The Iowa Utilities Board (IUB) has approved a settlement agreement allowing Black Hills Energy to implement a 19.6 percent annual increase in natural gas revenue, totaling $14.96 million, which went into effect at the beginning of the new year. The settlement stems from Black Hills Energy’s initial request, filed on May 1, 2024, to increase rates by 27.1 percent, or $20.7 million annually. Residential customers will see their average monthly bills rise by 8.3 percent, from $64.82 to $70.21, based on typical usage of 63 therms per month. The agreement, submitted jointly by Black Hills Energy and the Office of Consumer Advocate, was filed on Oct. 15. The Iowa Business Energy Coalition also supported the agreement. While the parties requested to cancel a Dec. 9 hearing, the IUB initially denied the motion to ensure no unresolved issues remained. After reviewing the settlement, the IUB canceled the hearing on Nov. 13, concluding no material facts required further examination. Black Hills Energy serves 1.3 million customers in eight Midwest states, including natural gas services here in the listening area. Filings related to the company’s rate increase application are included via the link below.
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