Nevada Gov. Bob Miller (D) on July 17 signed into law an electric restructuring bill to bring competition to the state starting July 9, 1999.
AB 366 will split the state's utility commission into a three-member Nevada Public Utilities Commission and a three-member Transportation Service Authority. The commission would employ a rulemaking proceeding to unbundle rates, design consumer safeguards and set parameters for stranded costs.
The bill mandates a portfolio standard for renewable energy: 0.2 percent of the power produced must come from renewable sources, while solar must account for one-half of that amount. The minimum share for renewables would increase by a nominal 0.1 percent during 2001 through 2010, reaching a final level of 1.2 percent.
The bill had enjoyed almost universal support among the major players in the state. Nevada Power, however, appeared disappointed that the law would not authorize the company to securitize costs for uneconomic purchased power contracts.