LAS VEGAS (KTNV) — Your energy bill could go on the rise later this year, but it won't just be because of the heat.
NV Energy applied to increase rates for their customers by up to 9 percent.
Local News
NV Energy asks to increase rates, says customers will pay less overall in 2025
“I think it’s absolutely ridiculous, to be honest with you," said Local business owner Sean Phares.
Phares doesn't want to see another increase.
“Well, it’s going to impact me tremendously. I own multiple businesses, and all my businesses run by Nevada Power," Phares said.
He owns S&K Glass and Metal Works INC. He says his business already suffered through high prices last year.
“My power bills for my home and for my business last year were exponentially higher than ever before," Phares said.
There is a silver lining for 2025. NV Energy says as long as you use the same amount of energy as last year, the average customer will pay less in 2025 than in 2024.
How is that possible, though?
You can thank improvements to their infrastructure, allowing the company to produce energy from its generating plants less expensively than buying it from the market during peak hours.
Plus, I dug into the number to see what customers pay for energy. According to NV Energy data, the price per kilowatt hour is lower now for single-family homes compared to the past 2 years.
Here's the data from NV Energy for single-family residential prices per kilowatt-hour:
- 2025 Q1: $0.10865
- 2024 Q4: $0.11800
- 2024 Q3: $0.12174
- 2024 Q2: $0.14484
- 2024 Q1: $0.14813
- 2023 Q4: $0.15864
- 2023 Q3: $0.16226
- 2023 Q2: $0.14410
- 2023 Q1: $0.14440
So this means that as long as you use the same energy throughout the year, your energy bill should be cheaper.
The rate increase would not go into effect right away. The Public Utility Commission (PUCN) said a pre-hearing conference, testimonies, interviews, consumer sessions, and even public hearings are still needed before they even decide on the increase.
There can also be a discussion on lowering the 9 percent increase, but NV Energy tells me 9 percent is the highest percentage increase possible with this application.
PUCN and NV Energy both tell me the process is expected to take more than 200 days to go through before it's approved or denied.
Still, Phares is frustrated that this is even in the works.
“It just keeps going up and going up," Phares said.
NV Energy says the increase would help them collect the money they used to pay for several energy-efficient projects.
Some of those projects include the Silverhawk Peakers project, the Reid Gardner battery storage project, transmission infrastructure and implementation of the company’s long-term strategy to upgrade outdated technology and infrastructure to improve customer service and business processes.
Phares hopes that'll work, but he's not sure it will.
Whatever they’re implementing to try to bring the cost down for affordability, it’s not keeping the pace. You have to show me.
According to our calculations, if this rate hike goes into place later this year, the average energy user will pay $11 more a month. We will continue to follow all the latest developments with energy rate changes.
