Iowa’s main wind farm company is being accused of cheating taxpayers out of millions.
MidAmerican En ergy Co.’s Wind VIII project was called a “win-win” for Iowa by Gov. Terry Branstad in 2013. Two years later, the $1.9 billion project came under investigation by the Iowa Attorney General and its Office of Consumer Advocate. The AG said MidAmerican is unfairly benefiting by passing through to ratepayers $3.7 million in costs for wind energy production.
E and E reports the company, one controlled by Warren Buffet’s Berkshire Hathaway Inc. is accused of making consumers pay when wholesale energy prices are negative while keeping the associated federal production tax credits.