Regulators approved proposals from three Las Vegas casino companies to leave NV Energy's power grid and secure electricity elsewhere.
The Las Vegas Review-Journal reports MGM, Wynn Resorts and Las Vegas Sands will be allowed to exit the power grid after paying exit fees of a combined $122 million.
MGM's chunk of that fee is the largest, coming in at just under $87 million. Wynn will pay just under $24 million and Las Vegas Sands has the remainder.
The fees are in addition to other charges that have yet to be determined … the Public Utilities Commission says the payments are meant to cover potential rate increases for consumers as well as make up for the loss of revenue that will come from the companies' exits.
The companies are expected to leave the grid by February, but the Review-Journal reports each company expressed disappointment at the level of fees the Public Utilities Commission wants to levy against them.
