NV Energy customers across the state should expect a slight decrease in their energy bills during the last few months of 2023 as rates are expected to drop.
The company has filed with the Public Utilities Commission a slight decrease in energy rates for its customers in southern and northern Nevada that will take effect in early October and last through the end of 2023.
The average decline for all Southern Nevada customers will be 1.02 percent and the average decline for Northern Nevada customers will be 2.47 percent.
Here’s the impact for residential customers in southern Nevada:
– For single-family residential customers the rate decrease will be 0.64 percent, which should reduce the average monthly bill by $1.20.
– For multi-family residential customers, the rate reduction will be 0.68 percent, which should lower the average monthly bill by 75 cents.
Here’s the impact for residential customers in Northern Nevada:
– For single-family residential customers, the rate decrease will be 1.9 percent, which should reduce the average monthly bill by $2.40.
– In the case of multi-family residential customers, the rate drop will be 1.97 percent, which will mean a reduction in the average monthly bill of $1.41.
These two rate decreases will reduce NV Energy’s revenue by about $56.8 million, of which $31.6 million will come from southern Nevada and $25.2 million from the north. These revenues do not contribute to the company’s overall profits and cover the cost of purchasing power.
NV Energy did not immediately respond to requests for comment on the rate decrease.
This decrease is the first simple decrease NV Energy has made to its electricity rates in the last five quarters, last quarter receiving permission to financially maneuver the impact of its quarterly rates to give customers a slight decrease of 2.9 percent.
