NV Energy residential customers to see rate cut in 2018

Southern Nevada energy customers should expect to see lower power bills in 2018.

The Public Utilities Commission of Nevada voted 3-0 Friday on a rate cut for NV Energy customers that is expected to reduce the average residential monthly power bill by up to 2 percent. The reduction, resulting from the commission’s triennial general rate review, will take effect in the new year.

“While relatively modest, this reduction is the first of its kind by the PUCN in over 30 years,” the order approved by the commission said.

Under the agreement, the fixed monthly basic service charge for single-family homes will decline from $12.75 to $12.50, and the “volumetric” charge, which varies depending on the amount of power used each month, will decrease due to a $30 million reduction in what the power company can collect for that charge.

The move is a reversal from an NV Energy proposal earlier this year that called for a rate increase that would have raised monthly bills by about 2 percent.

But that proposal raised concerns from customer advocacy groups, including the AARP Nevada chapter, which argued that an increase would negatively impact Nevadans with limited incomes.

PUC Chairman Joe Reynolds said during Friday’s meeting that the reductions became possible due to”responsible decisions being made by NV Energy in respect to their business practices.”

Contact Colton Lochhead at clochhead@reviewjournal.com or 702-383-4638. Follow @ColtonLochhead on Twitter.