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NV Energy to reduce electric rates next January

NV Energy lowering home rates next New Years Day.

Sierra Pacific Power Company, also known as NV Energy, filed its legally required general rate case with the Public Utilities Commission of Nevada (PUCN) today requesting a $5 million drop in electrical rates. This action underscores the company’s commitment to keep electric rates flat or declining.

“Our desired outcome in this case is a settlement between all parties that reduces the rates our northern Nevada customers pay by $5 million,” said Doug Cannon, NV Energy president and chief executive officer. “All of us at NV Energy are laser focused on operating our business in a way that keeps costs low while providing the safe, reliable electric service our customers expect and deserve.”

This will be the third time in six years that the company has sought to keep rates flat or declining for its northern Nevada customers. The 2013 and 2016 general rate cases resulted in a combined $42 million revenue reduction, which led to the lowest prices northern Nevada customers have seen in nearly a decade. An additional reduction of $24.9 million for electric and gas customers was implemented in 2017 as a result of federal tax reform.

“We’ve been able to deliver to our customers lower rates while bringing even more renewable energy to our state and that provides significant benefits to the communities we serve,” said Cannon. This filing is subject to PUCN approval and the new rates would take effect on January 1, 2020.

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