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NV Energy files $120M revenue reduction

Posted at 4:31 PM, Jun 15, 2020
and last updated 2020-06-16 10:47:43-04

NV Energy recently filed its general rate review application with the Public Utilities Commission of Nevada (PUCN) requesting a $120 million reduction in its revenue requirement.

This is one of the largest decreases the company has ever requested in its long history of serving southern Nevada.

The filing is part of NV Energy’s four-part plan to help Nevadans overcome the financial impacts of COVID-19 and also reflects the company’s commitment to keep its rates flat or declining.

If approved as filed, the average southern Nevada residential customer will see a decrease of $4.05 on their monthly bill effective January 1, 2021.

In addition to the request filed today, as a result of the Company’s deferred energy filings, NV Energy customers statewide experienced a $105.7 million rate decrease on April 1.

Another rate decrease of $77.2 million will benefit customers starting July 1, and a rate decrease of $30.6 million, if approved by the PUCN, will take effect on October 1.

As part of its four-part plan, NV Energy continues to waive disconnects for nonpayment and late penalties for customers directly impacted by COVID-19, and has developed extended payment options to allow customers time to recover while still having essential energy services.