Deal lets North Las Vegas buy Hoover Dam power for 50 years

Hoover Dam and the Mike O'Callaghan-Pat Tillman Memorial Bridge are seen from Lake Mead on May 27. (Daniel Clark/Las Vegas Review-Journal) Follow @DanJClarkPhoto

The turbine room inside Hoover Dam as seen Thursday, March 20, 2014 at Hoover Dam.Almost two-fifths of the workforce at the federal facility is expected to retire within the next five years. (Jeff Scheid/Las Vegas Review-Journal)

The turbine room inside Hoover Dam as seen Thursday, March 20, 2014 at Hoover Dam. Projections from the U.S. Bureau of Reclamation indicate Lake Mead could fall low enough next year to reduce power generation and shut down one of the intake pipes used to supply the Las Vegas Valley with water. (Jeff Scheid/Las Vegas Review-Journal)

North Las Vegas will purchase energy generated at Hoover Dam for 50 years, under a deal approved Wednesday night by the City Council.

The city will purchase 1.7 megawatts of electricity generated at the dam for 15 years beginning Oct. 1, 2015. After that, the city would purchase .763 megawatts through September 2067, according to the agreement struck with the Colorado River Commission of Nevada.

North Las Vegas will pay a $127,627 capital investment charge for the service, which will be repaid interest-free during the first five years. Estimated savings are projected at $104,385 through 2022, increasing by about $25,525 annually after that, according to a city report.