The Iowa legislature has adjourned without passing a controversial bill that would “pre-pay” for a possible nuclear power plant. Iowa rate payers would have been required to pay an extra fee on their utility bill to give Mid American energy money they could use to potentially build a new nuclear power plant. If the plant was never built Mid American would just keep all the money.
As expected the bill was extremely unpopular with Iowans who opposed it by more than 3/4 of those polled recently. Opposition included a rare mash up of environmental groups and AARP who opposed the bill on the grounds it would be a burden on senior citizens already trying to stretch limited incomes.
Nuclear “cost recovery” bills have been enacted in Georgia, South Carolina and Florida. Some of these projects have already hit up customers for additional rate increases on top of the original rate increase, as costs for the plants continue to rise.
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