Southwest Gas adjusts rates to reflect changes in the Gas Cost rate for Nevada customers on a quarterly basis. The rate is composed of the Base Tariff Energy Rate (BTER) and the Deferred Energy Account Adjustment (DEAA). This rate is updated to account for changes in the cost of natural gas the Company purchased on behalf of customers, with no profit to the Company, and uses a rolling 12-month average of natural gas costs. Which means you pay what we pay for the cost of natural gas. No more, no less.
The Company makes these quarterly advice letter filings in February, May, August, and November. Copies of Nevada Advice Letters can be found
here
.
Southwest Gas’ most recent Nevada Quarterly Gas Cost Rate Adjustment filing was made on August 18, 2023 to account for the natural gas costs purchased by the Company between July 2022 and June 2023. The updated Gas Cost rate will be effective October 1, 2023.
Although gas costs are higher this year compared to the prior year, the rolling 12-month average has decreased from last quarter to this quarter.