAR RAPIDS, Iowa — Alliant Energy says it cashed in on the federal tax reform bill passed in December and they are now passing those savings on to customers.
Alliant Energy announced on Tuesday that it expects to save nearly $75 million per year thanks to the new tax law. Alliant says it plans to use those savings to offer rebates to customers. The average electric customer will save $50-$60 per year, according to Alliant. The average natural gas customer would save $30 per year.
Alliant is still waiting on the Iowa Utilities Board to approve the rebate plan. Once approved the rebates would begin in the summer.
MidAmerican Energy has already announced a similar rebate plan.