Electricity is generated through a variety of sources including coal and natural gas. With increasing regulations on coal and volatile natural gas prices, adding diversity to our options only makes sense.
HF 561 being considered by the Legislature will allow the Iowa Utilities Board to determine if nuclear power is right for Iowa. The Iowa Utilities Board will have the authority to determine if a nuclear power plant should be built to diversify Iowa’s energy resources.
As amended in the Senate Commerce Committee, the bill contains the strongest consumer protections of any energy legislation enacted. Consumers will not be asked to make any type of pre-payment for construction of a plant.
If the Iowa Utilities Board decides nuclear power is a viable option to pursue, MidAmerican Energy will invest the entire amount needed to build a plant over an 8-10 year period.
Consumers would be charged the financing costs on the investment and return on the investment over the projected 40 to 60 year life of the plant.
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