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NV Energy wins rate increase

The Associated Press

LAS VEGAS (AP) – Nevada’s dominant electricity provider can raise rates 3.4 percent beginning July 1 to cover the cost of energy efficiency programs.

A ruling Monday by the Public Utilities Commission of Nevada could mean an increase of almost $5.30 a month for the average NV Energy customer.

But company officials say the effect of the increase will be cut in half because a 1.7 percent rate decrease involving fuel and purchased-power costs also takes effect July 1.

The Las Vegas Review-Journal reports PUC order fell short of the 5.3 percent that NV Energy sought.

Company officials say NV Energy needs to pay for $71 million worth of programs like collecting old refrigerators and weatherizing homes of low-income customers, and $35 million to cover the loss of electricity sales due to conservation.