PUC: NV Energy should refund customers’ money
By Andrew Doughman, Las Vegas Sun
In an unprecedented move, two state agencies are arguing that NV Energy should refund its customers a total of about $14.6 million.
The state’s Bureau of Consumer Protection and staff at the Public Utilities Commission of Nevada say the utility basically earned too much money last year, so it should give some of it back to you, the ratepayer.
Both agencies filed testimony Wednesday arguing the company should refund the money.
The regulated monopoly has what’s called an authorized rate of return, but it’s possible it could earn a profit beyond what’s allowed by the PUC.
Last year, when the company reported $322 million in record profits, it also collected $14.6 million in energy efficiency charges.
