On November 8th, the Energy Choice Initiative passed with more than 72 percent of the vote. In Clark County, that number was higher, with over 76 percent of voters voting yes to establishing an open, competitive energy market that prohibits the granting of monopolies of and exclusive franchises for the generation of electricity.
Following the initial passage of the Energy Choice Initiative, the PUCN denied NV Energy’s request to purchase a 504-megawatt natural gas plant citing that it “requires ratepayers to make a longterm commitment to an additional utility-owned natural gas facility approximately one month after voters overwhelmingly passed a ballot initiative seeking energy choice, two months prior to the convening of the 79th session of the Nevada Legislature, and in spite of the continued departures of large customers,” which changes the economics of such an acquisition according to the state’s Bureau of Consumer Protection.
To date, several of NV Energy’s largest customers, including MGM Resorts International, Wynn Resorts, Caesars Entertainment and Switch, have left or filed to leave the utility in search of cheaper or more renewable sources of power.