Las Vegas Sun

March 28, 2024

NV Energy says fall in fuel prices has lowered customers’ bills again

NV Energy Building Exterior

Steve Marcus

Exterior view of the NV Energy building Monday, Oct. 20, 2014, in Las Vegas.

Electricity rates for Southern Nevada residential and commercial customers decreased on April 1, NV Energy announced on Monday. Attributed to a fall in fuel prices and lower costs, the utility said customers could see their overall payments fall by more than 3 percent.

The company said this is the fourth consecutive rate decrease since July, and that a typical single-family residential customer had saved about $18 during that time period.

“As it starts warming up and our customers use more energy, we are glad to pass along the fourth consecutive quarterly rate decrease for our customers in Southern Nevada,” Paul Caudill, NV Energy president and CEO, said in a statement on Monday. “NV Energy remains committed to providing stable or even lower prices for our customers. As a matter of fact, residential customers' bills are even lower today than they were five years ago.”

According to the company's media release, a typical single-family residential customer bill, which assumes an average use of 1,141 kilowatt-hours a month, is $141.55. With the April rate decrease, a customer fitting that profile would save $5.26 for a new bill of $136.29.

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