The company will pay an exit fee to leave Nevada Power.
US.- Caesars Entertainment Corp announced that it reached an agreement to purchase its own power supplies and leave Nevada Power. The payment will be made over six years in 72 payments, and it is estimated that it will cost the company US$44 million.
The company filed a requirement on Thursday with the Public Utilities Commission where they established that they agreed to pay US$3.5 million to Sierra Pacific, a NV Energy’s Northern Nevada company. The company also agreed to make 72 equal payments that will be completed over six years if the agreement is approved by the commission. Furthermore, Caesars would be part of a list of three big companies in Nevada that decided to leave Nevada Power.
If it gets approved, the company could leave Nevada Power on September 1. The company currently operates several hotel-casinos in Nevada, such as Caesars Palace, Flamingo Las Vegas, Harrah’s Lake Tahoe, Planet Hollywood, The Cromwell, Harrah’s Reno and The Linq Hotel, among others.