In an email to ratepayers, NV Energy CEO Doug Cannon said customers should see some of the electric rates in their bills fall throughout the year.
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GasBuddy reports Nevada prices are 40 cents a gallon higher than a month ago and stand 22 cents a gallon higher than a year ago.
The average Southwest Gas bill for January rose 50 percent from a year earlier. The utility says several factors are to blame.
NV Energy says the rate increases, which received state regulatory approval, are designed to recoup the costs of improving its grid infrastructure.
The cheapest gas prices in Las Vegas on Monday were $4.29 a gallon while the least expensive gas in the state was around $3.86 a gallon in the Wells, Wendover areas.
The temperatures in July set records for Las Vegas which caused air conditioners to work overtime and deliver record bills for some Southern Nevada residents.
The latest rate hike from Southwest Gas and NV Energy took effect April 1, but there are a number of steps ratepayers can take to help trim utility bills.
Since late June, pump prices have continued to drop locally and nationally because of a decrease in demand and an increase in production.
New all-time highs for gasoline prices led to long lines for wholesale gas and surprised drivers filling up elsewhere. “You just gotta grin and bear it,” Las Vegan Keaton Johns said.