Nevada’s electric monopoly, NV Energy, has asked the state Public Utilities Commission to approve a controversial proposal to build a new 706-megawatt natural gas power plant that could cost up to $1 billion.
Compared to the alternative of purchasing natural gas power from existing power plants, the marginal cost to ratepayers of NV Energy’s plan for a new power plant would be $115 million in 2020 alone.
Building the new power plant would reduce employment by 1,614 jobs, and lower investment in Nevada by $18 million. Electricity rates would increase by 3.2 percent, costing the average consumer each year an additional $31 and the average industrial rate payer $9,970. From 2020-2025, the increased cost to ratepayers will total $604 million.
In the coming years, Nevada residents will come face-to-face with the state’s energy policy as Senate Bill 123 is implemented. The law was passed by the 2013 Legislature and requires NV Energy to shut down its remaining coal-fired power plants by the year 2020.
In this analysis, the Beacon Hill Institute at Suffolk University looks into the economic implications of implementing the renewable energy bill. Using its State Tax Analysis Modeling Program — a five-year model programmed to simulate changes in the economy such as taxes and costs — researchers at Beacon Hill were able to estimate the shift in employment, disposable income, energy costs and more that will occur as SB123 is implemented.
This analysis examines 10 of Nevada’s largest government agencies and compares the full-year equivalent 2013 retirement payouts of 2011-2013 retirees who had 30 years of service or more with their final-year base pay.
To preserve gems like Lake Tahoe, many came to believe, individual rights must be overridden and local governments stripped of powers. And so the bi-state Tahoe Compact and TRPA came to be. But, this is far from the only option; numerous, viable alternatives exist.
Over 3,600 private-sector jobs will be lost if voters approve Question 3, commonly called the margin tax, in November, a new study released today by the Nevada Policy Research Institute finds.
Reallocating existing education dollars could produce dramatically better Silver State school performance with no net increase in spending
There are dozens of ways to increase student achievement in Nevada without enacting job-killing tax increases or even spending one dollar more, finds a new study from the Nevada Policy Research Institute.
After years during which baseline revenue failed to grow, state revenues were beginning to turn around ahead of the 2013 Nevada Legislative Session. Even with more than $700 million in temporary tax hikes set to expire, Nevada was projected to receive more tax revenue by FY 2015 than it received in FY 2012.
Before Nevada joined the Union in 1864, the U.S. Congress explicitly promised more than two dozen times that the new state would be on an equal footing with the original states.
That promise, however, was not kept.
Today, as this report’s cover illustrates, only 13 percent of Nevada’s surface is available to provide the state with a tax base for the funding of services. In some counties — examples are Mineral, Nye and White Pine — the tax base is virtually nonexistent, at 4 percent or less.
Behind this problem is congressional bad faith — the breaking of a commitment to new states, a commitment even older than the U.S. Constitution: that the federal government would facilitate the settling of new states by selling or giving away unappropriated land and not keeping it. Indeed, it was on the basis of this commitment that the original 13 states agreed to the Constitution.