NV Energy says the rate increases, which received state regulatory approval, are designed to recoup the costs of improving its grid infrastructure.
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Regulators have approved a statewide rate for natural disaster prevention that would result in Southern Nevadans paying for Northern Nevada costs.
In a filing to the Public Utilities Commission of Nevada, NV Energy has forwarded Sphere’s plan for 70 percent of its power needs to be met with a new solar energy plant.
The company says incentives in the Inflation Reduction Act allowed it to open a Las Vegas facility that makes parts for solar panels this year.
The Public Utilities Commission approved a plan by NV Energy to decrease rates in an attempt to help customers during the hottest months of the year.
Assembly Bill 524, a bill that directs utilities to build more in-state power generation, passed with overwhelming support on the last day of the legislative session.
NV Energy maintains it needs more direction from the state Legislature on how it should reduce its reliance on the expensive energy open market.
The Public Utilities Commission denied approval for part of an NV Energy plan meant to help Nevada reduce its use of coal.
The Public Utilities Commission said the utility did not prove its plan had a reasonable budget for ratepayers to cover, approving just $70.1 million.
The utility submitted a proposal to spend $373 million to protect its infrastructure against extreme weather and other events.