Daily GPI / NGI All News Access

Industry Brief

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%).

©Copyright 2011 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc.

Copyright ©2018 Natural Gas Intelligence - All Rights Reserved.
ISSN © 2577-9877 | ISSN © 1532-1231
Comments powered by Disqus