NV Energy makes required annual deferred energy filing
NV Energy has made its annual deferred energy filing with the Public Utilities Commission of Nevada (PUCN).
The filing does not change fuel and purchased power rates. The filing does request changes to mandated public policy charges that the company collects for the renewable energy program rate, temporary renewable energy development trust charge, energy efficiency program rate and the energy efficiency implementation rate.
Fuel and purchased power rates will decrease on April as part of a previous filing. A typical northern Nevada single-family residential electric customer bill of $82.17, based on average usage of 758 kilowatt-hours a month, will see a decrease of 2.98 percent, or $2.45. These rates, which are also projected to decrease on July 1 and Oct. 1, 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.
The filing made today seeks to reset the mandated public policy rates, which, if approved as filed, will result in an overall increase of approximately 4 percent, or $26 million in revenue. The increase is primarily due to a decrease in a refund to the renewable energy program rate currently shown as a credit on customers’ bills. This rate funds the RenewableGenerations program, which provides cash incentives to offset the installation costs of customer-owned distributed renewable generation including solar, wind and hydro. In 2015, NV Energy refunded $29.5 million to customers. Today’s filing requests permission to reset that refund amount to an estimated $1.8 million, effective Oct. 1, 2016.
“Single-family residential customer bills in northern Nevada have gone down 17 percent in the last year as a result of our diligence in managing our expenses and lower fuel and purchased power costs,” said Paul Caudill, president and chief executive officer for NV Energy. “It is also important to point out that if current fuel and purchased power forecasts hold, reductions would more than offset the increase associated with the renewable energy program rate. We understand we are in a competitive market and remain committed to providing stable rates.”