NV Energy Rate Cut Coming

Come October 1st, NV Energy customers (that's just about all of us) will be getting a break on their natural gas and electricity bills. The average decreases will be 7.6% for electricity and 8% for natural gas. In dollars, that translates to monthly reductions for the typical customer of $7.21 for electricity and $5.84 for gas.

The Public Utilities Commission of Nevada requires the company to make quarterly adjustments to rates based on its costs for fuel and purchased power. Any changes, both increases and decreases, are passed along to customers on a dollar-for-dollar basis. In this case, NV Energy revenues will decrease about $51 million for electricity and $6 million for gas, but it has no effect on profits because it reflects their reduced costs. With the volatility of energy markets these days, I'd say it's a safe bet to consider these price reductions temporary at best.

Speaking of energy costs, now is the time to start preparing for the cold winter months. Simple things like caulking and fixing air leaks will help you stay warmer while keeping a lid on the utility bill. NV Energy has a whole list of Energy Tips to help you do just that, and many of them are free.

There is help available for those having difficulty keeping up with their utility bills. Qualifying for the State of Nevada Energy Assistance Program is based on income and there are two programs available. The Energy Assistance Program makes direct payments to the utility company on your behalf and the Weatherization Assistance Program helps make homes more energy efficient with things like insulation and weather stripping.

Source: NV Energy, Reno Gazette-Journal.

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