NV Energy filed a rate reduction request with the Public Utilities Commission of Nevada that, if approved, could result in a $6.7 million in cost savings for all Southern Nevada customers combined for at least a year.
The utility said the request stems from the company reducing its forecast costs to provide clean energy programs and energy efficiency services, such as home energy assessments.
“We continue to work toward our state’s renewable energy goals in a way that will bring our customers both energy cost savings and environmental benefits,” said Doug Cannon, NV Energy’s president and CEO, in a Thursday press release.
The PUC has yet to approve the rate reduction, which would be effective in October. If approved, the rate reduction would be subject to review again in March 2021.
NV Energy spokeswoman Jennifer Schuricht said the company won’t know the request’s impact on customer bills until after the PUC reviews and makes a decision on the filing.
This is the second rate reduction filed by the utility this month, according to the release. The first would save Southern Nevada residential customers using 1,092 kilowatt hours of electricity a month about $3.88 each month, starting in April. These savings are tied to lower fuel costs and lower total energy costs.
Northern Nevada customers could also see a $24.1 million rate decrease from this request, also effective Oct. 1. The first rate decrease from earlier this month would save these customers $2.10 on their monthly bills, starting in April.