For the first time since 2010, Alliant Energy rates will increase. Nearly $8 a month for the average residential electric and natural gas customer, beginning January 1st. The PSC agreed to a preliminary approval that would near-double the utility’s fixed monthly charge for electricity, hiking electric rates by 0.83%, bringing in an additional $9.5 million a year in revenue. Alliant initially requested a 1.3%, $12.9 million annual increase. The approval will result in a return on equity of 10% for the company. Customers who voluntarily pay extra to support Alliant’s use of renewable resources will see those costs drop to 1.4 cents/kWh from the current 2 cents/kWh under the rate case.