LAS VEGAS (KSNV MyNews3.com) -- NV Energy customers will not have to face a rate increase for the first time in more than 30 years.
And, the rates currently in place could stay as is for the next three years, according to the Nevada attorney general's office.
NV Energy officials and the Public Utilities Commission of Nevada reached a stipulation today that would drop the estimated 1.64 percent rate increase the utility had been requesting.
The agreement was apparently hammered out after general rate increase hearings earlier this week drew dozens of people speaking against the proposed increase.
NV Energy declined comment on why it agreed to drop the rate increase request that would have raised rates nearly $4 a month for the average customer.
A public information officer for Attorney General's office wrote to News 3 in an email:
"Over last several weeks we have negotiated an agreement with NV Energy to prevent a fee increase for the next three years," Beatriz Aguirre stated. "We believe this is in the best interest for Nevadans. Especially for those still hurting from unemployment and the housing crisis."
The Nevada PUC could act on the agreement to make it official as early as Aug. 27. The stipulation will be entered Aug. 26 and discussed with possible approval the following day if all parties agree.