LAS VEGAS (KTNV) — A newly submitted NV Energy proposal to the Public Utilities Commission of Nevada (PUCN) could mean higher monthly rates for more than 1.5 million customers statewide.
In a Tuesday press release, the energy company said the proposed policy "aims to address the financial impacts of a catastrophic wildfire" to protect customers and the company.
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If approved, higher customer rates will go towards the creation of a new $500 million wildfire self-insurance fund — but the increased rates will depend on where you live in the state. The fund would also be partially built through co-payments from shareholders and invested to grow over time.
Nevada Power customers here in Southern Nevada would be paying less than Sierra Pacific Power customers up north, where the risk of wildfires is greater, according to NV Energy.
Rates would be determined on the same method used for commercial wildfire insurance previously approved by PUCN.
Average Sierra residential customers in the north would see a roughly $2.40 monthly increase in their bill whereas Nevada Power customers in the south would see around a $0.50 monthly increase.
NV Energy said the collection would be over the course of 10 years.
“Wildfires across the United States are becoming more frequent and severe, and utilities like NV Energy must proactively manage wildfire related risks to protect customers and the communities we work to safely serve every day,” NV Energy President and CEO Doug Cannon said.
“While NV Energy remains committed to taking actions to reduce the risk of a wildfire occurring in connection with our electric grid, as other utilities in the West have recognized, a self-insurance approach ensures that there is financial support in place in advance of a wildfire occurring to provide greater financial certainty to all involved.”
The Nevada Power Company and Sierra Pacific Power Company do business as NV Energy. They are subsidiaries of NV Energy, Inc.
See the full filing below
Dockets 25 01018 Original Filing 1-2-2025 Agn Uel Npc by christian.hudspeth on Scribd
