All Customers to Benefit from Cost Reduction

Today NV Energy made a filing with the Public Utilities Commission of Nevada to reduce electricity rates effective July 1. The filing reflects reductions in costs associated with fuel and purchased power the company uses to provide electricity, and will result in an overall rate decrease of 4 percent that will be passed through to all southern Nevada residential, commercial and industrial customers. 

A typical southern Nevada single-family residential customer bill of $154.54, based on average usage of 1,141 kilowatt-hours a month, will see a decrease of approximately 3.13 percent, or $4.84.

“This is good news for our customers as we head into the summer peak season, when we all use more electricity due to hotter weather,” said Paul Caudill, NV Energy President and CEO. “It is important to understand that cost savings for fuel that we use at our power plants and purchased power are passed through directly to our customers, dollar for dollar, with no profit to the company.  Our team has been able to capture, and is passing on, savings resulting from effective management of our power plants and lower natural gas prices, which we purchase in the market.”  

“We have been able to optimize our natural gas fuel purchases for the benefit our customers,” said Sheryl Torrey, NV Energy Vice President of Resource Optimization.  “In addition, the One Nevada transmission line that connects our southern and northern Nevada grids is allowing us to more effectively dispatch our most efficient power plants.”

NV Energy files an annual prudency review of its fuel and purchased power spending with the PUCN.

NV Energy, Inc. provides a wide range of energy services to 1.3 million customers throughout Nevada and nearly 40 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.

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