#United States #Las Vegas #Nevada #Southwest Gas #SB 417

Southwest Gas Proudly Reacts to the Signing of SB 417

Southwest Gas Corporation, a prominent natural gas provider, recently expressed its approval following Nevada Governor Lombardo's signing of Senate Bill 417 (SB 417). This significant legislation aims to modernize the regulatory framework governing gas utility rates in the state, marking a proactive step towards enhancing consumer protections and improving service reliability.

With the signing of SB 417, Southwest Gas can now engage with the Public Utilities Commission of Nevada (PUCN) to propose alternative ratemaking plans. These plans may include formula rates, multi-year rate structures, and performance-based rates. This legislative change’s intent focuses on fostering price stability while simultaneously reducing operational costs linked with regulation.

Benefits of SB 417

This new approach is poised to bring several advantageous changes to both the utility and its customers. Notably, it aims to:

• - Make fluctuations in gas bills more manageable and predictable.
• - Cut down administrative costs, allowing for savings to be passed directly to customers.
• - Decrease the frequency of traditional rate cases, thereby lowering regulatory expenses.
• - Facilitate timely cost recovery for infrastructure investments, which in turn reduces borrowing costs and ensures savings for the customer base.
• - Allow any excess utility earnings to be shared with customers, enhancing overall consumer satisfaction.
• - Maintain stringent oversight by the PUCN, ensuring that all changes prioritize the public’s interests.

Karen Haller, CEO of Southwest Gas Holdings, emphasized the importance of this legislative advancement, declaring, "Alternative ratemaking represents a validated strategy that can streamline regulatory processes and deliver significant savings to our customers. Our modernization journey aims to prioritize the needs of Nevadans."

As Nevada constitutes approximately 35% of Southwest Gas’s authorized rate base, Haller noted that the improved recovery timelines would not only strengthen the company's capacity to invest in the state but also catalyze broader economic growth.

Regulatory Safeguards for Consumers

Importantly, the legislation encompasses robust safeguards to ensure that utility proposals align with the best interests of customers. Before any proposed plan is reviewed by the PUCN, utilities must demonstrate that their approach:

• - Results in fair and reasonable rates.
• - Serves the public interest.
• - Includes a thorough customer education component, ensuring transparency in operations.

According to Amy Timperley, Senior Vice President and Chief Regulatory Officer at Southwest Gas, the law strikes the right equilibrium by enhancing operational flexibility while reinforcing consumer protections and transparency.

Timperley remarked, " This initiative brings enhanced efficiency while ensuring that consumer protection remains paramount."

A Grateful Nod to Decision-Makers

Southwest Gas publicly acknowledged the initiatives of Governor Lombardo and the Nevada legislature for their advancements in Senate Bill 417. Haller affirmed, "Together, we're moving forward to ensure our services remain both reliable and affordable for all customers."

The modernization of Nevada's gas utility regulations through SB 417 heralds a promising future for consumers, reinforcing Southwest Gas as a stalwart of safe and reliable energy solutions in the region. This transformative approach aims to not only enhance operational efficiency but also champion a sustainable energy future for the communities it serves. For more insights on Southwest Gas's initiatives in promoting affordable and safe energy services across Nevada, Arizona, and California, visit www.swgas.com.

About Southwest Gas Holdings, Inc.

Operating through its core subsidiary, Southwest Gas Corporation, the company focuses on purchasing, distributing, and transporting natural gas. Committed to surpassing the expectations of more than two million customers, Southwest Gas pioneers sustainable energy solutions to nourish community growth. The company also has a significant stake in Centuri Holdings, offering utility infrastructure services across North America.

For comprehensive insights regarding Southwest Gas and its commitment to a sustainable energy future, checking out their website is highly recommended.