It’s good that the city of Albert Lea is fighting the Alliant rate hike.
In a time when inflation is at a mere 1.1 percent and when economists are worried about deflation, Alliant Energy hiked rates last month by 22 percent.
Ouch!
According to the Wall Street Journal, second-quarter profits for Alliant Energy jumped 55 percent. That’s impressive. It posted a profit of $52.5 million, compared to $33.8 million before.
Where is Alliant’s justification?
City officials say the impact of the proposed rate increase would cost the city alone about $236,000 per year.
People can’t afford this. They have to pay their own power bills and they have to pay the taxes that help pay the city’s power bills.
The city — Alliant’s largest customer in Minnesota — will be represented when the issue comes in front of the Minnesota Public Utilities Commission later this year and next spring.
Unfortunately, any decision would come after residents have emptied their wallets to survive the winter.