MidAmerican Energy Company

What MidAmerican Energy Company does

MidAmerican Energy Company is a regulated electric and natural gas utility headquartered in Des Moines, Iowa, serving approximately 838,000 electric customers across Iowa, Illinois, and South Dakota and 811,000 natural gas customers across Iowa, Illinois, Nebraska, and South Dakota. The company maintains 25,000-plus miles of natural gas distribution infrastructure and operates more than 7,800 megawatts of wind generation capacity across more than 3,500 turbines, having invested roughly $15.8 billion in wind and solar across Iowa since 2004. MidAmerican achieved its 2016 goal of producing 100% renewable energy matching Iowa customers' annual usage in 2022 and received approval for an 800 MW solar project, the largest in Iowa history.

MidAmerican is a wholly-owned subsidiary of Berkshire Hathaway Energy (itself part of Berkshire Hathaway), which has committed $8.9 billion in capital expenditures to the utility for 2026-2028, a 65% increase from the prior period. Revenue is generated through regulated subscription tariffs approved by state utility commissions; the company has pending rate adjustments including a 5% Iowa natural gas delivery rate increase (raising typical monthly bills from $55.60 to $58.49) and an Illinois request seeking approximately $300 per year by 2028 across 85,000 customers. Residential electric rates are reported at 44% below the national average, and Energy & Policy Institute analysis identifies profit margins exceeding 27%.

The company's technology portfolio centers on the STAR (Safety Through Asset Reliability) program, which includes more than 2,000 smart sensors on power lines for automated outage detection, TripSaver reclosing fuses for automatic surge isolation and re-energization, FAA-certified drone inspections with infrared cameras for thermal anomaly detection across substations and pipelines, and automated meter reading (AMR) technology. Distribution and customer engagement operate through multi-channel infrastructure including a 24/7 phone service center, My Account online portal, mobile application, real-time Outage Watch map, EDI for business billing, and a network of 100 DC fast-charging EV stations. The company actively pursues large-load customers including hyperscale data centers through its EconomicAdvantage365 program and offers middle-mile fiber broadband to enhance the economic development value proposition of its service territory.

Name

MidAmerican Energy Company

Legal name

MidAmerican Energy Company

Website

https://midamericanenergy.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MidAmerican Energy Company is a regulated electric and natural gas utility headquartered in Des Moines, Iowa, serving approximately 1.65 million customers across Iowa, Illinois, Nebraska, and South Dakota. A wholly-owned Berkshire Hathaway Energy subsidiary, it operates more than 7,800 MW of wind capacity.

Ownership category

akta.pro rank

Product category

Regulated Electric and Natural Gas Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Wind Electric Power Generation (221115)

SIC

Electric Services (4911), Natural Gas Transmisison & Distribution (4923), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Electric Distribution System Owners (Wires-Only Companies) (EUADABAI)

akta.pro secondary industries

Regulated Natural Gas Utility (LDC) Customer Acquisition & Switching (EUAAADAA), Utility-Scale Power Generation Asset Management (EUAEAMAA), Electrical Systems O&M (Substations, Transformers, Switchgear, Protection & Controls) (EUAMAGAH), Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ)

Keywords

• Regulated electric utility
• Natural gas distribution
• Wind power generation
• Energy efficiency rebates
• Utility infrastructure services

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Delivery: MidAmerican Energy generates revenue through regulated electricity delivery services to approximately 838,000 electric customers across Iowa, Illinois, and South Dakota. The company operates generation assets including wind farms and purchases power to meet customer demand, with rates subject to regulatory approval.
2. Natural Gas Delivery: Natural gas delivery services to approximately 811,000 natural gas customers in Iowa, Illinois, Nebraska, and South Dakota. The company has proposed a 5% increase in monthly natural gas delivery rates for Iowa customers, pending Iowa Utilities Commission approval.
3. Renewable Energy Generation: The company operates over 7,800 megawatts of wind capacity from more than 3,500 turbines and has invested approximately $15.8 billion in wind and solar across Iowa since 2004. An 800-megawatt solar project was approved, the largest solar approval in Iowa history.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

MidAmerican Energy Company is a regulated utility delivering electricity to approximately 838,000 customers and natural gas to approximately 811,000 customers across Iowa, Illinois, Nebraska, and South Dakota. The company operates substantial generation assets including more than 7,800 MW of wind capacity, sells energy efficiency rebates and programs, operates a DC fast-charging EV network, and provides economic development services such as middle-mile fiber broadband to attract large-load customers including data centers.

