NV Energy seeks summer rate reduction

If you noticed your gas bill increasing over the last three years, you’re not the only one.

In a release, NV Energy said the price it pays for natural gas consistently increased in 2022 by more than 70 percent and peaked in January of 2023, increasing nearly 500 percent since 2021.

One Gardnerville Ranchos resident said his natural gas bill tripled during the same time period.

“These significantly higher natural gas prices caused NV Energy’s costs to increase,” according to the company. “NV Energy files quarterly rate adjustments based on the actual natural gas prices paid by the company to recover these costs.”

But after the long winter, the company filed for an approximately 5-14 percent reduction for July, August and September, depending on a customer’s location and type of electric service they receive starting July 1.

“Provided natural gas prices remain stable, the cost increase customers are currently experiencing is expected to decrease over the next year as the high 2022 natural gas costs are paid off and NV Energy experiences lower natural gas prices in the future,” official said.

To speed up price relief, NV Energy is requesting that the Public Utilities Commission of Nevada modify how NV Energy collects its natural gas costs to provide rate relief to our customers.

“Our customers have all been impacted by the higher natural gas prices and the corresponding effect it has on our customers’ rates,” said NV Energy President and CEO Doug Cannon. “Recognizing the challenges higher energy rates create for customers, especially in the summer months, we decided to step in and deliver a solution. The goal of this proposal is to help reduce costs for customers during the hot summer months when energy bills are at their peak due to high electricity usage.”