NV Energy made a filing with the Public Utilities Commission of Nevada to reduce rates effective July 1. The filing reflects reductions in costs associated with fuel and purchased power the company uses to provide electricity and gas service. The filing will result in an overall electric rate decrease of 6.1 percent that will be passed through to all northern Nevada residential, commercial and industrial electric customers. Natural gas residential, commercial and industrial customers will see an overall gas rate decrease of 11.28 percent.
A typical northern Nevada single-family residential electric customer bill of $93.79, based on average usage of 758 kilowatt-hours a month, will see a decrease of approximately 5.28 percent, or $4.95. A single-family residential natural gas customer bill of $59.55, based on average use of 55 therms a month, will see a decrease of $6.50, or 10.92 percent.
“This is good news for our customers as we head into the summer peak season, when we all use more energy 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.