Latest news with #NVEnergy
Yahoo
02-07-2025
- Climate
- Yahoo
Over 33K customers without power, nearly 50 power poles damaged as Las Vegas valley sees high winds
LAS VEGAS (KLAS) — Over 33,000 NV Energy customers were without power, nearly 50 power poles were damaged, flights leaving Las Vegas were delayed, and a dust storm warning was issued after wind gusts reaching 70 mph were reported in the Las Vegas valley Tuesday. Wild Las Vegas storm leaves trail of damage across valley, evacuation center open At 3:30 p.m., the National Weather Service Las Vegas reported that gusts of 65 to 70 mph in the far southern parts of the valley. A severe thunderstorm warning for the Las Vegas valley was extended to 3:45 p.m. Tuesday. A dust storm warning was put into effect around 4 p.m. until 5 p.m. Residents were told to be prepared for zero visibility. For those driving when visibility drops, pull far off the road and put your vehicle in park. Turn the lights off and keep your foot off the brake. Infants, the elderly, and those with respiratory issues are urged to take precautions. Clark County's Division of Air Quality issued a dust alert for Tuesday after the dust storm warning. Under windy conditions, people with heart or lung disease, older adults, and children may feel better staying indoors as much as possible because they could be at greater risk from particulates, especially when they are physically active, according to the U.S. Environmental Protection Agency. Video from an 8 News Now viewer inside a plane on the tarmac at Harry Reid International Airport showed dust surrounding the plane as winds picked up. Over 33,000 NV Energy customers were without power early Tuesday evening due the sudden and severe windstorm, according the NV Energy. Those affected by the power outages can click here for outage resources. As of 7 p.m., there were about 272 outages, 20,485 customers without power and nearly 50 power poles were damaged by the wind and will need to be replaced. As they are able, crews will isolate the outages to the smallest number of customers possible while they make repairs, according to NV Energy. As of 11 p.m., there were around 10,000 customers without power, according to NV Energy's website. The outages were caused primarily by severe winds, according to NV Energy. 'While our teams will work to restore power as quickly and safely as possible, the damage is significant and will take time to restore. Our teams will continue to work throughout the evening and in the coming days to make necessary repairs,' an NV Energy representative said. Customers are encouraged to sign up for outage alerts in MyAccount for additional updates. Power lines were seen down near Eastern and Sahara avenues Tuesday around 3 p.m., where all eastbound lanes were closed due to poles either in the street or leaning toward the street. Shortly before 7 p.m. Las Vegas Metro police reported that officers were also on scene near Tropicana Avenue and Pecos Road after multiple downed power poles and lines were found in the road. Drivers were asked to avoid the area and find alternate routes. RTC Southern Nevada also reported power lines down on Flamingo Road at Burnham Avenue. Flights going out of the Las Vegas valley saw delays between an hour and one minute and an hour and 15 minutes due to the wind, according to the Federal Aviation Administration. 8 News Now viewers reported damage from the wind, including fallen light poles, downed power poles and overturned tents. If you have any photos of the wind or downed power lines from Tuesday, you can send them to pix@ This is an ongoing story. Stay with 8 News Now for updates. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
02-07-2025
- Climate
- Yahoo
Over 33K customers without power, flights delayed; dust storm warning issued as Las Vegas valley sees high winds
LAS VEGAS (KLAS) — Over 33,000 NV Energy customers were without power, flights leaving Las Vegas were delayed, and a dust storm warning was issued after wind gusts reaching 70 mph were reported in the Las Vegas valley. At 3:30 p.m., the National Weather Service Las Vegas reported that gusts of 65 to 70 mph in the far southern parts of the valley. A severe thunderstorm warning for the Las Vegas valley was extended to 3:45 p.m. Tuesday. A dust storm warning was put into effect around 4 p.m. until 5 p.m. Residents were told to be prepared for zero visibility. For those driving when visibility drops, pull far off the road and put your vehicle in park. Turn the lights off and keep your foot off the brake. Infants, the elderly, and those with respiratory issues are urged to take precautions. Clark County's Division of Air Quality issued a dust alert for Tuesday after the dust storm warning. Under windy conditions, people with heart or lung disease, older adults, and children may feel better staying indoors as much as possible because they could be at greater risk from particulates, especially when they are physically active, according to the U.S. Environmental Protection Agency. Video from an 8 News Now viewer inside a plane on the tarmac at Harry