LAS VEGAS ( KLAS ) — NV Energy is proposing a plan to charge customers in their monthly bills to establish a $500 million wildfire self-insurance fund, according to a Tuesday news release.
The cost to customers — more than 1.5 million in Nevada — would depend on where they live. Southern Nevada ratepayers would be charged about 50 cents each month, while customers of Sierra Pacific Power in Northern Nevada would pay about $2.40 each month. Northern Nevada customers face a higher risk of wildfire.
The charges are made by small increases in electricity rates, and they would go into effect on Oct. 1, 2025.
The Public Utilities Commission of Nevada (PUCN) would have to approve the plan before NV Energy can collect from customers. See the request as submitted to the PUCN:
DOCKETS-25-01018-ORIGINAL-FILING-1-2-2025-AGN-UEL-NPC Download
Customers don’t have a choice to opt in or opt out if the company’s self-insurance plan is approved. They will be billed each month. Like private insurance, a self-insurance program collects from a large number of people to pay claims made when a smaller number of people incur damage.