Nevada Utility Seeks Ratepayer Funds For Wildfire Insurance [1]
“The proposal from NV Energy comes as the West grapples with the twin challenges of rising wildfire risk and growing electricity costs.”
“As the West enters a high-risk wildfire season, Nevada’s largest utility is asking state regulators to OK a $500 million insurance policy funded by its ratepayers.
The request reflects the tension utilities face in the drought-ridden West. As wildfires become more frequent and destructive, utilities are looking for more coverage to repay customers and protect themselves financially. Those policies in turn are getting more expensive and harder to procure.
But NV Energy’s alternative proposal — a self-insurance fund backed by a rate increase — is a tough pill to swallow in the era of rising bills and political outrage over the affordability of utility bills.”