Commercial, Utilities - November 20, 2018
Raiders stadium applies to leave NV Energy
LV Stadium Events Co., a subsidiary of the Las Vegas Raiders, filed an application with the Nevada Public Utilities Commission to leave NV Energy. The company issued a request for proposals from service providers and expects to complete the selection process by Dec. 1.
In a report from the Las Vegas Review-Journal, Don Webb, COO for the LV Stadium Co., said it is “preserving our option” to choose an energy provider. “That’s not to say it wouldn’t be NV Energy,” he said. “We’re looking at that option as well.”
The 65,000-seat stadium is currently under construction and has not established a permanent electric service. The report noted that the power being used in the construction process comes from NV Energy and goes through a contractor. The stadium’s energy delivery services will begin around April. Documents filed with the PUC said the stadium’s anticipated annual load will reach 50 megawatt-hours per year with a peak load of 18 megawatts.
The Review-Journal noted a growing number of companies have sought PUC approval to exit NV Energy, including MGM Resorts International, which left NV Energy in 2016 after paying $86.9 million in exit fees. Caesars Entertainment Corp. left this year after paying $47.5 million. The exit fee is meant to offset a company’s departure and negate unexpected costs for NV Energy’s remaining customers.