Milestones
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Filing date: June 3, 2013 |
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Expected Commission decision: within 210 days |
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Each of the companys two electric utilities is required to file a general rate case (GRC) every three years. There are no time requirements for
the gas division. |
Test Year
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Calendar 2012 with known and measurable adjustments through May 31, 2013. |
Revenue (Decrease) Increase Requested
($ millions)
Effective January 1, 2014:
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Electric |
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($9.4) or (1.4%) |
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Gas |
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$10.2 or 11.4% |
Impact on Customer Bills
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Electric commercial: average decrease of 2.81%. |
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Electric residential: because of shifts in cost of service, typical single family customer would experience an increase of 1.77%:
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Current typical bill = |
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$83.58 (746 kWh) |
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Proposed typical bill = |
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$85.06 (746 kWh) |
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Gas: typical single family residential customer would experience an increase of 11.04%: |
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Current typical bill = |
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$35.87 (56 therms) |
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Proposed typical bill = |
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$39.83 (56 therms) |
For more information, contact Investor Relations:
Max Kuniansky: 702.402.5627 or mkuniansky@nvenegy.com
Jessica Lucero: 702.402.5612 or jlucero@nvenergy.com
Key Drivers of Revenue (Decrease) Increase
($ millions)
Electric:
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O&M reductions |
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$ |
(19.9 |
) |
Reallocation of debt between electric and gas |
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(4.5 |
) |
Depreciation and amortization |
|
|
8.3 |
|
Return |
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6.0 |
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Other |
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0.7 |
|
Gas:
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|
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O&M reductions |
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$ |
(1.6 |
) |
Return and under-earnings |
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8.0 |
|
Reallocation of debt between electric and gas |
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4.8 |
|
Depreciation and amortization |
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0.8 |
|
Other |
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(1.8 |
) |
Proposed Rate Base ($ millions)
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|
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Electric |
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$ |
1,552.3 |
|
Gas |
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$ |
204.2 |
|
Capital Structure and Rate of Return
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Requested in this filing: |
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Electric |
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Debt/equity |
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53%/47% |
Return on equity |
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10.4% |
Overall return |
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7.74% |
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Gas |
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Debt/equity |
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53%/47% |
Return on equity |
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10.35% |
Overall return |
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7.72% |
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Approved in last NVE-North rate case (2010): |
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Electric |
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|
|
|
Return on equity |
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10.1 |
% |
Overall return |
|
|
7.86 |
% |
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|
Gas |
|
|
|
|
Return on equity |
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10.0 |
% |
Overall return |
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5.15 |
% |