Tuesday, May 9, 2023 | 4:48 p.m.
NV Energy plans to request lower energy rates for customers that would kick in July 1 if the Public Utilities Commission of Nevada approves.
The reduction would lower customer’s energy rates by between 5% and 14% until September, depending on a customer’s location and service type. The energy utility, which serves more than 1.5 million local customers, will formally make the request May 15.
“Our customers have all been impacted by the higher natural gas prices and the corresponding effect it has on our customers’ rates,” NV Energy CEO Doug Cannon said. “Recognizing the challenges higher energy rates create for customers, especially in the summer months, we decided to step in and deliver a solution.”
According to an NV Energy press release, the utility raised rates recently to compensate for the high cost of natural gas in 2022 and early 2023. The release states NV Energy plans to lower rates again, “provided natural gas prices remain stable.”
“However, NV Energy recognizes that waiting for these prices to drop over the next year, does not provide cost relief fast enough for customers that rely on electricity for cooling their homes and businesses during the hot summer months,” the release states.
