News Releases

Southern NV Energy Prices to Decrease Again on July 1

June 29, 2016
4:30pm

All Customers to Benefit from Fifth Consecutive Quarterly Decrease

Effective Friday, July 1, NV Energy southern Nevada residential, commercial and industrial electric customers will experience an overall electric price decrease of 1.47 percent. These rates are associated with fuel used in power production and the company's generating stations. Fuel and purchased power costs are passed through dollar for dollar with no profit to the company.  The reduced prices are the result of both lower fuel costs and lower total energy costs following recent changes made by NV Energy to gain greater access to low-cost power.

A typical southern Nevada single-family residential customer bill of $136.29, based on average usage of 1,141 kilowatt-hours a month, will see a decrease of $2.55, or 1.87 percent for a new total bill of $133.74. Combined with the four rate decreases experienced in July and October of 2015 and January and April of this year, a typical single family residential customer bill has gone down $20.81, or 13.5 percent, since June 30, 2015.

"It's exciting to pass on this fifth consecutive quarterly price decrease as we enter the hottest months of the year when our customers are using more energy," said Paul Caudill, NV Energy President and CEO. "This decrease reflects our commitment to providing stable or even lower prices for our customers. As a matter of fact, residential customer's bills are even lower today than they were in the summer of 2007, when the average bill was $138."

 

NV Energy, Inc. provides a wide range of energy services to 1.3 million customers throughout Nevada and more than 40 million tourists annually. NV Energy is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. The company is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company's website, Twitter, Facebook and YouTube pages, which can be accessed via nvenergy.com.

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For further information: Jennifer Schuricht, NV Energy 702-402-5241, jschuricht@nvenergy.com