84°F
weather icon Clear

NV Energy wants to raise rates for residential customers

Updated June 6, 2019 - 5:32 pm

Southern Nevada customers might pay more on their NV Energy bills starting in October.

According to a news release from the Nevada Public Utilities Commission, NV Energy is asking for permission to increase rates for residential customers in Southern Nevada by 0.42 percent, about 47 cents each month.

“It’s very small in the grand scheme of things,” said Kevin O’Donnell, a financial analyst with North Carolina-based Nova Energy Consultants.

Payback

The rate increase application is part of NV Energy’s annual deferred energy rate adjustment applications.

NV Energy sends in such applications so the PUC can make sure fuel and purchased power costs — the cost to generate electricity at power plants and the cost to buy power off the wholesale market — for the previous year were prudent.

“It’s the cost they incurred for buying power, for getting electricity to Southern Nevada,” said Ernest Figueroa, a consumer advocate with the state attorney general’s Bureau of Consumer Protection.

The annual filing also seeks changes to mandated public policy charges NV Energy collects for renewable and energy efficiency programs.

NV Energy spokeswoman Jennifer Schuricht said the utility is asking to raise rates for Southern Nevada residential ratepayers because of an increase in the energy efficiency program rate, which covers the cost of programs that help consumers reduce energy consumption, like discounts for LED lightbulbs and heating rebates.

“Even with this rate change, customer bills will still be lower than they were a decade ago,” Schuricht said by email. She said the company is committed to keeping rates low the next 10 years and will “file for a $100 million rate cut in 2020.” 

Residential ratepayers in Northern Nevada are not subject to the rate increase because NV Energy files separate applications for its northern and southern utilities, Schuricht said.

Impact of raise

Figueroa said the bureau is still investigating NV Energy’s application, but a 47 cent increase on the average monthly bill is “not out of the ordinary.”

Rose McKinney-James, a former commissioner for the Nevada Public Utilities Commission, said it’s unfortunate the rate increase has ties to renewable energy programs.

“We encourage the utility to supply programs that promote conservation, and it’s bittersweet to see increases tied to those savings,” she said. But “I think the benefits in the long-term outweigh this modest (rate) increase.”

The 47 cent increase applies to the average ratepayer, but O’Donnell pointed out that some demographics — like older residents who spend more time at home — can expect to see a higher increase.

“It’s going to vary by customer,” he said.

The commission will need to approve NV Energy’s proposed increase. A hearing on the applications will be held Aug. 13.

Consumer session

Ratepayers can make public comments on the applications Tuesday at 1 p.m. and 6 p.m. at the commission’s Las Vegas office. Those in Northern Nevada can attend via video conference at the commission’s Carson City office. The PUC will broadcast a live video of the sessions on its website.

NV Energy representatives will be at the Las Vegas office to answer questions with members of the Nevada attorney general’s Bureau of Consumer Protection and the commission’s regulatory operations staff. Speakers will have five minutes to discuss NV Energy’s applications.

Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.

