Valley Electric Plans Sale Of Transmission Lines
Valley Electric is planning to sell electricity transmission lines it owns throughout Southern Nevada.
The Pahrump Valley Times reports the co-op's board approved the sale this week of some 164 miles of power lines.
VEA will receive about $190 million for the sale.
Because VEA is a co-op, its members have to approve the sale before it can go forward.
The utility plans to hold a vote this month that would run through October for members to weigh in.
Two-thirds of members would need to approve the sale for it to take place.
Proceeds from the sale would go back to members, with each member-owner receiving more than $550 as a direct payment.
VEA also would rescind a rate increase that went into effect in July, and invest in infrastructure development.