LAS VEGAS (KTNV) — Summer heat is coming, and the state's largest energy provider has some good news for residents.
NV Energy will start reducing customer's bills from 5%-14% for the summer months, starting in July. Exact percentages will depend on the customer's precise location and type of electric service they receive.
“We are glad to be able to step in and deliver a solution for our customers, who have been impacted by the higher purchased power and natural gas prices. We know that energy bills are at their peak during the summer due to high electricity usage, and this proposal helps reduce the costs when customers need it the most,” said Doug Cannon, NV Energy President and CEO.
The provider previously released a statement in May on their intentions to ask the Public Utilities Commission to reduce energy costs.
In Southern Nevada, the average single-family residential customer using 1,800 kilowatt hours of energy – the average for July 2022- will save approximately $50 per month over the months of July, August and September, according to NV Energy.
The move to reduce costs comes after a spike in 2022 when the company says the price they paid for natural gas consistently increased by more than 70%, peaking in January 2023.
Representatives said in a Tuesday statement that, provided natural gas prices remain stable, the cost increase customers are currently experiencing is expected to decrease over the next year as the high 2022 natural gas costs roll off and NV Energy experiences lower natural gas prices in the future.
