FACT BRIEFDid electricity prices rise in Nevada during the 2022-23 winter?
YES
Increased electricity usage in Nevada due to colder-than-usual temperatures, combined with higher costs of natural gas, which fuels electricity-generating power plants, drove up electricity prices this winter. From January to March 2023, the average temperature in Las Vegas was the lowest it’s been since 1987.
In Nevada, electric power prices jumped from October 2022 to January 2023. Rising prices have been attributed to the fact that natural gas demand in the U.S. is well above available supply, which is limited in the Western U.S. in particular — especially in the aftermath of winter storm Uri in 2021 and the Russian invasion of Ukraine. According to the public utility NV Energy, these rising prices are being passed on to customers as a pass-through cost.
NV Energy anticipates higher summer electricity bills as well due to rising natural gas prices and a general residential rate increase of 3.34%, which went into effect Jan. 1, 2023.
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Sources
Reno Gazette Journal NV Energy on summer: 'It’s gonna be a higher bill. I don't want to sugarcoat that.'
National Weather Service Las Vegas How about that winter chill - Let's break down some climate numbers
Assembly Committee on Growth and Infrastructure Thursday, Feb 9, 2023 (2:38:30)
Public Utilities Commission of Nevada Winter Natural Gas Bills
US Energy Information Administration Nevada Natural Gas Prices
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