In an April 4 story about NV Energy’s plans to close its coal plants, a company spokesman incorrectly explained the projected rate increases needed to pay for transition to natural gas and renewable energy production.
NV Energy says it will need rate increases of 1.65 percent per year for 20 years, on average, to pay for the conversion. That would compound to a 38.7 percent rate increase over 20 years, but the utility says its rates would go up by 34.4 percent over 20 years if it did not close coal plants early.
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