LAS VEGAS (KTNV) — More than $63 million in refunds owed to NV Energy customers who were overcharged for years are set to begin going out in July — nearly four months after state regulators approved a repayment plan.
A spokesperson for NV Energy confirmed no refunds have been issued yet. The delay stems from a third-party audit still in progress — a condition set by the Public Utilities Commission before payments can be released.
The overcharges stem from a decades-long pattern first uncovered in January 2025, following a Channel 13 investigation.
A state investigation confirmed NV Energy had been billing certain customers the wrong rate for their property type and improperly classifying multi-family buildings as single-family homes. More than 100,000 customers were affected.
To halt the state probe, NV Energy reached a settlement. The PUC approved it in February, with conditions, giving the utility until late September to get those refunds, plus interest, into customers' hands.
"Our teams are really going to work to make sure we get those refunds out as fast as we can and make sure they're accurate for our customers because what we know is this is money that they are owed," an NV Energy spokesperson previously told Channel 13.
The commission required NV Energy to submit a third-party report assessing the reasonableness and accuracy of the methods used to identify every misclassified customer. That report will also be posted publicly on NV Energy's website.
Here is how the refund process will work once payments begin:
- Customers with active accounts will see a credit on their bill.
- Former customers will receive a check mailed to their last known address.
- Customers who already received a partial refund after initial reports will receive additional payment. NV Energy must repay every dollar from the entire period a customer was overcharged.
Frustration over the delayed refunds spilled into public view this week at the PUC's annual consumer meeting, where residents packed the hearing room to voice concerns over rising power bills and whether state regulators are doing enough to protect the public.
The PUC's final approval also requires NV Energy to launch a customer education program to help ratepayers understand single versus multi-family property classifications and how to find that information on their bills. The utility must also finalize plans for future audits and determine how long customer records must be retained.