Dive Summary:

• The Iowa Utilities Board approved a settlement on MidAmerican Energy’s plans to increase its customers’ electric rates by 6.7 percent over the next two years.
• MidAmerican, which had temporarily raised rates in March, will increase annual revenue by $38.7 million in 2012 thanks to the deal.
• Customers already saw their bills increase $2.33 on average due to the March hike and will see an additional average increase of $1.30 beginning at the start of 2013.

From the article:

Iowa regulators have approved a settlement on MidAmerican Energy's plans to increase electric rates to cover rising costs.

The Iowa Utilities Board says Tuesday the deal allows MidAmerican to increase annual revenue by $38.7 million, or 4 percent, in 2012. The utility temporarily raised rates in March. ...