Southern Nevadans see electric rates drop by 5.22 percent
CARSON CITY — Southern Nevada residential, commercial and industrial customers of NV Energy saw their overall electric rate decreased by 5.22 percent on Jan. 1, the company announced Monday.
The reduction in rates is due primarily to costs associated with fuel used in power production and the company's generating stations. Another factor in the decrease is the management of purchased power used to provide electricity. Fuel and purchased power cost savings are passed through directly to NV Energy customers, dollar for dollar, with no profit to the company.
A typical Southern Nevada single-family residential customer bill of $148.35, based on average use of 1,141 kilowatt-hours a month, will see a decrease as of Jan. 1 of 4.58 percent, or $6.80.
When combined with the rate decreases experienced in July and October, a typical single family residential customer bill from Nevada Power has gone down $12.98, or 8.36 percent, since July 1.
"We are in a competitive market for power and energy services, and NV Energy has again responded by managing costs in a manner that benefits our customers directly," said Paul Caudill, NV Energy president and CEO.
"My colleagues and I are committed to providing stable or even lower rates for our customers as we look forward all the way to 2017, which is when we are required by law to file the next general rate case for our Southern Nevada customers." he said. "The 2015 rate decreases we have been able to pass on to customers are an indication of that commitment."
NV Energy will file an annual prudency review of its 2015 fuel and purchased power spending with the Public Utilities Commission of Nevada around March 1.
NV Energy Inc. provides a wide range of energy services to 1.3 million customers throughout Nevada and 40 million tourists annually. NV Energy is a holding company whose principal subsidiaries, Nevada Power Co. and Sierra Pacific Power Co., are doing business as NV Energy. The company is headquartered in Las Vegas.
Contact Sean Whaley at swhaley@reviewjournal.com or 775-687-3900. Find him on Twitter: @seanw801
