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Tuesday, May. 9, 2023

Did electricity prices rise in Nevada during the 2022-23 winter?

Esther Tsvayg, The Nevada Independent
yes

Increased electricity usage in Nevada due to colder-than-usual temperatures, combined with higher costs of natural gas, which fuels electricity-generating power plants, drove up electricity prices this winter. From January to March 2023, the average temperature in Las Vegas was the lowest it’s been since 1987.

In Nevada, electric power prices jumped from October 2022 to January 2023. Rising prices have been attributed to the fact that natural gas demand in the U.S. is well above available supply, which is limited in the Western U.S. in particular — especially in the aftermath of winter storm Uri in 2021 and the Russian invasion of Ukraine. According to the public utility NV Energy, these rising prices are being passed on to customers as a pass-through cost.

NV Energy anticipates higher summer electricity bills as well due to rising natural gas prices and a general residential rate increase of 3.34%, which went into effect Jan. 1, 2023.

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The Nevada Independent is a nonpartisan, nonprofit news and opinion website founded in 2017 by veteran political journalist and commentator Jon Ralston. The site and its supporting channels are focused on ethical, unbiased and transparent journalism. In general, we aim to gather and disseminate important public information and increase civic engagement. We are supported by corporate donations, memberships, event ticket sales and sponsorships and foundation grants. We disclose all our members and donors. Donors have no influence over our content, ever. The Nevada Independent is the dba for Nevada News Bureau, Inc., a 501(c)3 nonprofit founded in 2010 by Elizabeth Thompson, who now serves as one of The Nevada Independent's managing directors and its Editor.

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