Sponsorships, publicly regulated companies

[LadyStanley]

Watchdog alleges NV Energy seeking to stick ratepayers with cost of tickets, sports promotions • Nevada Current

It’s called the Power Play, a few aptly-named minutes of unbridled hockey, sponsored by NV Energy as part of a year-long marketing partnership with the Henderson Silver Knights. The package – one of several the utility has with Southern Nevada sports teams – includes free tickets and Zamboni...

www.nevadacurrent.com

Interesting little issue with NV Energy seeking to get rate payers (not shareholders) to pay $62.5k sponsorship to AHL team (but they aren't for NFL, NHL nor MiLB sponsorships), part of $200k they are seeking to be covered.

The BCP wants the PUC to reject NV Energy’s effort to recover from consumers about $200,000 of $1.3 million the company spent on sponsorships in 2022.

Those expenses are reported to federal energy regulators under “civic, political, and related activities,” made “for the purpose of influencing the decisions of public officials.”

By contrast, NV Energy spent $485,993 on charitable donations in 2022. That’s less than two-tenths of 1% of the utility’s net income of just under $297.9 million. Those costs are borne by shareholders.

Should be interesting to follow.

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