NV Energy presents plan to cut costs for customers
NV Energy has launched a four-step plan to reduce energy costs for customers and companies alike amid the coronavirus outbreak.
“The COVID-19 pandemic has created unprecedented financial hardships for the residents and businesses of Nevada,” reads a Monday statement from the utility. The plan should “help customers and Nevada with economic recovery.”
In March, the company said it would temporarily waive nonpayment-related disconnects for customers directly affected by COVID-19, and developed extended payment options.
The NV Energy Foundation then donated $1 million to nonprofits throughout the state as part of step two. These donations were meant to help provide “nutritional, housing and health support and expanded energy assistance.”
The third step is set to begin next month, when the utility files a $120 million reduction for customers in Southern Nevada. If approved, the reduction would go into effect Jan. 1, 2021.
According to the statement, this is the largest reduction the company has ever requested, and is in addition to the $105.7 million decrease NV Energy implemented statewide on April 1 and the $30.6 million rate decrease that would go into effect on Oct. 1, if approved by the Public Utilities Commission of Nevada.
The final stage of the plan is NV Energy’s move to have its Customer Price Stability Tariff approved. The tariff would “create jobs and drive economic development” through the construction of solar energy and battery storage resources in Nevada.
These resources would then offer reduced energy prices and price stability for various businesses and government entities, which would in turn help these customers “put people back to work” and “provide critical services to communities during this time of recovery,” according to the statement.
Cities, counties, school districts and institutions of higher education, as well as some of the state’s largest employers, would be eligible for the tariff. NV Energy President and CEO Doug Cannon said this program will not raise rates for other customers.
Contact Bailey Schulz at bschulz@reviewjournal.com or 702-383-0233. Follow @bailey_schulz on Twitter.
