LAS VEGAS (KTNV) — Southwest Gas reported its "highest annual earnings" in 2023 as local customers lament increases to their utility bills.
In an earnings call on Wednesday, the company reported an adjusted net income of $242.2 million last year — up from $154.4 million in 2022.
Along with an increase in new customers, part of that increase comes from adjusted utility rates, Southwest Gas noted in a presentation for investors.
Customers are already fuming over recent gas rate hikes, with some reporting their bills have doubled or tripled in a matter of months.
A host of locals have showed Channel 13 examples of their gas bills. In one case, a resident saw their bill jump from $185 to $405. Another viewer showed an increase from $66 to $198. A Henderson homeowner told Channel 13 his bill went from $44 to $189 in just 30 days.
Channel 13 took our viewers' concerns to Southwest Gas. A company spokesperson explained the price consumers pay for gas is based on a 12-month rolling average. Southwest Gas cited changes in usage and in the cost of gas as the two main factors in higher-than-expected bills locals have been sent this winter.
In recent months, the utility provider has received approval from the Public Utilities Commission of Nevada for multiple rate increases. In making its case to raise prices for consumers, Southwest Gas argued it has been impacted by external factors and has to recoup expenses.
The rate increase impacting customers now is just one in a series of increases expected in the coming months. The next one, which is already approved, is expected to kick in starting April 1.
This comes as the Public Utilities Commission considers allowing Southwest Gas to increase utility rates by an additional 10%. A decision on that increase is expected in the coming weeks.
