NV Energy prices to decrease again July 1

06/30/2016 11:03 PM

The Fernley Reporter

Effective Friday, July 1, NV Energy’s northern Nevada residential, commercial and industrial electric customers will experience an overall electric price decrease of 1.97 percent.

Natural gas residential, commercial and industrial customers experienced an overall gas decrease of 9.17 percent. These costs are associated with fuel used in power production and the company’s generating stations. Fuel and purchased power costs are passed through dollar for dollar with no profit to the company. The reduced prices are the result of both lower fuel costs and lower total energy costs following recent changes made by NV Energy to gain greater access to low-cost power.

A typical northern Nevada single-family residential electric customer bill of $79.73, based on average usage of 758 kilowatt-hours a month, will see a decrease of 1.63 percent, or $1.30, for a new total bill of $78.43. A single-family residential natural gas customer bill of $42.14, based on average use of 55 therms a month, will see a decrease of $3.52, or 8.35 percent, for a new total bill of $38.62.

Combined with the five electric price decreases experienced in April, July and October of 2015 and January and April of this year, a typical single family electric residential customer bill has gone down $15.92, or 16.9 percent, since March 30, 2015.

“My colleagues and I are pleased to pass on this sixth consecutive quarterly electric price decrease as we enter the hottest months of the year when our customers are using more energy, and the fifth consecutive quarterly gas price decrease,” said Paul Caudill, NV Energy President and CEO. “As a matter of fact, residential customer’s electric bills are even lower today than they were in the summer of 2007, when the average bill was $100.”

The company projects that overall electric prices will also go down in October, despite the increase in costs for the renewable energy program refund that were requested in a March 1 filing with the Public Utilities Commission of Nevada.