Product overview

MidAmerican Energy Company operates as a regulated utility providing electricity and natural gas delivery services across Iowa, Illinois, Nebraska, and South Dakota. The company's product portfolio centers on core energy delivery (serving 838,000 electric and 811,000 natural gas customers) supported by significant renewable generation assets including over 7,800 MW of wind capacity and growing solar power. Digital services include My Account online portal, a mobile application, and the Outage Watch map. Grid reliability is maintained through the STAR (Safety Through Asset Reliability) program employing smart sensors, TripSaver reclosing fuses, drone inspections with infrared cameras, and aerial inspections. Energy efficiency offerings span HomeCheck Online assessments, smart thermostat rebates, appliance recycling, and the Trees Please! grant program. The company also operates a DC fast-charging network for electric vehicles and offers economic development services including middle-mile fiber broadband. MidAmerican is a subsidiary of Berkshire Hathaway Energy.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Electric Service Regulated electricity delivery service for approximately 838,000 residential customers across Iowa, Illinois, and South Dakota, including outage reporting, billing, and payment options.
• Natural Gas Delivery Regulated natural gas delivery service for approximately 811,000 customers in Iowa, Illinois, Nebraska, and South Dakota, with infrastructure maintained across more than 25,000 miles of gas lines.
• Wind Energy Generation

Quantifiable outcome

• Iowa electric rates driven about 42% below the national average through renewable investments
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature5 records

Scale indicators10 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Alliant Energy: Alliant Energy is a regulated electric and natural gas utility serving Iowa, Wisconsin, and Minnesota with significant renewable generation investments, making it the most direct comparison to MidAmerican's Midwest utility operations and renewable energy portfolio.
• Ameren: Ameren provides regulated electric and gas service in Illinois and Missouri, directly overlapping with MidAmerican's Illinois service territory and sharing similar regulatory frameworks under the Illinois Commerce Commission.
• WEC Energy Group: WEC Energy Group operates regulated electric and gas utilities in Wisconsin, Illinois, Michigan, and Minnesota with significant renewable investments, comparable to MidAmerican's Midwest regulated utility structure and renewable generation portfolio.
• Black Hills Corporation: Black Hills Corporation provides electric and gas utility service across smaller Midwest and Plains states including South Dakota and Nebraska, directly overlapping with MidAmerican's service territory and customer base demographics.
• PacifiCorp: PacifiCorp is a Berkshire Hathaway Energy sister utility operating regulated electric service across six Western states, directly comparable as a fellow BHE subsidiary with similar capital structure, ownership, and renewable integration challenges.

Broad incumbents

• Xcel Energy: Xcel Energy operates regulated electric and gas utilities across multiple Midwestern and Western states with substantial wind generation, comparable to MidAmerican's renewable leadership and similar regulated multi-state operating model.

Emerging players

• NextEra Energy: NextEra Energy is the world's largest generator of wind and solar energy through its Florida Power & Light and NextEra Energy Resources subsidiaries, representing the renewable generation scale benchmark MidAmerican is approaching in Iowa.
• ITC Holdings (Fortis): ITC Holdings operates independent electric transmission infrastructure across the Midwest, comparable to MidAmerican's transmission operations and grid reliability investments in overlapping service territories.

Others

• Berkshire Hathaway Energy (Parent): Berkshire Hathaway Energy is the parent company and primary capital source for MidAmerican, with $33.3 billion in planned 2026-2028 capex across all subsidiaries, providing context for MidAmerican's investment capacity and strategic positioning.

Regional players

• Avangrid: Avangrid (majority-owned by Iberdrola) operates regulated electric and gas utilities in the Northeast, providing comparable vertically-integrated utility benchmarks with renewable generation integration similar to MidAmerican's strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MidAm_EnergyCo
• YouTubeyoutube.com/user/MidAmericanEnergyCo
• Facebookfacebook.com/pages/MidAmerican-Energy-Company/254494964563629
• LinkedInlinkedin.com/company/midamerican-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MidAmerican Energy Company