NV Energy Inc., posted a $1.7 million net loss in the first quarter, an improvement compared to the $22.2 million it lost in the first quarter of 2009, the company announced Monday.
The losses from last quarter amount to about 1 cent per share.
The power company, which serves customers in southern and northern Nevada, said the improvement from the first quarter this year compared to 2009 was a result of rate increases in Southern Nevada that took effect last July.
"Much of the first quarter-to-quarter improvement is attributable to our investments in new generating facilities in southern Nevada that are now included in rates," said Michael Yackira, president and chief executive officer of NV Energy.
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