News

 03.14.18/
Press Release

Release: Nevada’s Retail Power Rates Increased in 2017

NEVADA RANKS 24th IN THE NATION FOR 
RESIDENTIAL POWER COSTS
Nevadans See Pow­er Bills Rise Again in 2017

 

     

     

March 14, 2018 -  On Feb­ru­ary 20, 2018, NV Ener­gy released a state­ment prais­ing Nevada’s “low” ener­gy rates, claim­ing an aver­age rate of 8.38 cents/kWh. Once again, they have used “monop­oly math” to mis­lead the pub­lic about what they, as the pow­er monop­oly, charge their res­i­den­tial cus­tomers.  Accord­ing to the lat­est data from theEner­gy Infor­ma­tion Admin­is­tra­tion (EIA), the fed­er­al agency that tracks pow­er rates, Nevada’s res­i­den­tial cus­tomers saw aver­age res­i­den­tial rates under NV Ener­gy’s monop­oly rise in 2017.  On aver­age, Nevada’s res­i­den­tial cus­tomers saw their rates increase more than 5% in 2017 when com­pared to 2016.Nevada fell four spots to 24th amongst states in res­i­den­tial rates in 2017, accord­ing to the EIA data above.  Res­i­den­tial rates in Neva­da are up over 50% since 2000 accord­ing to the EIA, out­pac­ing the rate of infla­tion.

When com­pared to Texas, a state that has already enact­ed ener­gy choice, Nevada’s res­i­den­tial price/kWh was high­er.  Texas cus­tomers who ben­e­fit from com­pe­ti­tion in choos­ing their ener­gy provider paid near­ly 7% less than NV Ener­gy’s cus­tomers at the end of 2017.  A July 2015 study enti­tled “Evo­lu­tion of the Rev­o­lu­tion: The Sus­tained Suc­cess of Retail Elec­tric­i­ty Com­pe­ti­tion”, shows ener­gy choice states saw their over­all pow­er prices fall on aver­age 4.5% against infla­tion, while states under a monop­oly util­i­ty have seen prices rise about 8.4% more than infla­tion, as illus­trat­ed in the chart below.

Ener­gy choice states have seen prices fall, while monop­oly util­i­ty states have seen prices rise faster than infla­tion


Source: Click Here

Under the pow­er monop­oly, Nevadans are pay­ing more than they should for elec­tric­i­ty.  A look at an aver­age NV Ener­gy bill in Neva­da, cov­er­ing Jan­u­ary 12th to Feb­ru­ary 12th, 2018, as illus­trat­ed in the bill below, shows that when all fees are con­sid­ered, NV Ener­gyres­i­den­tial cus­tomers pay 12–13 cents/kWh annu­al­ly; high­er than NV Ener­gy’s pub­licly claimed 8.38 cents/kWh aver­age.  Despite sea­son­al fluc­tu­a­tions, this monop­oly math is con­sis­tent­ly incor­rect.
Don’t let the monop­oly do the math for you.
Get your pow­er bill and do the math for your­self.
Neva­da should have the low­est rates in the Unit­ed States. Peri­od.

ABOUT THE ENERGY CHOICE INITIATIVE

ECI will give Neva­da cus­tomers more ener­gy options and low­er costs by giv­ing them the abil­i­ty to choose their ser­vice providers based on impor­tant fac­tors such as price, reli­a­bil­i­ty, and the abil­i­ty to choose to pur­chase more renew­able ener­gy. The peti­tion directs the Neva­da Leg­is­la­ture to enact laws to estab­lish an open, com­pet­i­tive elec­tric­i­ty mar­ket.

ABOUT NEVADANS FOR AFFORDABLE CLEAN ENERGY CHOICES

The Nevadans for Afford­able Clean Ener­gy Choic­es PAC is a statewide coali­tion rep­re­sent­ing Neva­da vot­ers, large and small employ­ers, com­mu­ni­ty lead­ers, and con­sumers with a goal to open Nevada’s ener­gy mar­kets and give con­sumers the option to pur­chase renew­able ener­gy and low­er over­all ener­gy costs. Vis­ithttp://energyfreedomnv.com/ for more infor­ma­tion on Ques­tion 3 and the Ener­gy ChoiceIni­tia­tive.

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