NV Energy Seeks $30 Million In Rate Cuts To Start In October

Yes, That's Right: Rate CUTS

Associated Press
March 03, 2020 - 5:53 am
electrical power

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RENO, Nev. (AP) — Nevada’s largest utility has filed a request for more than $30 million in rate reductions for ratepayers beginning in October.

Under the request filed with the state Public Utilities Commission, ratepayers in northern Nevada would enjoy about a $24.1 million savings and those in southern Nevada about $6.7 million effective Oct. 1.

Utility President and CEO Doug Cannon says the proposed rate cuts are in addition to earlier rate reductions effective April 1 that will reduce the cost of monthly electric bills about $2.10 for northern Nevada customers using 760 kilowatt hours of power.

Southern Nevada residential electric customers using 1,092 kilowatt hours of electricity a month will see a decrease of $3.88 on their monthly bills.

That reduction is tied to the lower cost of fuel used to produce power at NV Energy’s generating stations. Fuel and purchased power costs are passed through dollar-for-dollar to customers with no profit to the utility.

NV Energy has about 1.4 million customers in Nevada. It’s a subsidiary of Warren Buffet’s Berkshire Hathaway Energy.