Three Las Vegas casinos are battling Warren Buffett’s NV Energy.
The three want to save millions of dollars in electric costs by purchasing their power directly from power plant owners and solar generators, according to a report in the Wall Street Journal.
NV Energy declined to comment, according to the Journal.
This is a battle that merits close attention.
“The same struggle is occurring across the country as large power users watch wholesale energy prices fall while their utility bills rise,” the Journal reported. “New York, Texas and 11 other states allow residents and businesses to buy their electricity from competitive suppliers, but Nevada is among the majority of states that require most customers to buy power from monopoly utilities.”
Wynn Resorts estimated it could save $7 million – or 40 percent of its power bill – by going directly to energy suppliers, bypassing NV Energy, which recently was acquired by Berkshire Hathaway.