NV Energy uses natural gas to produce electricity.
The cost of natural gas has risen steadily this past year.
There can be several reasons for the increase in natural gas prices, including:
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Supply and demand factors: When demand for natural gas increases, prices tend to rise. Conversely, prices can drop when there is an oversupply of natural gas.
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Weather patterns: Temperature changes can affect demand for natural gas, as it is commonly used for heating. Severe cold or hot weather can increase demand and cause prices to rise.
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Infrastructure constraints: The transportation and storage of natural gas can be limited by the available infrastructure, which can affect supply and increase prices.
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Political and economic factors: Natural gas prices can also be influenced by geopolitical tensions, government policies, and economic conditions. For example, sanctions or trade restrictions on major natural-producing countries can reduce supply and increase prices.
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Market speculation: Finally, speculation in the natural gas market by investors and traders can also affect prices.
NV Energy says to expect cost adjustments quarterly.
The rate we pay NV Energy for the natural gas they purchase is adjusted every January 1, April 1, July 1, and October 1.
Click here to see a copy of the email sent to customers about rates.
By making small changes, you can reduce your bill.
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Turn off lights and electronics when not in use.
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Use LED light bulbs which are energy efficient.
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Unplug chargers and other electronics when not in use.
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Use power strips to reduce standby power consumption.
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Use a programmable thermostat to regulate heating and cooling.
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Seal air leaks around windows and doors to reduce heating and cooling loss.
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Have Cooling/Heating equipment serviced.
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Install variable speed swimming pool pump.
You can significantly reduce your bill by investing in solar.
Investing in a solar energy system for your home or business can indeed help reduce your energy bills. Solar panels can generate electricity from sunlight, which can offset the amount of electricity you need to purchase from your utility company. Financial incentives for people who install solar panels, such as tax credits and net metering programs, can reduce the cost of going solar.