MGM Resorts International told Nevada regulators Thursday it’s cutting ties with Nevada Power to buy its own electricity.
The Las Vegas Review-Journal reports MGM plans to end its time as a Nevada Power customer by October.
The company will be assessed an $86.9 million exit fee.
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MGM executive vice president John McManus wrote in a letter to the commission that MGM will pay the Public Utilities Commission fee to make sure NV Energy’s remaining customers won’t suffer the financial fallout from the company’s departure.