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November 26, 2009

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Lower power rate hike is sought

Monday, April 15, 2002 | 11:08 a.m.

A group that represents UNLV, hospitals and other businesses asked the state Public Utilities Commission this morning to reduce the money granted to Nevada Power Co. for energy used last year by an additional $12.7 million.

The Nevada Coalition of Commercial Energy Consumers filed the motion for reconsideration in Carson City asking for an additional decrease. The PUC on March 29 granted Nevada Power only $485 million of the $922 million the utility was seeking from ratepayers for energy used last March through September.

In its decision the PUC deducted $180 million from Nevada Power's request because it said the utility passed up an opportunity to secure a long-term, low-cost energy contract from Merrill Lynch in 1999. The coalition believes an additional $12.7 million should be deducted, citing an error by the commission in the way the value of the proposed contract was calculated.

Nevada Power on Thursday filed a lawsuit against the PUC in District Court in Carson City, arguing that it deserves the full $922 million because it was prudent in the purchase of all its energy last year. The utility argued that it did not sign the Merrill Lynch deal because of disputes over price and reliability of the contract.

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