LAS VEGAS (KTNV) — The Public Utilities Commission of Nevada (PUCN) will hold two consumer sessions Monday, June 9, to gather public input on NV Energy’s proposed adjustments to deferred energy rates for 2024.
WATCH | Jhovani Carrillo explains the latest proposed rate adjustments
The sessions are scheduled for 1 p.m. and 6 p.m., and will be video conferenced between the PUCN offices in Carson City and Las Vegas.
NV Energy is seeking regulatory approval for its fuel and purchased power expenses from 2024, as well as a rate reset to reflect changes in costs associated with renewable energy projects and energy efficiency programs.
The utility filed applications for both its Southern and Northern Nevada electric operations, along with natural gas service in Northern Nevada.
For Southern Nevada electric customers, NV Energy is proposing to reduce rates by approximately $13.57 million, or 0.57% across all rate classes. If approved, that would lower the average monthly residential bill by roughly 44 cents, or about 0.34%.
These proposed changes are a part of the deferred energy rates.
This rate is the difference between the money the electric utility collected for fuel and purchased power costs and the actual costs for the fuel and purchased power. If more revenue was collected through the BTER than was required to reimburse the utility on a dollar-for-dollar basis, this rate will show as a credit on electric bills. If less money was collected to reimburse the utility on a dollar-for-dollar basis, this rate will show as a charge on electric bills.
The meeting comes on heels of a series of consumer sessions held by PUCN last week on the general rate case adjustment.
According to PUCN, this rate is set by reviewing all the utility's revenues, expenses, investments, and costs of capital to determine the amount of revenue the utility requires to cover costs, including a fair return for investors.
It includes a 9.5% rate hike, which would equate to about an extra $20 per month for the average customer.
NV Energy spokesperson Meghin Delaney says the money they receive from the rate increase would cover the cost of current improvements they've made to their services.
The application would also change solar, as they look into ways to change net metering, allowing new solar customers to make less off of the energy they don't use and sell back to the grid.
NV Energy says this would not impact current solar users, but would rather impact people after October, if implemented.
The application also looks into a new demand charge to discourage high energy usage during peak hours when the grid is under the most strain. Plus, low-income assistance helping out people at or below 150% of the federal poverty level.
"It should be going down," said Katesha Gaines.
Gaines has lived in Las Vegas on and off for about 10 years with her kids. She tells Channel 13 the rates should be lowered.
"It's hard for us to live... you got your bills, you got your rent, you got you food rising," said Gaines.
If you would like to share your thoguhts on the deferred energy rates adjustments, you can visit 9075 W. Diablo Drive, Suite 250, Las Vegas, NV 89148.
Additional information about the applications and the hearings can be found on the PUCN’s website at puc.nv.gov.
