The Iowa Utilities Board (IUB) recently completed a review of Iowa utility ratemaking laws and procedures. The Iowa Legislature in 2023 directed that the review study be undertaken through the passage of House File 617. The IUB opened Docket No. NOI-2023-0001 and engaged an independent consultant, London Economics International, LLC (LEI), to research issues, perform the study, and seek input from stakeholders.

The study process and timeline were designed to ensure robust results while also maximizing stakeholder involvement. With this in mind, the study was conducted in two parallel paths. In the first, LEI conducted independent research and analysis on the policy objectives, drawing upon its utility expertise. IUB staff worked with LEI throughout this process to ensure accuracy and to answer questions on current ratemaking laws, rules, and procedures.

In the second path, a series of oral discussion sessions was conducted with the opportunity for participants to provide written comments prior to and following each session. Discussion sessions were held on August 30-31, September 26-27, and November 1, 2023. These sessions were well attended, both in person and virtually, and produced valuable insight, dialogue, and debate. 

During these sessions, participants were provided topical prompts and data related to Iowa’s current law and process and information related to the policies of states with similar energy profiles. Over the span of four months, approximately 90 written comments were received from a diverse group of participants that included representatives of Iowa utilities, business and industry, environmental organizations, renewable energy businesses and organizations, the Office of Consumer Advocate, municipalities, citizens, legislative participants, and others. 

LEI has prepared a final report entitled "Review of Current Iowa Code Provisions and Ratemaking Procedures." The IUB was required to submit the final LEI report to the Iowa Legislature by January 1, 2024.