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November 9, 2009

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Nevada Power seeks higher rates

Monday, Oct. 1, 2001 | 10:52 a.m.

Nevada Power Co. today plans to apply to the state Public Utilities Commission to raise electric rates in Clark County, but the amount of the increase is being kept confidential until the application is filed.

The dominant electricity provider for Las Vegas is filing for a general rate increase covering administrative expenses today and will seek another much larger increase to cover higher fuel costs in December. If they're both approved by the PUC, they could both take effect in April.

In a general rate increase, the utilities commission adjusts rates based on costs in all segments of the power company, as opposed to only fuel costs in a "deferred energy" case.

Under Nevada's new energy law, today is the last day for Nevada Power to file for general rate increase.

State Consumer Advocate Tim Hay has estimated the company will seek about $40 million in new revenue in the general rate request.

The utility must file a second request by Dec. 1 to be reimbursed for the unexpected amounts spent in buying power from other sources.

Hay has estimated that rate increase application could be up to $900 million.

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