MGM Resorts and Wynn Resorts are leaving the NV Energy power grid this fall.
The Las Vegas Review-Journal reports the two companies have informed the state they each will be going it alone starting on October 1 and will no longer be retail customers of Nevada Power, which is part of the energy conglomerate.
The cost for both to do so is high – MGM has to fork over almost $87 million as an exit fee to account for the revenue NV Energy will lose when the company leaves.
Wynn has to pay nearly $16 million.
The two companies, along with Las Vegas Sands, had argued for leaving the NV Energy ecosystem to generate their own electricity, but Sands did not file paperwork to do so earlier this year.
By leaving the NV Energy grid, both MGM and Wynn will be able to buy electricity on the open market.
