Southern Nevada residents can expect to their electricity bills to drop about 80 cents a month, starting this fall.
The Public Utilities Commission approved a $15.7 million rate decrease for Southern Nevada customers on Wednesday. A typical single-family residential customer in Southern Nevada using 1,159 kilowatt hours of electricity per month would see rates to drop $0.79, or about 0.56 percent, according to a Monday morning statement from NV Energy.
The price drop was made possible by an agreement among NV Energy, PUC regulatory operations staff and the Bureau of Consumer Protection and will go into effect Oct. 1.
NV Energy reduced the price after lowering forecasted costs to provide renewable and energy efficiency services.
“It is important for NV Energy to provide options for our customers to help them reduce their energy use and utilize new energy technologies without increasing the price they pay for power,” said NV Energy president and CEO Doug Cannon in a statement Monday.
The price drop affects all NV Energy customers, said NV Energy spokeswoman Jennifer Schuricht.