Nevada PUC approves NV Energy plan to lower rates based on federal tax changes
NV Energy’s request to reduce rates for its electric and natural gas customers in northern and southern Nevada by $83.7 million was approved Thursday by Nevada's public utilities commission.
The request was made as a result of federal tax changes approved last year.
Effective April 1, the average northern Nevada single-family residential customer bill will decrease by $2.81 per month, or 3.19 percent and the average single-family residential gas customer will see a reduction of $1.08 per month, or 2.72 percent.
In southern Nevada, single-family residential customers will see a reduction of $4.15 per month, or 2.86 percent.
When the company made the filing on Feb. 14, NV Energy Chief Executive Officer Paul Caudill noted that “passing these savings on now is simply the right thing to do” rather than waiting until the next general rate reviews, which are required by law every three years.
The PUCN’s order noted that the company voluntarily requested this reduction and by doing so “places itself amongst the first public utilities in the country to show leadership and corporate responsibility on this issue.”