NV Energy Requests $24 Million Rate Decrease Benefitting Northern Nevada Customers
Submitted by Kelsey Penrose on Sat, 02/29/2020 - 4:32pm
NV Energy today made a rate filing with the Public Utilities Commission of Nevada (PUCN) that if approved, will result in an overall $24.1 million rate decrease for northern Nevada electric customers effective October 1, 2020. This is the second rate reduction filed by NV Energy this month.
Today’s filing reflects reductions in the forecasted costs of providing clean energy programs and energy efficiency services, including PowerShift smart thermostats and home energy assessments, while still paying out nearly $15 million in incentives for rooftop solar installations statewide. Customers can visit nvenergy.com/powershift to learn more about these products and services that can help them save energy and money.
“Today’s filing reflects our commitment to continue to be Nevada’s sustainable energy provider by providing renewable energy resources and encouraging our customers to adopt energy efficiency measures in their lives, while at the same time implementing these programs in a way that reduces the cost for all our customers,” said Doug Cannon, NV Energy President and Chief Executive Officer. “We continue to work toward our state’s renewable energy goals in a way that will bring our customers both energy cost savings and environmental benefits.”
NV Energy also filed a rate decrease earlier this month that will start benefitting customers on April 1. Northern Nevada residential electric customers using 760 kilowatt hours of electricity a month will see a decrease of $2.10 on their monthly bills. These rates are associated with fuel used in power production at the company’s generating stations and power purchase agreements. Fuel and purchased power costs are passed through dollar for dollar with no profit to the company. The reduced prices are the result of both lower fuel costs and lower total energy costs as a result of NV Energy’s efforts to procure more low-cost power.
NV Energy, Inc. provides a wide range of energy services to 1.4 million customers throughout Nevada and more than 56 million tourists annually. NV Energy is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. The company is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company's website, Twitter, Facebook and YouTube pages, which can be accessed via nvenergy.com.
