Energy Procurement, Regulation, Utilities, Regulation, Sourcing Renewables - November 9, 2016
Nevada approves C&I-backed deregulation proposal
Voters in Nevada on Nov. 8 approved a ballot initiative backed by data company Switch and the Las Vegas Sands casino aimed at breaking up the monopoly of electric utility NV Energy, according to The Associated Press.
Approval of the initiative, which follows attempts from both Switch and Las Vegas Sands Corp. to stop buying power from NV Energy, calls on Nevada lawmakers to create a framework for deregulating the state's electricity market, according to the AP report. Two other large Nevada-based commercial and industrial energy users, MGM Resorts International and Wynn Resorts, ceased purchasing power from NV Energy earlier this year, but were required by state regulators to pay tens of millions of dollars to do so.
The measure, called the Energy Choice Initiative, needs to pass a consecutive vote in 2018 before it can become an amendment to the state constitution, the AP reported.