NV Energy files to lower rates by $84 million to reflect tax reform

Courtesy NV Energy

In a filing submitted February 14, 2018 to the Public Utilities Commission of Nevada (PUCN,) NV Energy requested to pass through to all its Nevada customers a revenue reduction of $83.7 million as a result of federal tax reform.

If approved, the average southern Nevada single-family residential customer bill will be reduced by $4.08 per month, or 2.81 percent. The average northern Nevada single-family residential customer will see a reduction of $2.81 per month, or 3.19 percent. The reduction in annual expense is beneficial to NV Energy’s local gas distribution customers in northern Nevada as well. The average northern Nevada single-family residential gas customer will see a reduction of $1.08 per month, or 2.72 percent.

NV Energy has asked the Public Utilities Commission of Nevada to allow these bill reductions to go into effect starting on April 1, 2018.

“Opposed to waiting until the next general rate reviews, which are required by law every three years, passing these savings on now is simply the right thing to do,” said Paul Caudill, NV Energy Chief Executive Officer. “The prices our customers pay today are very competitive when compared to the regional and national markets. This opportunity is an important one in our commitment to keep prices low for another decade.”

In late December 2017, the PUCN ordered a separate annual rate reduction of $26.4 million for NV Energy’s southern Nevada customers that will go into effect on February 15, 2018.