Just What We Need: Even Higher Energy Bills
Get ready for even higher energy bills in Southern Nevada to start the New Year.
Inflation has hit just about every sector of our economy over the past year. Now, the price of natural gas continues to drive up the cost of providing electricity and gas to our homes. I hate to start off the New Year with bad news, but facts are facts, and we need to be prepared.
According to an article written by Shakeria Hawkins on KTNV.com, your utility bills from NV Energy and Southwest Gas may look a little different this month. That is because these companies are raising their rates a whopping 14%! They had already raised rates in October 2022 by 6%. Add them together and we have seen a 20% increase in energy costs for our homes in Southern Nevada in the past four months. Did you get a raise in the past four months? I did not either.
Per Hawkins’ article on KTNV.com, Jennifer Schuricht, NV Energy’s Director of Communications, says the company does not make a profit off of these rate hikes. She explained how NV Energy determines energy rates: “The company first assesses its quarterly costs and then changes the pay rate to recover losses and keep up with rising prices.”
Schuricht went on to say, “The cost of that rate is really the reflection of the actual cost of what we paid for fuel. So as soon as we see that cost go down that decrease will be passed down to our customers as well.”
If you need help paying your energy bills, you can CLICK HERE for more information.
Let’s be friends! 👍 Follow us on all social media platforms:
Twitter: https://twitter.com/kklz963
Instagram: https://www.instagram.com/kklz963/
Facebook: https://www.facebook.com/kklz963/
Larry Martino is the long-time Afternoon Drive personality on 96.3 KKLZ. The views and opinions expressed in this blog are those of Larry Martino and not necessarily those of Beasley Media Group, LLC.
Top U.S. Cities For Home Ownership: See Where Las Vegas Ranks
5 - Seattle, Washington
Seattle home prices did not rise as much as they did in Las Vegas, settling in at a 14.4% annual home price increase. There is a good number of available contractors in the area, and the home insurance costs averaged around $878 per year, placing them fifth in this survey.
4 - Pittsburgh, Pennsylvania
In fourth place in the rankings, Pittsburgh has a very high concentration of contractors available for home improvement projects. Home values rose by 13.5% between second quarter 2021 and second quarter 2022. Homeowners insurance costs averaged just over $1,000 per year, adding about $83 per month to your mortgage payment.
3 - Phoenix, Arizona
Our desert neighbors in Phoenix placed third on TheZebra.com list. Although homeowners insurance is a bit higher in that region, averaging $1,410 per year, home values increased 21.7% during that 12-month period. The city also boasts a healthy concentration of contractors for home improvement projects.
2 - Las Vegas, Nevada
Here in Las Vegas, home values increased 24.5% between second quarter 2021 and second quarter 2022, with homeowners insurance remaining relatively low, at an average clip of $841 dollars per year. That adds about $67 dollars a month to our mortgage payments. Plus, contractor availability is fairly strong here in Southern Nevada. We took the runner-up spot.
1 - Salt Lake City, Utah
About six hours away on I-15 North, we make a pit-stop in Salt Lake City, Utah, the winner of this particular survey. Plus, this city boasts the highest concentration of contractors in the survey, which makes getting competitive bids much easier for home makeover projects. SLC also has one of the lowest homeowners insurance rates in the nation, averaging about $740 a year.
