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Nev. regulators approve $83.7M rate reduction for NV Energy customers

Nevada regulators on March 22 authorized Nevada Power Co. and Sierra Pacific Power Co. to lower their electric and natural gas rates by $83.7 million as a result of savings from the federal tax reforms, effective April 1.

The NV Energy Inc. subsidiaries voluntarily requested the Public Utilities Commission of Nevada on Feb. 14 to approve the reductions across customer classes.

The approval will result to decreases of $4.15 per month, or 2.86%, for an average residential electric customer in southern Nevada and $2.81 per month, or 3.19%, for an average residential electric customer in northern Nevada. Meanwhile, average residential gas customers will see a decrease of $1.08 per month, or 2.72%, according to a March 22 release.

NV Energy is instructed to work with the regulatory operations staff of the commission to make the required changes pursuant to the new tariffs. The PUC expects to issue a final order after an additional hearing on June 15.

Both companies do business as NV Energy, which is a subsidiary of Berkshire Hathaway Energy.