Don't miss the big stories. Like us on Facebook.
Business Videos
There's a new place to play board games in Las Vegas
Matt Smiciklas, co-owner of Boarding School Games, talks about the new Las Vegas business that he co-owns with Emily Labejof. Dedicated tabletop gamers can choose from more than 500 games to play for free in-store. The doors open to the public Saturday, July 20, 2019. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Renovations at the STRAT
Analysts say the $140 million renovation project at The STRAT, formerly the known as the Stratosphere, could help the hotel-casino compete with the evolving north side of the Las Vegas Strip. (Bailey Schulz/Las Vegas Review-Journal)
SLS Las Vegas will become Sahara Las Vegas
Owner Alex Meruelo announced during a special event at the SLS Las Vegas that the hotel-casino will become Sahara Las Vegas in its next iteration. Meruelo said $150 million dollars will be spent to renovate the current property. (Heidi Fang/Las Vegas Review-Journal)
Aircraft hinge maker moves to "business friendly" Nevada
Doug Silva, president of Aircraft Hinge, Inc. in Las Vegas, makes every type of hinge for every type of airplane. Silva talks about his company and why he moved it to Nevada. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Daytime fireworks mark the opening of Encore Boston Harbor
The opening of the $2.6 billion Encore Boston Harbor in Everett, Mass. included a three-minute fireworks show launched by Fireworks by Grucci Sunday, June 23, 2019. (Rick Velotta/Las Vegas Review-Journal) @RickVelotta
Elaine Wynn talks about the opening of Encore Boston Harbor
Elaine Wynn, co-founder and largest shareholder of Wynn Resorts, talked during opening festivities of the $2.6 billion Encore Boston Harbor in Everett, Mass. Sunday, June 23, 2019. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
People line hours ahead of opening for Encore Boston Harbor
Guests arrive as much as 17 hours early for the 10 a.m. opening of the $2.6 billion, 671-room resort in Everett, Mass. Sunday, June 23, 2019. (K.M. Cannon/Las Vegas Review-Journal) @reviewjournal.com
Allegiant Discusses Investments In Golf Course Software And Game Rooms - Video
Allegiant Discusses Investments In Golf Course Software And Game Rooms.
Crews working 24/7 to complete Circa downtown - VIDEO
Owner Derek Stevens goal is to open the doors to the 1.25 million-square-foot project by December 2020. (Michael Quine/Las Vegas Review-Journal)
Golden Knights Marc-Andre Fleury sells Las Vegas home - VIDEO
Golden Knights goaltender Marc-Andre Fleury has sold his custom home Southern Highlands home in Las Vegas for $2.3 million.
Las Vegas Strip resorts slow to welcome Alexa, Google Home Hub
Alexa, where are you? Smart home and hospitality technology was big at CES in early January. Amazon and Google promoted their voice-activated speakers Alexa and Google Home Hub. Hospitality executives have called the speakers the industry’s future. Yet for all the hype, the revolution is unfolding at a cautious pace on the Strip as well as in other major U.S. hospitality markets. Hotels are focusing their consumer-facing technology investments on adding streaming capabilities, like Netflix, and enhancing their mobile apps, a December report by Hospitality Technology showed. Voice-enabled technology is 10th on that priority list.
What is MGM 2020
MGM Resorts International announced its MGM 2020 plan in January, The plan would improve cash flow by $200 million annually by the end of 2020 and an additional $100 million by the end of 2021. 1,070 jobs were cut as part of the cost-cutting initiative. 881 of those were Las Vegas employees, mostly in management or mid-management positions. Jim Murren
What is MGM 2020
MGM Resorts International announced its MGM 2020 plan in January, The plan would improve cash flow by $200 million annually by the end of 2020 and an additional $100 million by the end of 2021. 1,070 jobs were cut as part of the cost-cutting initiative. 881 of those were Las Vegas employees, mostly in management or mid-management positions. Jim Murren
Find next-level experience
One minute, you’re just trimming hedges and shooting the breeze with your neighbor. But then he brings up Vegas and you’re thinking about the incredible meals, world-class hotels, pools inside of pools and unparalleled entertainment. You’re thinking about iconic artist residencies like Aerosmith. Priorities take shape. Vegas first, lawn and everything else, second. Just like that, Vegas Changes Everything. (Visti Las Vegas/Youtube)
Vegas Changes Everything
A weekend getaway is nice for anyone, but a weekend getaway in Vegas ... that’s a next-level experience with shows, clubs, spas and more. With a chance to see iconic artist residencies like Gwen Stefani, you might just find yourself going from pushing your child on a swing, to pushing back a birthday party. See how Vegas Changes Everything. (Visit Las Vegas/YouTube)
How much do Las Vegas casino CEOs make?
Las Vegas gaming CEOs made anywhere between $1 million and $24 million last year, according to company filings with the U.S. Securities and Exchange Commission. ((Las Vegas Review-Journal)
30-year-old Rio needs a little TLC
Nearly 30 years after the Rio opened, the red and blue jewel that helped catapult Las Vegas to a new level with its buffet and nightclub has lost its status along with its shine.
The latest on the Drew Las Vegas - VIDEO
Eli Segall recounts his tour of the Drew Las Vegas, formerly the Fontainebleau, on the Las Vegas Strip. (Michael Quine/Las Vegas Review-Journal)
Pinball Hall of Fame to move near south Strip
Operators of the Pinball Hall of Fame have been approved to build a new, larger arcade near the south edge of the Strip on Las Vegas Boulevard near Russel Road. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
National Hardware Show underway Las Vegas
The National Hardware Show kicked off Tuesday at the Las Vegas Convention Center (Mat Luschek / Review-Journal)
Caesars for sale?
Caesars Entertainment Corp. has been swept up in takeover speculation since the company’s share price tumbled last year amid disappointing earnings and concerns over a recession. Amid the decline, hedge funds scooped up shares. Billionaire activist investor Carl Icahn began buying shares of Caesars as early as January. Icahn acquired nearly 18 percent by mid-March. In February Icahn called on the Caesars board to study a sale as a way to boost shareholder value.
Las Vegas home prices
Las Vegas home prices grew fastest among major markets in February for the ninth straight month. But amid affordability concerns, the growth rate has slowed down. Southern Nevada prices in February were up 9.7% from a year earlier, according to the latest S&P CoreLogic Case-Shiller index. The last time Las Vegas' price growth fell below 10% was in September 2017, S&P Dow Jones Indices reported.
Free Parking Coming To Wynn
Free parking will come to the Wynn and Encore resorts on May 1, 2019. (Mat Luschek / Review-Journal)
Founding Venetian employees talk about 20 years at the Strip resort
The Venetian, which opened May 3, 1999, is celebrating 20 years on the Las Vegas Strip. Seven original employees talk about opening the luxury resort and working there for two decades. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Circa aiming for December 2020 opening
The 1.25-million-square-foot property will have 44-stories and 777-rooms. It will also have a separate nine-story, 1,201-space parking garage.
THE LATEST
 
New board gaming space opens Saturday in western Las Vegas

Offering Monopoly to newer, app-based games, the co-owners of Boarding School Games hope to provide a space for seasoned gamers and invite newcomers into the tabletop game community.

Sewage backup closes businesses at Spring Valley plaza

Several businesses and restaurants on the corner of Jones and Spring Mountain were closed Thursday after a sewage problem, according to the Southern Nevada Health District.