Reid International Airport showed dust surrounding the plane as winds picked up. Over 33,000 NV Energy customers were without power Tuesday afternoon due to high winds, according the NV Energy. Those affected by the power outages can click here for outage resources. NV Energy released a statement saying, 'We have a number of crews working throughout the valley on multiple outages. Our crews are working to restore power as quickly and safely as possible. The outage map will have up-to-date information as we learn more.' Around six power lines were seen down near Eastern and Sahara avenues Tuesday around 3 p.m., where all eastbound lanes were closed due to poles either in the street or leaning toward the street. Poles were also seen down near Tropicana Avenue and Pecos Road. The reason why the poles went down is unclear at this time. Flights going out of the Las Vegas valley saw delays between an hour and one minute and an hour and 15 minutes due to the wind, according to the Federal Aviation Administration. 8 News Now viewers reported damage from the wind, including fallen light poles and overturned tents. If you have any photos of the wind or downed power lines from Tuesday, you can send them to pix@ This is an ongoing story. Stay with 8 News Now for updates. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
18-06-2025
- Business
- Yahoo
Ormat Announces the Completion of Its Acquisition of the Blue Mountain Geothermal Power Plant From Cyrq Energy
ACQUISITION INCREASES ORMAT'S ELECTRICTY SEGMENT GENERATING PORTFOLIO TO 1,268MW POTENTIAL TO UNLOCK ADDITIONAL VALUE THROUGH EXPECTED PPA RENEWAL AND ASSET UPGRADES RENO, Nev., June 18, 2025 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), (the 'Company' or 'Ormat'), a leading geothermal and renewable energy company, announced today that it has closed its previously disclosed acquisition of the Blue Mountain geothermal power plant from Cyrq Energy. Under the agreement, Ormat paid $88 million for 100% of the equity interest in the 20MW power plant. The Blue Mountain geothermal power plant is located in Nevada and was originally built with Ormat technology. The 20mw geothermal plant currently delivers power under a PPA with NV Energy ('NVE'), which is set to expire at the end of 2029. As part of the Company's generation capacity growth strategy, Ormat plans to upgrade the power plant and increase its capacity by approximately 3.5MW. Ormat's strategic expansion plans also include the proposed addition of a 13MW solar facility to support the power plant's auxiliaries, pending permit and PPA approval. The overall transaction was funded through bank debt. Doron Blachar, Chief Executive Officer of Ormat Technologies, said, 'The acquisition of the Blue Mountain geothermal power plant enhances our portfolio and reinforces our commitment to sustainable base-load energy solutions. This acquisition not only immediately increases our generating capacity but also provides the potential for a significant upside in revenue generation through our planned upgrades and the potential addition of a solar facility. We are excited about the opportunities this acquisition brings, and we look forward to continuing our partnership with NV Energy as we deliver reliable and clean energy to the people of Nevada.' ABOUT ORMAT TECHNOLOGIES With six decades of experience, Ormat Technologies, Inc. is a leading geothermal company, and the only vertically integrated company engaged in geothermal and recovered energy generation ('REG'), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,400MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company's activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat's current total generating portfolio is 1,558MW with a 1,268MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 290MW energy storage portfolio that is located in the U.S. ORMAT'S SAFE HARBOR STATEMENT Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such matters as our projections of annual revenues, expenses and debt service coverage with respect to our debt securities, future capital expenditures, business strategy, competitive strengths, goals, development or operation of generation assets, market and industry developments and the growth of our business and operations, are forward-looking statements. When used in this press release, the words 'may', 'will', 'could', 'should', 'expects', 'plans', 'anticipates', 'believes', 'estimates', 'predicts', 'projects', 'potential', or 'contemplate' or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. These forward-looking statements generally relate to Ormat's plans, objectives and expectations for future operations and are based upon its management's current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under "Risk Factors" as described in Ormat's annual report on Form 10-K filed with the Securities and Exchange Commission ('SEC') on February 27, 2025, and in Ormat's subsequent quarterly reports on Form 10-Q that are filed from time to time with the SEC. These forward-looking statements are made only as of the date hereof, and, except as legally required, we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Ormat Technologies Contact:Smadar LaviVP Head of IR and ESG Planning & Reporting 775-356-9029 (ext. 65726)slavi@ Investor Relations Agency Contact:Joseph Caminiti or Josh CarrollAlpha IR Group312-445-2870ORA@
