Customers of the Valley Electric cooperative will soon pay lower rates for their electricity – even after the company increased rates earlier this year.
The Pahrump Valley Times reports June's rate increase of 9.9 percent will be eliminated come the new year.
The decision was approved by VEA's board of directors.
Part of the reasoning for the reduced rates comes from a windfall in cash the cooperative is expecting once a sale closes next year.
VEA reached a deal to sell a transmission line to the main electrical grid for just over $200 million to a private company.
The line in question helps send electricity to VEA customers as part of a redundancy system in case other lines or transmission areas fail.
The sale was approved by the co-op's members earlier this year.
