MGM Resorts Seeks $16M In Credits In Updated Exit Agreement From NV Energy
After agreeing to pay almost $87 million to disconnect from NV Energy’s grid, MGM Resorts International is asking for a $16 million credit.
The Nevada Independent reports state officials met with MGM representatives Wednesday to talk about the credit.
The proposal suggests the funds would go toward any fees or other costs the casino company might owe the state for electricity in the future.
While its properties no longer buy their electricity from NV Energy, MGM’s exit agreement stipulated millions in annual fees to prevent passing NV Energy’s losses from the split on to other customers.