Energy regulators close in on approving electric rate cuts for most Nevadans
Nevada energy regulators are poised to approve a set of cuts to utility revenue that would translate into lower power bills for most state residents.
According to a draft order published Tuesday, the Public Utilities Commission would approve an $83.7 million annual reduction in revenue for NV Energy, reflecting the savings realized through the large corporate tax cut included in the federal Tax Cuts and Jobs Act.
The cuts would reduce electric bills by roughly $4 a month for Southern Nevada customers, while those served by the utility in Northern Nevada would see a rate cut of approximately $2.81 per month (each part of the state is served by a different business entity controlled by NV Energy, and each is affected differently by the tax bill). The reduction in rates would take place on April 1.
The order also allows for intervening parties in the case — namely a group of several major casinos and Walmart — to engage in a discovery process regarding “additional ratepayer benefits” that could be gleaned from further studying the effects of the tax bill, including those that “flow to their corporate clients.”
The order also sets a tentative hearing for additional arguments for June 15.
The full three-member PUC, all of whom were appointed by Gov. Brian Sandoval, still needs to vote to approve the order during a special meeting on Thursday for the changes to rates to take effect.
Disclosure: NV Energy has donated to The Nevada Independent. You can see a full list of donors here.