Those famous bright city lights of gamblers' paradise (Las Vegas) are lit by Nevada Power, a subsidiary of NV Energy (owned by Berkshire Hathaway Energy). The utility transmits and distributes electricity to 892,000 customers in southern Nevada, including in "Sin City," North Las Vegas, Henderson, Searchlight, Laughlin, and adjoining areas, including Nellis Air Force Base and the US Department of Energy's Nevada Test Site in Nye County. Nevada Power's 44 gas and coal generating units produces more than 5,500 MW of fossil-fueled capacity; it also buys power from the Hoover Dam and elsewhere and markets excess wholesale power. It is also pursuing the development of renewable energy power sources.
The company's regulated electric operation is conducted under numerous nonexclusive franchise agreements, revocable permits and licenses obtained from federal, state and local authorities. In 2015 it sold 21,129 million GWh pf electricity to residential, commercial, and industrial customers.
Nevada Power serves power to customers primarily in Las Vegas, North Las Vegas, Henderson, and adjoining areas in Nevada.
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The company distributes electricity via its interconnected transmission and distribution systems of 2,000 miles of transmission lines, 24,000 miles of distribution lines, and 200 substations.
In 2015 the company provided services to 782,000 residential, 104,000 commercial, and 2,000 industrial customers.
Nevada Power's net revenues increased by 2.8% in 2015 to $2.4 billion from $2.3 billion a year earlier, thanks in part to a growth in retail customer accounts.
In 2015 net income was $288 million, up 27% on 2014, due to lower impairment costs resulting from the settlement of the 2014 general rate case; higher electric margins from increased customer usage and growth; lower other operating and maintenance costs; and lower interest expenses. These were partially offset by higher depreciation and amortization of $23 million primarily due to higher regulatory amortizations.
Cash from operating activities was $892 million, up from $704 million in 2014.
NV Energy is pursuing a strategy to reduce its carbon emissions to meet state and federal regulations. It is actively pursuing, developing and constructing new or expanding facilities. To boost its clean energy power sources, Nevada Power has a joint ownership agreement with Ormat Nevada Inc. (a unit of Ormat Technologies) for the co-development of the Carson Lake geothermal energy project near Fallon, Nevada.
Further expanding its overall capacity, in 2015 the company placed in-service ON Line, a 231 mile line providing between 600 and 800 MW of transfer capability, connected to a $509 million 500 kV transmission line from the Robinson Summit Substation near Ely to the Harry Allen Generating Station. This project provides access to isolated renewable energy resources in northern and eastern Nevada.
In 2014 the company spent $40 million on energy efficiency programs, resulting in an estimated 145,937 MWh of electric energy savings and an estimated 37 MW of electric peak load management.
Parent NV Energy was acquired by Berkshire Hathaway Energy in 2013 in a $5.6 billion deal.
In 2010, to increase brand awareness in its core Nevada market, the company changed its dba name to NV Energy, as did sister company Sierra Pacific Power.
Nevada Power has been serving Las Vegas since 1906. In 1937 the company became the first utility to distribute electricity from the newly completed Hoover Dam.