Commercial, Energy Procurement, Utilities, Sourcing Renewables - July 12, 2016
MGM, Wynn move forward with plans to stop buying power from NV Energy
New filings with the Nevada Public Utilities Commission indicate MGM Resorts International and Wynn Resorts Ltd. intend to proceed with their plans to stop purchasing power from their utility, NV Energy.
In a July 8 filing, MGM Executive Vice President John McManus wrote that MGM will become a distribution-only service customer of NV Energy and will purchase the electricity for its resorts and other facilities in southern Nevada from Tenaska Power Services, while NV Energy will continue to provide local electricity network services such as balancing and emergency supply reserves to the company. MGM intends to pay the exit fee ordered by the commission for its action on or before Oct. 1.
"It is our objective to become a more sustainable company by decreasing the use of energy and aggressively pursuing sources of renewable energy," McManus wrote. "Significant investment in conservation technologies have allowed us to reduce energy consumption in our Southern Nevada facilities by 13% since 2007. We have also constructed onsite energy generation at CityCenter where waste heat provides the hot water needs for face major facilities. This week Mandalay Bay also went operational with the final phase of the largest rooftop solar photovoltaic array in the United States."
In a June 23 filing, Wynn Resorts said it, too, will move forward with its exit, and pay its share of the fee imposed for doing so, also by Oct. 1.
NV Energy is a subsidiary of Warren Buffet's Berkshire Hathaway Inc.
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