NV Energy is asking for approval to add liability coverage for their self-insurance policy.
NV Energy got approval for the first phase of their self-insurance policy last year. Now they're seeking approval for a second phase of coverage worth half a billion dollars.
At a Public Utilities Commission of Nevada workshop on Wednesday, NV Energy said it would help them recoup losses in the event of a catastrophic wildfire.
"The fundamental point is it provide additive capacity in the event of a single catastrophic wildfire," says Shawn Elicegui, Senior Vice President of Planning and Resources.
NV Energy says if the additional policy is approved, customers in Northern Nevada would see about a $3 monthly increase in their rates.
The proposal will go to the commission for a decision after this week.
