Both Wynn Las Vegas and the Las Vegas Sands Corp. have filed to leave NV Energy for wholesale electricity. Sands said they have requested proposals from three potential energy providers on April 29. Wynn also said they have not selected a provider at this time.
MGM Resorts International and Caesars are expected to follow suit next by seeking wholesale energy. Data storage company Switch was the first large scale company to ditch Nevada Power, who was doing business as part of NV Energy. A decision on Switch’s attempt to leave should be answered in the following weeks.
There is an issue regarding the exit fee for the company, which will be between $18 million and $27 million. The companies are looking towards a 2001 law approved by the Legislature which allows for companies to get out of the retail market.
