If you’ve noticed your utility bills skyrocketing, you’re not alone. Gas and electric bills across the state have been rising at an unprecedented rate over the past several years. And while some of this has been due to natural gas prices and hotter weather, most of it is because big monopoly utilities like NV Energy and Southwest Gas are being allowed to game the system. Here in Nevada, the Public Utility Commission is supposed to provide a check on utility rates, and to balance customer and utility interests. Instead, the PUC is letting these monopolies run wild with one record-breaking rate hike after another. In April, the PUC approved a record $59 million rate increase for Southwest Gas, which is $20 million higher than its previous record hike in 2020. This is despite Southwest Gas reporting a first-quarter net income ($98.5 million) that is more than double that of its first quarter in 2023 ($45.9 million), and a record 12-month operating margin of $1.3 billion. The hike also comes as SWG customers were already reeling from other recent SWG hikes. Even before this latest hike, customers reported their gas bills shooting up more than 300% in a single month. Utilities in Nevada are allowed to make rate adjustments every three months, and those are in addition to the hikes from general rate cases. While average Nevadans are getting hammered by higher and higher gas bills, Southwest Gas officers and shareholders — most of who reside outside of Nevada — are getting richer and richer. And it’s more than just Southwest Gas that keeps bellying up to the PUC...
