UPDATE: NV Energy rates lowered after tax bill

UPDATE APRIL 2: The reduced rates have gone into effect as of April 1. 

ORIGINAL STORY

NV Energy rates could decrease by about $4 per month as a result of the tax reform bill passed in December.

RELATED: Nevada AG joins coalition to urge tax reform savings be passed on to consumers

In a filing Feb. 14, 2018 to the Public Utilities Commission of Nevada, NV Energy requested to pass through to all its Nevada customers a revenue reduction of $83.7 million as a result of the federal Tax Cuts and Jobs Act of 2017. Among other things, the Tax Cuts and Jobs Act of 2017 reduces the federal income tax rate paid by corporations from 35 percent to 21 percent.

The average southern Nevada single-family residential customer bill could be reduced by $4.08 per month, or 2.81 percent, while the average northern Nevada single-family residential customer could see a reduction of $2.81 per month, or 3.19 percent. 

NV Energy has asked the Public Utilities Commission of Nevada to allow these bill reductions to go into effect starting on April 1.

In late December, the commission ordered an annual rate reduction of $26.4 million for NV Energy’s southern Nevada customers that will go into effect on February 15. The reduction in expense related to the federal Tax Cuts and Jobs Act of 2017 is separate from the decrease ordered in December 2017.  

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