Why Should Iowans Pay for Stockholders’ Interests?

If a nuclear feasibility study is needed for Iowa, it should be independently done.

Teresa Galluzzo
Teresa Galluzzo

MidAmerican Energy asked the Iowa Legislature for $15 million of ratepayer money, mine and yours, to explore whether it should build a nuclear plant in Iowa. While I firmly agree that Iowa ought to aggressively pursue options to reduce greenhouse gas pollution, I find it very unsettling that state lawmakers overwhelmingly approved this request.

MidAmerican Energy must put its shareholders’ interests first and thus the company’s feasibility study would necessarily prioritize how a nuclear plant would perform for stockholders before the impacts on rate-paying Iowans.

Even as a leader in wind-powered generation — 17 percent to 20 percent of our electricity production — and energy efficiency, both thanks, in part, to substantial efforts by MidAmerican Energy, Iowa must continue to evaluate its energy future, because we need to do more to address climate change. If it is necessary to study further whether new nuclear plants are a viable part of our generation mix, such research should be done by an independent group and include analysis of how nuclear would impact Iowans’ rates and safety.

Governor Culver should consider this before joining the General Assembly in a giveaway — from utility customers’ pockets — to MidAmerican Energy for a study that could perhaps be done by an independent group at less expense to Iowans.

Author: iowapolicypoints

The Iowa Policy Project is a nonprofit, nonpartisan organization that provides research and analysis to engage Iowans in state policy decisions. We focus on tax and busget issues, the Iowa economy, and energy and environmental policy. By providing a foundation of fact-based, objective research and engaging the public in an informed discussion of policy alternatives, IPP advances effective, accountable and fair government.

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