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MidAmerican Energy seeking new approach to boost electric rates

on Thu, 12/08/2011 - 21:36   by Editor

MidAmerican Energy wants to boost electric rates, and is proposing a first-ever "environmental compliance" adjustment clause to reflect those costs on customers' electric bills.

The privately owned utility says it plans to seek approval for an overall 3.5 percent rate increase in February 2012. Interim rates could be in place by March.

Rather than file a general rate case, the utility has outlined in filings with the Iowa Utilities Board (IUB) that it wants to add two automatic adjustment clauses for "environmental compliance" and "coal and coal transportation" costs.

Isle of Capri, Inc. loses $1.5 million in 2nd quarter, admissions decline 5% at Bettendorf casino

on Tue, 12/06/2011 - 01:47   by Editor

Isle of Capri Casinos, Inc. lost $1.5 million in its second quarter ended October 23, while admissions at its Bettendorf casino were off nearly 5 percent for the quarter compared to a year ago.

Second quarter revenues for the Isle corporation were $247.5 million, up from $246.7 million for the same period last year. However, increased expenses resulted in the loss of 4 cents per share. A year ago, the Isle lost 3 cents per share ($1 million) during the second quarter.

Lee Enterprises plans voluntary 'prepackaged' bankruptcy filing by Dec. 12

on Mon, 12/05/2011 - 22:47   by Editor

Lee Enterprises -- owner of the Quad City Times and Muscatine Journal -- says it plans to file a "prepackaged" voluntary Chapter 11 bankruptcy plan by Dec. 12 as it moves to finalize a debt restructuring announced in September.

The newspaper chain said it wasn't able to get about 6 percent of its senior lenders to agree to the restructuring plan and needed to use the bankruptcy process to complete the refinancing deal. Lee's properties in Tucson, AZ and Madison, WI, are not part of the planned filing.

Muscatine community organization seeks to intervene in GPC lawsuit

on Mon, 12/05/2011 - 20:47   by Editor

A Muscatine citizens' group says it will seek to intervene in the state's lawsuit seeking an injunction and civil damages against Grain Processing Company (GPC) for alleged violations of state and federal pollution laws.

Clean Air Muscatine (CLAM) is a non-profit corporation established for the purpose of protecting communities in Muscatine County from pollution.

Attorney general files suit against GPC over air, water pollution control

on Fri, 12/02/2011 - 20:59   by Editor

Seven months after the Iowa Environmental Protection Commission recommended legal action against Grain Processing Corp. (GPC) for alleged violations of pollution control laws, the Iowa Attorney General's office filed a lawsuit against the Muscatine firm.

The lawsuit in Muscatine County District Court cites many of the same findings alleged in the environmental commission's April 19 recommendation.

State seeking $7.8 million city commitment for new I-74 bridge/corridor improvements

on Wed, 11/30/2011 - 20:33   by Editor

The new Interstate 74 bridge may be at least a decade away, but the city of Bettendorf is being asked to commit an estimated $7.8 million for "aesthetic" improvements along the project corridor.

The memorandum of understanding outlining the financial commitments by Bettendorf, Moline, Davenport and the states of Iowa and Illinois is to be voted on at the December 6 council meeting.

The aesthetic components of the project total $46 million and include:

  • The pedestrian/bike lane on the bridge.
  • The pedestrian overlook planned for mid-span of the new bridge.

MidAmerican spends $2.3 million in first year of nuclear plant study; seeks to keep expenses confidential

on Thu, 11/24/2011 - 01:31   by Editor

MidAmerican Energy spent $2.3 million on its nuclear plant feasibility study over the past 16 months, but has asked the Iowa Utilities Board (IUB) to keep details of most of those expenditures confidential.

The privately owned utility company was given approval by the legislature in April 2010 to collect a total of $15 million over a three-year period to pay for the nuclear plant feasibility study.

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