Tuesday, Nov. 10, 2020 | 2 a.m.
NV Energy is crediting customers in Southern Nevada $120 million — an average of $107 per home — because of a reduction in the utility’s revenue requirement.
The credit was applied to balances due for the October billing cycle, with any of the remaining rebate reflected as a credit in the current amount due.
“This will provide immediate bill relief, especially to those who are struggling financially due to the pandemic,” Doug Cannon, NV Energy president and CEO, said in a statement.
The Public Utilities Commission of Nevada approved the credits in early October.
According to a note on customer bills, NV Energy in its June 1 general rate case “requested a historic $120 million reduction in its revenue requirement.”
The credit reflects an approved early distribution of the reduction that is first applied to any unpaid items, the note said.
Additional rate reductions as a result of the case will take effect Jan. 1, the company said.
