Every rate re-verified: what a digit-check pass caught across five new states

ForgeAsset's coverage now includes Wisconsin, Iowa, Indiana, Louisiana, and Nevada — ten filed tariffs across the five states, bringing the library to forty-six tariffs in twenty-eight states. Every number was re-verified against the currently-effective filed leaf before seeding, and this wave is a case study in why that pass exists: it moved real numbers in three of the five states. Nothing here is advice; it is a description of what the filed tariffs say and how the model prices them.

The verification pass is not a formality#

Each state's research bundle is written days or weeks before it ships. Between the bundle and the seed, rates move: riders reset, rate-case attachments publish, and archived sources go stale. So before any row enters the library, every digit is re-checked against the utility's own currently-effective filed sheet. This wave's pass caught three categories of movement:

• A rider that finally published. Entergy New Orleans' storm-reserve rider had no current attachment when the Louisiana research was written, so the bundled rates omitted it. The January 2026 attachment has since posted: +24.6% of base-rate revenue for the large-electric class. Folding it moved the modeled energy rate up 17% and the demand figure up 24% — an understatement repaired before it could ship.
• Quarterly fuel resets. NV Energy adjusts its fuel components every quarter, and the July 2026 reset landed between research and seeding — both Nevada books moved down about half a cent per kWh. The Nevada numbers also carried a second requirement: the original research could only reach archived copies of the tariff sheets, so the pass re-confirmed every digit against the stamped tariff leaves in the state commission's docket system before anything seeded.
• Rider rows the research missed. Iowa's pass found two: a demand-response charge on MidAmerican's efficiency rider sheet and a demand-response cost-recovery rider referenced from Alliant's own rate sheet. Small numbers — a tenth of a cent here, two tenths there — but the point of the pass is that they surface before a user sees a modeled bill.

Two demand-charge extremes in one wave#

Indiana ships the heaviest demand charge in the covered set: AES Indiana bills about $26.47 per kilowatt-month after sales tax, and at charging-site load factors that is 85% of the Indianapolis utility bill. No filed EV-host schedule exists to route around it.

Iowa ships both ends of the spectrum at once. MidAmerican — serving Des Moines, Iowa City, Davenport, and most covered metros — bills about $6.74 per kilowatt-month on a plain monthly peak with no ratchet and no window. Alliant's Cedar Rapids book bills about $32.08, five times heavier, on the peak inside a weekday daytime window. Same state, same hardware, roughly $38,000 a month of difference at default volumes.

A deliberate conservative choice in Madison#

MGE's Madison tariff includes a low-load-factor provision that halves the on-peak demand rate for sites under 15% annual load factor — worth about $10,600 a month at model scale. The model carries the un-halved rate anyway. The provision lapses once load factor reaches 15% in two months of twelve, which a busy site crosses; carrying the discount by default would understate exactly the sites that succeed. The provision and its threshold are disclosed alongside the modeled figure, so a site owner who stays under the line can see what relief the tariff offers.

Louisiana prices in two layers#

Entergy's Louisiana base rates are among the cheapest filed numbers in the covered set — and its formula-rate-plan stacks multiply base revenue by roughly 2.24 to 2.26 before the fuel factor lands. The modeled figures fold the full stack, penny-checked against the utilities' own bill-calculation examples. New Orleans is its own regulatory island, where the City Council regulates the utility and the rider stack adds about 30%. The whole structure resets each September on the Entergy Louisiana books and each January in New Orleans, and the library re-derives at each reset.

Nevada simplifies two things the model usually approximates#

Nevada levies no sales tax on delivered electricity, so the stamped tariff totals seed directly with no multiplier. And with no state income tax — the Commerce Tax exempts businesses at or below $4 million of Nevada revenue — the engine's federal-only income-tax treatment is exact for a single-site operator rather than an approximation. The demand charge concentrates into a single 3–9 p.m. daily summer window that coincides with a charging site's peak, and both books carry the July 2026 quarterly fuel reset.

Three charging taxes, three designs#

The wave adds two states with per-kWh charging taxes in force — Wisconsin at 3 cents (since January 2025, measured on dispensed energy whether or not the driver pays) and Iowa at 2.6 cents (since July 2023, with driver-side sales relief where the excise applies) — and three states with none: Indiana, Louisiana, and Nevada all fund roads from EVs through vehicle-side registration fees that never touch site economics. Where a tax exists the model carries it from year one; where none exists the zero is documented against the state's own sources.

Each state's guide covers its tariffs, tax stack, and programs: Wisconsin, Iowa, Indiana, Louisiana, and Nevada. The methodology page documents the derivation conventions, and every figure traces to a filed source.