Vegas

Shale, Rockies Gas Leaves Southwestern LDC With Plenty of Options

Las Vegas, NV-based local distribution company (LDC) Southwest Gas Corp. is sitting pretty this winter and for the foreseeable future in terms of adequate natural gas supplies. The gas-only utility’s three-state service area divides into three regions, each with a different set of supply basins, and the shale gas boom affects two of those operating areas.

December 27, 2010

Southwest Gas: LDC Long on Supply With or Without Rockies

Las Vegas, NV-based local distribution company (LDC) Southwest Gas Corp. is sitting pretty this winter and for the foreseeable future in terms of adequate natural gas supplies. The gas-only utility’s three-state service area divides into three regions, each with a different set of supply basins, and the shale gas boom affects two of those operating areas.

December 22, 2010

Arizona Regulators Approve Small Southwest Gas Credit

The Arizona Corporation Commission (ACC) on Friday approved a small credit for Las Vegas, NV-based Southwest Gas Corp.’s Arizona natural gas utility customers that will stay on retail customers’ bills though the first part of 2011, the regulatory commission said. The “surcredit,” as the ACC designated it, will be effective Dec. 1.

November 24, 2009

People

FERC Chairman Jon Wellinghoff has tapped Thomas R. Sheets, a partner in the Las Vegas law firm of McDonald Carano Wilson, to be general counsel of the Federal Energy Regulatory Commission, succeeding Cynthia Marlette. Sheets has more than 32 years of energy industry, administrative practice and regulatory hearing experience. He has served as chairman of the Nevada Tax Commission for the past four years and was senior vice president and general counsel of Southwest Gas Corp. As FERC general counsel, Sheets will represent the Commission before the courts and Congress and will be responsible for the legal aspects of the agency’s activities.

September 18, 2009

Arizona Regulators OK $33.5M Southwest Gas Rate Hike

The Arizona Corporation Commission (ACC) has approved a $33.5 million annual rate increase for Las Vegas, NV-based Southwest Gas Corp.’s customers in the state. The increase, effective on Jan. 1, will be borne by customers on their summer-month (April through October) natural gas bills.

January 2, 2009

Southwest Gas Earnings Up; More Weather-Neutral Rates Sought

Even with solid earnings improvement, Las Vegas, NV-based Southwest Gas Corp’s. lingering issue with regulators in the three states in which it operates is how to make its natural gas distribution earnings more stable and less influenced by swings in the weather in Nevada, Arizona and the eastern desert/mountain fringes of California. Net income for the first quarter ended March 31 was $49.8 million, or $l.19/share, compared to $44.2 million, or $1.12/share, for the same period in 2006.

May 1, 2007

Stronger Cash Flow Boosts Southwest Gas Credit

In the face of continued, albeit moderating, growth in its principal service areas of Nevada and Arizona, Las Vegas, NV-based Southwest Gas Corp. gained a revised positive outlook and a triple-B (BBB-) credit rating Wednesday from Standard & Poor’s Ratings Services (S&P). S&P cited a stronger cash flow and declining overall debt.

March 15, 2007

Southwest Gas Reports 2Q Net Income

Las Vegas, NV-based Southwest Gas Corp. reported an unusual second-quarter net profit with net income of $3.7 million, or 9 cents/share, compared with a loss of $2.8 million, or 7 cents/share, for the same period in 2005. The second and third quarters traditionally are not profitable for the natural gas-only utility serving the mostly arid, warm weather parts of Nevada, Arizona and California’s eastern mountain/desert areas.

August 15, 2006

Southwest Gas Reports Decreased Profits; Warmer Weather Cited

Experiencing a decade-long annual growth of 5% again last year, Las Vegas, NV-based Southwest Gas Corp. reported decreased consolidated earnings, compared to the previous year, for its growing distribution natural gas utility operations in Nevada, Arizona and the eastern fringe areas of California. Southwest is the major natural gas utility in both Nevada and Arizona, two of the fastest growing areas in the nation .

March 10, 2006

Southwest Gas Reports Decreased 1Q Earnings; Weather, Costs Cited

Las Vegas, NV-based Southwest Gas Corp., the gas-only utility distributor to 1.6 million customers in three states, reported decreased first-quarter profits, with warmer-than-normal weather and higher operating costs cited as the chief culprits. Net income was $32.8 million, or 88 cents/basic share, in the first quarter, down from $41 million, or $1.19/basic share, in the same period in 2004.

May 2, 2005
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