NV Energy Inc., the parent company of Nevada's two main electric utilities, is applying for $138 million in federal stimulus money to help build a "smart grid" infrastructure.
Michael Yackira, NV Energy president and chief executive officer, said the company's Advanced Service Delivery Project would involve upgrading Nevada's energy system and electric and natural gas meters.
"What we see is the opportunity to use the dollars to change out over 1 million meters that we have, plus all the infrastructures," Yackira said.
The benefit, he said, is that customers could see how much their energy use is costing at different times of the day, hopefully prompting them to use less energy during peak hours.
"It would allow them to see the real-time prices as the price of power changes during a period in the day," Yackira said Wednesday, explaining that when demand grows, like on a hot summer afternoon, so does the cost of generating.
There is no direct discount for using power during off-peak hours, but there is an incentive to do so because it will reduce NV Energy's costs, and therefore, help keep customers' rates down.
"It would save consumers money and actually everybody money," Yackira said.
If the grant is approved, Yackira said the statewide project will be implemented over the next two years and eventually link 1.45 million electric and gas meters across the company's 54,600-square-mile service territory.
"I really think it's the game changer in our industry," Yackira said, "giving consumers choices and lowering operating costs."
The U.S. Department of Energy has earmarked $3.4 billion in stimulus money for smart grid integration. Utilities can seek up to $200 million per application.
NV Energy is the holding firm of Nevada Power Co. in southern Nevada and Sierra Pacific Power Co. in the north. Statewide, the utility serves 2.4 million customers.