September 27, 2016 2:48 PM ET

Electric Utilities

Company Overview of NV Energy, Inc.

Company Overview

NV Energy, Inc., a public utility, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electric energy in Nevada. It also delivers natural gas services. The company serves electric retail customers, including residential, commercial, and industrial customers in Nevada, as well as retail natural gas customers in northern Nevada. As of October 01, 2014, it served 1.3 million customers. NV Energy, Inc. has a strategic alliance with Nevada Copper Corp. to conduct a study of the potential to develop a solar energy generation project. The company is headquartered in Las Vegas, Nevada. NV Energy, Inc. operates as a subsidiary of Berkshire Hathaway Ener...

6226 West Sahara Avenue

Las Vegas, NV 89146

United States

Phone:

702-402-5000

Key Executives for NV Energy, Inc.

Chief Executive Officer and President
Age: 62
Chief Financial Officer, Principal Accounting Officer and Corporate Vice President
Age: 52
Senior Vice President of Government and Community Strategy
Age: 50
Senior Vice President of Customer Relationship
Age: 68
Senior Vice President of Energy Supply
Age: 50
Compensation as of Fiscal Year 2016.

NV Energy, Inc. Key Developments

NV Energy Plans to Shut Down Coal-Fired Power Plant in Southern Nevada

NV Energy announced that its plans to shut down a coal-fired power plant in southern Nevada 10 months earlier than planned. State lawmakers passed a bill in 2013 that called for the shutdown of coal-fired plants. Three units of the Reid Gardner Generating Station near Moapa were shut down at the end of 2014, and the company now wants to close the fourth on February 28, 2017.

NV Energy, Inc. Seeks Approval from Public Utilities Commission of Nevada for New 100-Megawatt Solar Project in Boulder City, Nevada

NV Energy, Inc. requested that the Public Utilities Commission of Nevada approve a new 100-megawatt solar project in Boulder City, Nevada and an earlier retirement date for the remaining 257-megawatt unit at the Reid Gardner Generating Station. The proposal asks to move the original December 31, 2017, retirement date to February 28, 2017. NV Energy noted that the filing is its next step in the transformation of NV Energy's fuel mix, moving to a cleaner, more balanced generation portfolio. This request aligns with the Nevada legislature's 2013 directive in Senate Bill 123 for a structured and orderly retirement of coal-fired generation in southern Nevada and replacing that generation with renewable energy and natural gas-fueled resources. The company retired the first three generating units at Reid Gardner at the end of 2014 and is also exiting its participation in Arizona's Navajo Generating Station by the end of 2019.

Switch Sues Nevada electricity regulators and NV Energy

Switch sued Nevada electricity regulators and NV Energy, saying it got an unfair deal when it tried to leave the grid and suffered at the hands of a former state employee who tweeted about the company's case under a fake name. Switch filed the lawsuit Tuesday in federal court in Nevada. The lawsuit is alleging fraud, negligence and conspiracy, and it seeks at least $30 million in damages to compensate for higher rates the company had to pay through the arrangement that regulators approved. Switch argues that the motive was "to unlawfully retain Switch as a customer of the monopoly NV Energy and impair renewable energy development in the State of Nevada, all while unlawfully enriching NV Energy. Switch applied to leave NV Energy and buy power directly from a solar company in late 2014. Regulators barred the company from leaving outright, saying Switch would harm the overall customer base if another company of its size didn't fill in the gap, according to the complaint. Regulators ultimately allowed the company to strike the deal, but with NV Energy as a pass-through agency. Other companies have since been authorized to leave the grid if they pay an exit fee, including MGM Resorts International and Wynn Resorts, which are paying more than $100 million combined to reduce the financial impact their departure would have on NV Energy.

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