Yahoo
12-06-2025
- Business
- Yahoo
NV Energy asking to raise rates by more than twice as much as needed, say experts
(Photo: Ronda Churchill/Nevada Current) The Attorney General's Bureau of Consumer Protection says NV Energy requires less than half of the $224 million rate hike it's asking the Public Utilities Commission to approve for Southern Nevada customers, and criticized the utility for attempting to charge ratepayers for lavish spending on lodging and limos for company gatherings. The 9% proposed rate hike is expected to cost the average customer an additional $15 to $20 a month. An expert witness testifying on behalf of the BCP, Mark Garrett, says NV Energy, based on a formula used to determine its revenue requirement, needs a rate hike of $106 million to provide service to its customers in the south. The utility is asking the PUC to include in the rate hike the cost of constructing Greenlink, a massive transmission line project, while it is still under construction and not benefitting ratepayers. Greenlink's cost has ballooned from just under $2.5 billion to more than $4.2 billion, and could increase even more, depending on the outcome of President Donald Trump's trade wars with Mexico and Canada. The increase related to Greenlink alone would hike rates by $60.6 million, or about $3.60 a month, for a little more than two years. The company argues that including the cost of construction while in progress, which is usually not permitted because it requires customers to pay for a service not yet provided, will generate cash flow, and help maintain credit ratings. In 2021, NV Energy's then-CEO Doug Cannon told state lawmakers that 'Nevadans will not be asked to pay for this investment until at least five to six years down the road.' Cannon left the company last month, following the revelation that the utility overcharged some 80,000 customers, some going back as far as 20 years. 'The company is faced with meeting the demands of growth, addressing system reliability, resource adequacy, legislative goals and mandates, and operational needs as it relates to sufficient levels of staffing, technology, and insurance – all of which necessitates investments above those currently reflected in the existing revenue requirement,' NV Energy vice president and chief financial officer Mike Behrens said in testimony submitted to the PUC, justifying the utility's rate requests. Behrens testified that including the costs of constructing Greenlink, while work is in progress, would help avoid a bond rating downgrade and higher interest rates on future debt. Garrett, on behalf of the BCP, recommended the cost of constructing Greenlink not be included in the upcoming rate case. 'The company has not demonstrated a financial need,' Garrett countered, and said the claim that charging customers now for constructing the project would save money 'is inaccurate.' While including the cost of construction in progress in the base rate would save the company $35 million in interest, it would cost customers $52.7 million in higher rates, and 'makes no economic sense for ratepayers,' Garrett testified. NV Energy is also seeking to recoup $16.4 million in affiliate expenses incurred by the company or its affiliates, such as Berkshire Hathaway Energy, its holding company. Among the expenses is an invoice for just under $1.3 million for Red Rock Resort, including $14,940 for incidentals, $152,156 for 'guest room attrition,' $575,068 for banquet food and beverages, $17,140 for internet, $78,482 for audio/visual services, and $3,248 for luggage porters. Nichole Loar of the BCP recommended the PUC disallow all $16.4 million in affiliate expenses – including: Chauffeured transportation services; Washington, D.C. office building and related labor; 'Excessive lodging charges' at the Four Seasons Hotel in Washington, D.C. and the J.W. Marriott in Phoenix; Lobbying expenses; Outside counsel; Corporate airfare; Alcoholic beverages; Entertainment; and Charitable donations 'The utility needs to be reminded they operate with a Certificate of Public Convenience and Necessity (given by the PUC), which is a privilege to serve as a monopolistic entity, not a right,' Loar testified. 'The recent proposed increases are placing vulnerable demographics at a heightened risk for heat-related illnesses, such as heatstroke,' Las Vegan Angel DeFazio of the National Toxic Encephalopathy Foundation said in a news release following a consumer input session last week on the proposed increase. She noted that seniors and others on fixed incomes are challenged to cover essential expenses, such as food and medicine, and pay for energy, especially during the summer months when bills skyrocket. The PUC is expected to hold hearings on the proposed rate hike in September. If approved, rates would increase on Oct. 1.
