Power rates will drop 4.3 percent on Oct. 1

Local power rates will drop 4.3 percent on Oct. 1.

The Public Utilities Commission of Nevada approved the rate decrease Wednesday. The drop comes courtesy of falling prices of natural gas, which local power utility NV Energy buys to run its generating stations.

The law requires NV Energy to pass increases or decreases in fuel costs directly on to ratepayers.

The average monthly electric bill will drop from about $146 to $140.

Rates could change again come Jan. 1. NV Energy has filed its triennial general rate case with the commission. Hearings are scheduled to start Oct. 4.

Contact reporter Jennifer Robison at jrobison@reviewjournal.com or 702-380-4512.