The City of North Las Vegas has become the latest municipality in Nevada to sign an exclusive contract with NV Energy.
The Nevada Independent reports that under terms of the agreement, which was approved on February 19, the utility would pay the city $250,000 annually over five years in return for promising not to leave as a customer.
The contract is similar to arrangements with Clark County, the cities of Henderson and Reno, and the Nevada System of Higher Education, all of which have reached agreements with NV Energy for annual cash payments to remain customers and to promise to apply for a future fixed-rate, renewable energy-based pricing program.
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The payments now total about $4.7 million annually.