greedy NV Energy wants more revenue (utilities, tax, costs)

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NV Energy revenue rising without rate hike - Business - ReviewJournal.com

The crooks at NV Energy want more profit by stealing from consumers what should be a rate decrease.

State consumer advocate says :

"state consumer advocate Eric Witkoski called NV Energy's request for bigger equity returns "very concerning and not justified."

"Instead, the company is attempting to mask a substantial rate increase with the customers' own money -- with over-collected fuel prices.""

I have been harping on this for a couple of years now. Natural Gas prices have declined dramatically over the last couple of years, yet NV Energy will not drop rates. Instead, they are asking for a general rate increase in revenue that would be offset by the reduction in their fuel costs... so instead of reducing rates based on their costs savings, they want to keep it for themselves! all the while acting as good samaritans by not asking for higher rates ...""With the economy where it is, we would like to offer ways to mitigate the effects of rate increases".

RJ article quote:

"Start with a rapid drop in the cost of natural gas, which NV Energy buys for its generating stations. The utility over-collected on purchased power and fuel costs in 2010, as natural gas prices slumped below rates set by the commission. Prices for the commodity have fallen from around $12 per million British thermal units in mid-2008 to about $4 today.
Add in anticipated reductions in fuel and purchased power prices come January, plus additional rate adjustments, and the company said it has $182 million in approved or pending pass-through rate decreases. That helps offset the $246 million increase in operating revenues."


""It is a disappointing day for consumers. Their rates should be coming down because of falling natural gas prices," he said.