NV Energy

What NV Energy does

NV Energy is Nevada's largest electric utility, providing electricity generation, transmission, and distribution services to approximately 90% of the state's population through two wholly-owned operating subsidiaries, Nevada Power Company (southern Nevada) and Sierra Pacific Power Company (northern Nevada). The company operates as a vertically integrated, regulated monopoly under franchise authority from the Public Utilities Commission of Nevada, with rates, integrated resource planning, and service territory decisions subject to PUCN oversight. Its core product is regulated electricity supply to residential, commercial, industrial, and large-load (data center) customers, supplemented by renewable energy procurement (3,800 MW of renewable resources achieving 47.5% renewable compliance against the 34% mandate), the Greenlink West transmission corridor connecting northern Nevada, and a growing portfolio of long-dated geothermal and solar PPAs.

The company's go-to-market is structurally bifurcated: residential and small commercial customers receive electricity through standard regulated tariffs, while large-load data center customers are acquired through direct enterprise negotiations requiring long-term commitments and infrastructure cost contributions via Large-Load Electric Service Agreements. Revenue is derived from volumetric kilowatt-hour charges and approved rate schedules, with recent additions including a $118 million annual Southern Nevada rate increase (effective October 2025), a daily demand charge combining highest 15-minute usage with total kilowatt-hours (effective January 2027), and a proposed $500 million self-insurance fund for wildfire liability funded through ratepayer increases averaging $3/month in the north and 21 cents/month in the south.

NV Energy's strategic posture is defined by an unprecedented surge in data center electricity demand, with load requests totaling 22 gigawatts against 8,500 MW of current system peak, more than 40 times what Lake Tahoe uses at peak. The 2026 Integrated Resource Plan proposes 4,500 MW of new renewable capacity, 5,400 MW of battery storage, and 1,200 MW of natural gas generation to address this demand, alongside planned capital outlays exceeding $3 billion in northern Nevada through 2029. The company is terminating wholesale supply to Liberty Utilities for approximately 49,000 Lake Tahoe customers after May 2027 to redirect capacity to higher-value hyperscaler customers including Google, Microsoft, Amazon, Meta, Apple, and Switch. NV Energy is a wholly-owned subsidiary of Berkshire Hathaway Energy, which itself sits within Berkshire Hathaway's utility portfolio alongside PacifiCorp and MidAmerican Energy.

Name

NV Energy

Legal name

NV Energy

Website

https://nvenergy.com

Company type

Private

Founded year

1906

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

NV Energy is Nevada's largest electric utility, providing regulated electricity generation, transmission, and distribution to approximately 90% of the state, serving residential, commercial, industrial, and data center customers as a wholly-owned subsidiary of Berkshire Hathaway Energy.

Ownership category

akta.pro rank

Headquarters

HQ city

Las Vegas

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Others

Revenue model

1. Electricity Sales: NV Energy generates revenue through regulated electricity rates approved by the Public Utilities Commission of Nevada. Revenue comes from residential, commercial, industrial, and large-load (data center) customers based on kilowatt-hour consumption and demand charges.
2. Ratepayer-Funded Infrastructure: The utility proposes ratepayer-funded infrastructure to support data center interconnection, with Sierra Pacific Power Company customers potentially bearing costs for large-load infrastructure.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

NV Energy is a vertically integrated regulated electric utility that generates, transmits, and distributes electricity to approximately 90% of Nevada. Its core offering includes residential, commercial, industrial, and large-load (data center) electricity service, a renewable energy portfolio of approximately 3,800 MW, the Greenlink West transmission corridor, and Large-Load Electric Service Agreements requiring infrastructure cost contributions from data center customers. The company is overseen by the Public Utilities Commission of Nevada and earns revenue through PUC-approved rates, monthly subscription billing, and demand charges.

Product overview

NV Energy is Nevada's primary electric utility company providing electricity service to approximately 90% of the state. The company operates as a vertically integrated utility offering electricity generation, transmission, and distribution services. Its product portfolio includes renewable energy resources (solar, geothermal), battery storage projects, transmission infrastructure (Greenlink West), and demand charge programs. The company also offers Large-Load Electric Service Agreements for data center customers and geothermal power purchase agreements with developers like Zanskar and Ormat to supply renewable energy to tech companies including Google.

