Lower-than-anticipated natural gas prices and purchased power costs have allowed NV Energy's southern Nevada utility to avoid a general rate increase next year. The Las Vegas-based utility is seeking a $246 million general rate hike, but it will defer collection of $64 million of that total until a future rate case and apply $182 million of projected rate decreases to avoid having to raise residential customer rates at the start of next year. NV Energy said its recent investment in more efficient generation has contributed to the cost reductions in fuel and purchased power. Even with holding total revenues flat, NV Energy's southern utility will get boosts in its overall return (8.53% to 8.66%) and return on equity (10.5% to 11.25%).
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