Cortez Masto backs legislation aimed to lower rising energy costs
LAS VEGAS, Nev. (FOX5) - People across the US are seeing drastic increases in their electricity bills. Americans are expected to pay 20% more than last summer with many states seeing even bigger rate increases. Nevada is no exception.
Some NV Energy customers are reporting their bills are hundreds of dollars higher. Senator Catherine Cortez Masto says something needs to be done to bring costs down for families and is pushing new legislation.
“I don’t drive anymore. I just stay home. I order everything online... We cut back quite a bit on food and I am considering going to use food banks,” shared Maryann McLendon. McLendon, like many others has been surprised by their most recent electric bill. For a single-family home, the bill is projected to be $633 for July.
“Nevadans are absolutely feeling the crunch of high costs right now. I hear it from them in my office. I feel it from them when I am here at home and I am living it,” expressed Senator Cortez Masto who is now backing the Energy Consumer Protection Act. The proposal would give the Federal Energy Regulatory Commission power to go after bad actors: energy traders who manipulate the electricity and natural gas markets.
Under the new law, federal authorities could temporarily or permanently ban companies from trading in energy markets if they are caught manipulating prices.
According to government projections, significant increases in wholesale electricity prices will persist this summer.
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