Yahoo
05-06-2025
- Business
- Yahoo
NV Energy's proposed rate hike panned by some, praised by others at consumer sessions
Vinny Spotleson of the Sierra Club speaks at a rally Wednesday protesting NV Energy's proposed rate hike. NV Energy's bid to raise electric rates drew condemnation from customers and support from non-profits that benefit from the largesse of the utility's charitable foundation at two consumer sessions held Wednesday by the Public Utilities Commission of Nevada. The utility, which provides electricity to most of Nevada, is asking state regulators to approve a revenue increase of $215.7 million that could hike rates by 9% in Southern Nevada. It's also asking to increase shareholder return on equity from 9.5% to 10.25%; level the playing field between rooftop solar and conventional ratepayers; and save low-income Southern Nevadans about $20 a month by eliminating their basic service charge. 'NV Energy is acting like it's so benevolent,' Las Vegan Angel DeFazio told the Current of the proposed elimination of the service charge for customers earning less than 150% of the federal poverty level. 'They're not the good guys. They're passing it on to us. They're just redistributing the cost.' But representatives of charitable groups and veterans organizations that receive grants from NV Energy voiced support for the rate hike, as did the Asian Chamber of Commerce and Latin Chamber of Commerce. 'My business community relies on energy, relies on being able to open their doors and conduct business. That takes an investment. That takes reliability. That is NV Energy,' said Peter Guzman, president of the Latin Chamber of Commerce. Guzman said he was not asked by NV Energy to speak on its behalf. The utility's spokesperson did not respond when asked if NV Energy solicited support from the organizations. Longtime gaming executive and former acting UNLV president Don Snyder, who is currently chairman of the United Way Board of Directors, defended the utility's bid to raise rates. Snyder said the non-profit touches one in four Nevadans through a variety of services. 'We are uniquely positioned to understand the needs of our community, particularly our low income individuals and families,' Snyder told PUC Commissioner Tammy Cordova, who is presiding over NV Energy's rate hike request. Snyder added United Way has a 'longstanding partnership' with NV Energy, its employees, and its foundation, which 'provides financial grants supporting utility assistance for our low income senior citizens.' Others contend now is no time to raise the cost of electricity. Dr. Mary House, co-founder of Caring, Helping & Restoring Lives (CHR), urged the commission to hold NV Energy accountable for energy policies that she says disproportionately affect low-income individuals and families. 'They're sacrificing necessary medicines just to pay their bills. They're limiting how much they spend on groceries just to pay their bills,' House said, adding many of the families her organization serves pay a disproportionate share of their income toward electricity. House added that she has taken steps to reduce reliance on fossil fuels and increase energy efficiency. 'But many households, the ones who I represent, don't have the means to even make those changes.' NV Energy overcharges at least 80,000 customers, scrimps on refunds House also encouraged the utility to fully refund overpayments of at least $17 million the utility assessed against some 70,000 customers in multi-family units over a 20-year span. Angela Hollimen moved to Las Vegas in 2018. The retiree said although she lives with family, making ends meet remains a struggle. 'Since I moved here, I've noticed that everything's been going up,' she said, adding her family has taken all the recommended steps to reduce energy costs. 'Were doing what we're supposed to do, and questioning whether we should have moved here.' Tracy Puckett, another retiree, said she 'saved and saved' to install a $30,000 rooftop solar array on her home. NV Energy's efforts to tweak its net metering formula will cost her and other solar customers more, extend the time it takes to recoup their investment, and deter more ratepayers from going solar. 'I want my investment to mean something.' The utility's request to impose peak usage rates on customers drew protests from ratepayers who say the scheme penalizes working people who are not home to run appliances during hours when the system faces less demand. A customer using 5 kWh would pay $27 more per month, while a customer using 6 kWh would pay $38 more per month, according to data provided by Advanced Energy United, a trade group that represents renewable energy providers. Total usage during the monthly billing period would be irrelevant. NV Energy peak usage plan could be costly for Southern Nevadans Should the PUC turn down the proposal for a peak demand rate, NV Energy wants to increase the basic service charge in Southern Nevada from $18.50 to $24, far less than the projected increase of maximum demand charges. The proposed changes 'reflect the company and its shareholders' best interests and not its customers',' Julia Hubbard of Solar United Neighbors (SUN), an organization dedicated to educating ratepayers, said at the consumer session. 'When someone goes solar, they are not just saving on future utility bills. They are adding infrastructure to the grid on their dime.' 'This proposal doesn't account for their recent mismanagement of customer classifications, resulting in millions of dollars in overcharges, or lack of real progress on their transportation electrification plan and their community solar program,' Hubbard said, adding the utility, charged with constructing 120 electric vehicle charging stations, has completed 40. Hubbard said NV Energy's plan to change the way it calculates net metering by calculating excess energy returned to the grid every 15 minutes rather than monthly, would reduce the value of rooftop solar and disincentivize investment in 'a powerful tool that Nevada residents can use to lighten their energy burden while contributing to statewide goals.' The change is expected to increase monthly bills for rooftop solar customers by about $11 a month, and would affect customers who apply for net metering after Oct. 1 of this year. The move would delay return on investment for homeowners who install rooftop solar in the future, Hubbard said. 'People are struggling to pay their energy bills,' she said. 'This is not the time to raise rates.' The PUC will hold hearings on NV Energy's rate hike request in September. If approved, the changes would go into effect in April 2026.
