NV Energy presents plan to close coal-fired plant

NV Energy (NYSE: NVE) presented a plan to Nevada lawmakers Wednesday that concludes closing four coal-fired power units northeast of Las Vegas could cost ratepayers nearly 4 percent more over the next 20 years, according to a report from the Associated Press.

NV Energy officials said the closures, which have been requested by a neighboring tribe, U.S. Senate Majority Leader Harry Reid and others, are scheduled to begin by the end of next year, according to the report. Three of the four units of the 553 MW Reid Gardner coal-fired plant would close by the end of 2014, with the fourth unit remaining operational until 2017.

According to the Associated Press, company officials said the plan will allow for accelerated development of wind, solar, geothermal and natural gas facilities as well as produce thousands of construction jobs over the next dozen years.

The plan cites “environmental regulatory uncertainty and aging coal generation facilities” as reasons to create “innovative plans and solutions to address Nevada’s future energy needs,” according to the report.

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