Differentiator

Problem solved

Functional benefit

Products and services

• Renewable Energy Portfolio A portfolio of approximately 3,800 MW of operating renewable resources (solar, geothermal, and battery storage) providing carbon-free electricity to NV Energy customers and meeting Nevada's Renewable Portfolio Standard. This portfolio underpins hyperscale data center customer sustainability commitments and is expanded through long-term power purchase agreements with developers.
• Greenlink West Transmission Line A major high-voltage transmission line project connecting northern Nevada, designed to deliver power to data center corridors and facilitate Liberty Utilities' transition to new energy sources. Cost has increased from $2.5 billion to $4.2 billion.
• Large-Load Electric Service Agreement A proposed service agreement structure for hyperscale customers (data centers) requiring infrastructure cost contributions and long-term commitments to prevent residential ratepayers from absorbing large-load infrastructure expenses.
• Wildfire Self-Insurance Fund A proposed $500 million self-insurance fund to cover wildfire liability claims linked to utility infrastructure, funded through monthly ratepayer surcharges.
• Daily Demand Charge A new daily demand charge for Southern Nevada customers effective January 1, 2027, combining a customer's highest 15-minute usage period with total kilowatt hours used, while reducing the per-kWh rate.
• Zanskar Geothermal Power Purchase Agreement A 20-year power purchase agreement with Zanskar for 100 MW of geothermal energy, with delivery scheduled for 2030, encompassing multiple geothermal projects leveraging AI and advanced technologies to reduce exploration risks.
• Ormat Geothermal Power Purchase Agreement A 150 MW geothermal power purchase agreement with Ormat Technologies to support Google's data center operations in Nevada, with projects expected online between 2028 and 2030 for a 15-year term.

Quantifiable outcome

• 47.5% renewable energy compliance rate against 34% state mandate
• +2 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Great Basin Gas Transmission Company (Southwest Gas subsidiary)minorStrategic or Co-development Partner · 19 May 2026Pipeline expansion proposal to quadruple natural gas capacity to approximately 1,000 dekatherms daily to power data centers in northern Nevada. Project calls for 212 miles of new or expanded pipeline to the Tahoe Regional Industrial Center in Storey County, anticipated to begin November 1, 2028. Governor Lombardo has submitted letter to FERC supporting the expansion.
• ZanskarcoreStrategic or Co-development Partner · 18 May 2026NV Energy signed a 20-year power purchase agreement with Zanskar to purchase 100 MW of geothermal energy with delivery scheduled for 2030 pending regulatory approval. The deal encompasses multiple geothermal projects that Zanskar plans to develop and operate in Nevada through 2050, leveraging AI and advanced technologies to reduce exploration risks.
• PrimergycoreStrategic or Co-development Partner · 12 May 2026Amazon and NV Energy partnership includes 600 MW of solar plus 600 MW of battery storage from Primergy to power future data center operations near Reno. Infrastructure costs covered by Amazon so expenses are not passed to local residents or businesses.
• Ormat TechnologiescoreStrategic or Co-development Partner · 17 February 2026Ormat signed a 150 MW geothermal power purchase agreement with NV Energy to support Google's data center operations in Nevada. Projects expected online between 2028 and 2030, contract term running for 15 years after commercial operation. Approved by Public Utilities Commission of Nevada in H2 2026.
• Greenlink West Transmission LinecoreStrategic or Co-development PartnerTransmission infrastructure project connecting northern Nevada to enable power delivery to data centers and facilitate Liberty Utilities' switch to new energy sources. Cost ballooned from $2.5 billion to $4.2 billion. Expected online by May 2027.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PacifiCorp: Sister utility under Berkshire Hathaway Energy serving Oregon, Washington, Idaho, Utah, Wyoming, and Nevada. Same regulated vertically-integrated model and same parent ownership make it the most directly comparable utility to NV Energy.
• MidAmerican Energy: Sister utility under Berkshire Hathaway Energy serving Iowa, Illinois, Nebraska, and South Dakota. Operates as a regulated vertically-integrated utility with significant renewable generation — directly comparable in ownership structure and operating model.
• Arizona Public Service (APS): Vertically-integrated investor-owned utility serving most of Arizona with similar western US exposure, comparable scale, and rising data center load from Phoenix-area hyperscale operators. Direct functional peer.
• Salt River Project (SRP): Arizona-based vertically-integrated utility serving the Phoenix metropolitan area with significant data center load growth exposure. Comparable regulated utility model, geographic proximity, and customer mix overlap.
• Idaho Power: Vertically-integrated investor-owned utility serving southern Idaho and eastern Oregon, comparable in scale and regulated cost-of-service model, with growing exposure to data center and tech manufacturing load in the Boise region.
• Public Service Company of New Mexico (PNM): Vertically-integrated electric utility serving New Mexico, comparable in scale, single-state regulated franchise model, and transition to higher renewable mix. Recently pending acquisition by AVANGRID.
• Rocky Mountain Power: Operating brand of PacifiCorp serving Utah, Wyoming, and Idaho. Directly comparable regulated utility model and overlapping western US data center load corridor with Nevada.

Broad incumbents

• Dominion Energy: Large multi-state investor-owned utility with substantial data center load in northern Virginia. Comparable in hyperscaler customer mix and large-load service agreements, though materially larger and multi-jurisdictional.
• Xcel Energy: Multi-state regulated electric and gas utility serving eight western and midwestern states. Comparable in scale, data center load growth strategy, and renewable portfolio expansion. Broader geographic footprint than NV Energy.

Regional players

• Liberty Utilities: North American regulated utility platform operating across the US and Canada. Directly relevant as NV Energy's wholesale customer at Lake Tahoe (49,000 customers) whose service agreement terminates after May 2027. Comparable in small/mid-cap regulated utility profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nvenergy
• Facebookfacebook.com/nvenergy
• LinkedInlinkedin.com/company/nv-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NV Energy