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PUC approves 4.4 percent electric rate increase

Thursday, July 8, 2004 | 10:58 a.m.

The state Public Utilities Commission on Wednesday approved a 4.4 percent electric rate increase for Sierra Pacific Power Co. of Reno.

The rate increase will allow the utility to recover $42 million in past fuel and purchased power expenses over 27 months, beginning July 15. The increase will cost the typical residential customer $2.80 per month.

The commission is allowed to spread rate increases over 36 months, but by trimming that time it reduces the interest expenses and other so-called carrying charges electric utilities incur and ultimately pass on to customers.

The commission also will investigate methods for updating the rate-setting procedures for cases in an effort to more effectively set rates and prevent large unrecovered balances for power and fuel like the $42 million in the Sierra Pacific case and $93 million in a Nevada Power Co. case decided earlier this year.

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