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November 16, 2009

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Shareholders join suit over rates

Monday, April 24, 2000 | 11:23 a.m.

CARSON CITY -- An organization representing an estimated 15,000 shareholders has joined Nevada Power Co. in its District Court lawsuit that seeks to increase rates by as much as $110 million.

The Utility Shareholders Association of Nevada filed its notice to participate in the suit against the state Public Utilities Commission last week.

Association President Joyce Newman said that rather than bringing a separate suit, the move to join in Nevada Power suit was made for "judicial economy."

Nevada Power originally sought a $44.3 million rate increase, then amended it to $110 million. The state commission first rejected the $110 million and then turned down the $44.3 million -- both on 2-1 votes. It then ordered a reduction in Nevada Power rates.

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