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November 9, 2009

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Company shops for power

Friday, March 1, 2002 | 11:02 a.m.

MGM MIRAGE has sent formal notice to the state of Nevada that it intends to search for alternative suppliers of electricity.

The letter, filed with the Public Utilities Commission of Nevada in late February, is the first step in a process that could see the Las Vegas casino giant leave Nevada Power Co. The commission will have to determine the effect MGM MIRAGE's departure would have on other Nevada Power customers, and how much the company would have to pay the utility as an "exit fee."

"It will be a minimum of 210 days before we could begin purchasing power outside of the (Nevada Power) system," said Mark Russell, vice president and general counsel at the Mirage hotel-casino.

MGM MIRAGE would be unable to make a final determination on whether it will leave Nevada Power until it goes through the application process, Russell said, because the company cannot get firm quotes from electricity suppliers until its application is approved.

Under state law, only the state's largest consumers of electricity may leave Nevada Power for another supplier.

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