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NVEnergy, Nevada's primary power producer, is behind this and a couple of other recent controversial decisions. The company is ultimately controlled by Warren
by downandout 11y ago
NVEnergy, Nevada's primary power producer, is behind this and a couple of other recent controversial decisions. The company is ultimately controlled by Warren Buffett and has proven to have far too much political influence. Own some casinos and want to leave NVEnergy because of absurdly high power rates? Sure, just pay an "exit fee" of $126.6 million for the privilege of having the right to buy power from other companies [1]. Own a data center? Good, you'll only pay $27 million to leave [2]. Now we have this decision, which destroyed the economics of solar for both future and existing solar users in the state - unsurprisingly, for the benefit of NVEnergy.
It's pretty rare that political corruption is this transparent. Normally at least some attempt is made to cloak it. In Nevada, this is apparently not necessary.
[1] http://www.reviewjournal.com/business/casinos-gaming/3-strip-gaming-companies-get-ok-leave-nevada-power http://www.reviewjournal.com/business/casinos-gaming/3-strip...
[2] http://www.reviewjournal.com/business/energy/casino-companies-would-pay-131m-leave-nevada-power http://www.reviewjournal.com/business/energy/casino-companie...