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November 27, 2009

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Utility seeks rate hike

Wednesday, July 21, 1999 | 11:08 a.m.

Nevada Power Co. of Las Vegas filed for a $44.3 million rate increase, the last that will be permitted until 2003.

The case was permitted by a provision in state law allowing Nevada Power to seek one last fuel cost adjustment before it merges with Sierra Pacific Resources of Reno July 28. Sierra Pacific will not be permitted the same adjustment.

Nevada Power is attempting to raise rates by 4.9 percent. Residential customers would see a 7.7 percent increase, while commercial customers would see a 2.7 percent hike. Residential customers would pay 70 percent of the rate hike. Nevada Power said it's following state orders by raising residential rates much higher, stating that the new rates better reflect the high cost of serving residential customers.

Once competition begins in March 2000, the merged Nevada Power-Sierra Pacific won't be permitted to raise rates on customers who were with the company prior to competition. The utility will be free to set market rates for customers who enter the competitive market.

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