Tough Bill To Swallow: Electric, Gas Rate Hike Next Year In Las Vegas
Here’s some news that’ll make you feel dreary and fright. NV Energy and Southwest Gas are giving the warning to customers that energy bills are going to jump on January 1st. Were you expecting something different in your stocking?
Let’s start with NV Energy. The electric power provider announced in a filing late last month that rates will be rising from 11 percent to over 18 percent. Single family residential service finds it’s hike right in the middle at $23.43 – a 14.06% increase. If you have a single family house and an electric car that gains you access to special time of use plan rates, your base rate will be going up anywhere from 16.5% to 18.21%, up to $30.80 and $43.41 respectively, depending on which plan you have.
It’s all about the Benjamins… but don’t blame them(?)
NV Energy is throwing up its hands and making it known it’s not them. They won’t make a profit on the hike. It all comes down to the cost of natural gas. The price of natural gas has increased 65 percent since January 2021, which does check out (although it pales in comparison to what we used to pay for natural gas in 2015 – more than double today’s prices).
Natural gas is the main source of electricity in Nevada (61%) although that’s the smallest share in the past 16 years according to the EIA.
Nevada is one of the leading states in the country when it comes to renewables. Unfortunately there is not enough to go around. Not yet at least. If you have the means, maybe it’s time to look into solar? Nice little tax break and a much lower electric bill await you.
Considering natural gas is the culprit, you’d be correct: Southwest Gas is intending on increasing rates at the first of the year too. The increase is expected to amount to a 4.8% increase to your average home bill… just shy of $3 a month.
