Electricity rates in Southern Nevada coming down 1.47 percent

CARSON CITY — Southern Nevadans can’t do anything about the summer heat, but come Friday it will be a little cheaper to keep cool.

NV Energy on Wednesday announced that beginning Friday, rates for residential, commercial and industrial users will be an overall price decrease of 1.47 percent.

It’s the fifth consecutive quarterly decrease in the amount customers are charged to cover the cost of fuel used in power and generating production. Those costs are passed through dollar-for-dollar, meaning when fuel prices drop, customers get the benefit.

NV Energy attributes the price reduction to both lower fuel costs and lower total energy costs.

A typical Southern Nevada single-family residential customer who uses an average of 1,141 kilowatt-hours per month will see a decrease in their monthly bill of $2.55. The 1.87 percent drop equates to a monthly bill of $133.74, down from $136.29.

Since June 30, 2015, NV Energy says the average monthly bill for a typical single-family user has dropped $20.81, or 13.5 percent.

“It’s exciting to pass on this fifth consecutive quarterly price decrease as we enter the hottest months of the year when our customers are using more energy,” Paul Caudill, NV Energy president and chief executive officer, said in a statement.

Caudill said bills for residential customers are lower today than they were in summer 2007.

NV Energy is the state’s largest electric utility with 1.3 million customers. It operates as Nevada Power Co. in the southern part of the state and Sierra Pacific Power in the north.