weather icon Clear
RJ App
Vegas News, Alerts, ePaper

NV Energy proposes electric rate cut

CARSON CITY — NV Energy on Tuesday made a filing with the Nevada Public Utilities Commission that will result in an overall rate decrease of 4 percent to all Southern Nevada residential, commercial and industrial customers starting July 1.

The filing reflects reductions in costs associated with fuel and purchased power.

A typical Southern Nevada single-family residential customer bill of $154.54, based on average use of 1,141 kilowatt-hours a month, will see a decrease of approximately 3.13 percent, or $4.84.

“This is good news for our customers as we head into the summer peak season when we all use more electricity due to hotter weather,” NV Energy CEO Paul Caudill said.

“It is important to understand that cost savings for fuel that we use at our power plants and purchased power are passed through directly to our customers, dollar for dollar, with no profit to the company. Our team has been able to capture, and is passing on, savings resulting from effective management of our power plants and lower natural gas prices, which we purchase in the market,” he also said.

NV Energy files an annual prudency review of its fuel and purchased power spending with the PUC.

“We have been able to optimize our natural gas fuel purchases for the benefit our customers,” said Shery Torrey, NV Energy vice president of resource optimization. “In addition, the One Nevada transmission line that connects our Southern and Northern Nevada grids is allowing us to more effectively dispatch our most efficient power plants.”

Contact Sean Whaley at swhaley@reviewjournal.com or 775-687-3900. Find him on Twitter: @seanw801.

Don't miss the big stories. Like us on Facebook.