Wednesday, June 29, 2016 | 5:55 p.m.
Due in part to low fuel costs, rates for electricity customers in Southern Nevada will decrease on July 1, NV Energy announced in a media release on Wednesday. The average single-family residential customer will see a monthly decrease of about $2.55, or 1.9 percent, on a bill of $136.
It marks the fifth consecutive quarterly decrease in rates for Southern Nevada since last June, according to NV Energy. Factors driving down rates include the low cost of natural gas, which accounts for most of Nevada’s energy supply, and efficiency at the company’s facilities.
“It’s exciting to pass on this fifth consecutive quarterly price decrease as we enter the hottest months of the year when our customers are using more energy,” NV Energy CEO Paul Caudill said in the release, adding that bills are lower now than they were in the summer of 2007.
Rates for customers in Northern Nevada, which are calculated separately, are also set to decrease on Friday. With the four other rate decreases in Southern Nevada, an average single-family residential customer here has seen their bill drop by about $21, or 13.5 percent, since June 30, 2015.
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