Public utility company NV Energy announced that consumers in the state will see slightly lower rates starting later this year.
The Public Utilities Commission of Nevada approved a plan with the utility company that will mean a $15.7 million decrease for consumers in southern Nevada. Consumers in northern Nevada will see a $21.9 million rate decrease, NV Energy said.
“Following a thorough, multi-month review process, we appreciate the willingness of all parties to reach this agreement on behalf of our customers,” NV Energy President and CEO Doug Cannon said. “It is important for NV Energy to provide options for our customers to help them reduce their energy use and utilize new energy technologies without increasing the price they pay for power.”
NV Energy said the rate reductions, which will take effect October 1, are the “result of reductions in forecasted costs of providing renewable and energy efficiency services.”
Despite the overall amount of savings, the rate decrease for individuals and families across the state will appear small.
Northern Nevada customers who use 769 kilowatt hours of electricity each month will see a 2.47 percent reduction in their bills, totaling $2.12, NV Energy said.
For a single family in southern Nevada that uses 1,159 kilowatt hours of Electricity each month, energy bills will go down 0.56 percent, or $0.79 each month.