On September 23, 2022, the Iowa Utilities Board issued an order setting a revised procedural schedule and public hearing dates for MidAmerican Energy Company’s (MidAmerican) August 19, 2022, motion regarding its January 19, 2022, application for approval of advance ratemaking principles for the company’s wind and solar project called Wind PRIME. The application was filed January 19, 2022, in Docket No. RPU-2022-0001. 

MidAmerican’s proposed project would add up to 2,042 megawatts (MW) of new wind generation and up to 50 MW of solar generation in its fleet. The application seeks to establish the customer rate impacts when the utility adds the generation for Wind PRIME, which MidAmerican targets for completion by the end of 2025 if approved.

MidAmerican’s Wind PRIME application proposes 11 advance ratemaking principles, including a ratemaking principle relating to Technology Study Costs associated with the study and review of carbon capture and sequestration, energy storage, and small modular nuclear reactors. 

Iowa Code § 476.53 allows Iowa rate-regulated utilities an opportunity to add electric generation in Iowa and to receive advance ratemaking decisions from the IUB.  As part of the request, the utility is required to show it has an energy efficiency plan in place and it has considered other generation options. An advanced ratemaking principles case is a contested case proceeding before the IUB.