RENO, Nev. (News 4 & Fox 11) — Prices are going up seemingly everywhere for everything and now it’s happening in an area most people don’t bother to take a second look at — their monthly utility bill with NV Energy (NVE).
The annual inflation rate made its way to 6.8% last month, the highest its been since June of 1982, according to Trading Economics. Reno residents have been seeing this at the gas pump, the grocery store, and now their NVE bill.
We spoke with a couple of Reno residents this week sharing their frustrations and confusion on a Reddit post. One of them said December’s bill last year was a total of $71 and it’s now projected to be $117 by the end of the month.
Another Reno Redditor claimed a 57% increase compared to the same month last year. Another person noted a 40% increase between a monthly bill compared to last year’s. The residents all said their electric and gas use habits haven’t changed all that much.
NVE confirmed the rate increase with the News 4-Fox 11 Team today. NVE said they have been including a heads up about the change with quarterly inserts in residents’ bills. NVE provided us with a look at the quarterly inserts sent out.
As far as why the change is happening, NVE said natural gas prices have gone up and so they have to charge more — which also impacts electricity because natural gas is used to produce energy as well here in northern Nevada.
So how much are the actual rate of natural gas and electric use changing? NVE shared October’s rate from this year versus last (bolded is 2021 numbers):
- October 2020=$0.40391 Natural Gas Rate. The average natural gas total for residential customers was $35.81.
- October 2021 =$0.52972 Natural Gas Rate. The average natural gas total for residential customers was $42.60.
- October 2020 =$0.07929 Electric Total Rate. The average electric total for residential customers was $75.99.
- October 2021 =$0.10269 Electric Total Rate. The average electric total for residential customers was $93.91.
NVE said the increase is dollar to dollar, so its no profit for the company. They also want to provide the public with as many conservation tips as possible. According to NVE, here is what you can do to lighten the financial load:
- Set your water heater to 120 degrees
- Clean or replace HVAC filters monthly
- Set your thermostat to 68 degrees
- Run full loads of dishes and laundry
- Weatherstrip doors and windows
- More tips here
NVE said it does not look like natural pricing will change anytime soon, which means rates may remain where they are or continue going up.
A majority of power is generated using natural gas, said NVE, but they also utilize solar energy as well.
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