MidAmerican Energy Co electricity rates

It is the dominant supplier in Iowa, serving 632,436 residential customers, so its pricing effectively sets what the state average looks like. At 11.01¢ per kilowatt-hour it is one of the cheaper places to buy electricity in Iowa, 22.1% under the statewide average of 14.14¢.

Consumption is close to the national norm at 791 kilowatt-hours a month against 871, so the rate translates fairly directly into the bill.

A shareholder-owned company whose rates are set by the state regulator, including an approved return on the capital it has invested. That matters because a bill is not only the cost of generating electricity: it also carries the cost of the network, and who owns that network changes how it is paid for.

In 2024 the average MidAmerican Energy Co customer went 219 minutes without electricity across 1.27 interruptions. The median across the 941 utilities that report this is 185 minutes.

That is worse than typical. Overhead lines through wooded or storm-exposed terrain are the usual explanation, and the fix is vegetation management and circuit automation, both of which are recovered through rates.

MidAmerican Energy Co offers time-of-use pricing to residential customers. 101 households were enrolled, about 0.1% of its residential base.

These plans are opt-in almost everywhere. They reward households that can move laundry, dishwashing, water heating or electric vehicle charging out of the late-afternoon peak, and they cost more than the standard rate for households that cannot. How to tell which group you are in.

4,482 residential customers had net-metered solar in 2024, totalling 36.81 megawatts. That works out to 7.1 installations per thousand customers, against a median of 8 across the utilities reporting it.

Adoption is below the national median. A low retail rate reduces what solar displaces, and export compensation set at avoided cost rather than the retail rate reduces it further. What exports are actually worth.