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- ⚡ NV Energy Customers to Fund Employee Bonuses, Despite Utility Missing Targets
⚡ NV Energy Customers to Fund Employee Bonuses, Despite Utility Missing Targets
Issue #069 - February 14, 2024
John Wu
14 Feb
Dear SummerSouth Insiders!
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📆 Weekly Local Events for February 2024
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: 7 - 10pm (Every week on Monday)
Tuesday
Run Drink Las Vegas - Weekly Tuesday Run @ Frankie’s Uptown patio: 6:30 - 8:30 PM (Every week on Tuesday)
Foodies Mid-Week “Mix & Mingle” Swing Dance @ Noypitz Bar & Grill (Town Square): 6:30 - 10:30 PM (Every week on Tuesday)
Wednesday
Business Leads Group - Networking Breakfast, Patti's Practical Advice for Effective Biz Ops! @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting: 12 - 1:30 PM (Every week on Wednesday)
Thursday
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors @ Rampart Casino: 11 AM - 1 PM (Every week on Thursday)
Female Friends over Forty-five - Lunch and Rummikub @ Jason’s Deli (Boca Park): 12:30 - 3:30 PM (Every week on Thursday)
Southwest Tennis Brigade - A Chill Tennis Evening at Long Mountain Regional Park: 5:30 - 8:30 PM (Every week on Thursday)
Summerlin Bitcoin Happy Hour: 7 - 9 PM (Every week on Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / Noé Hilyard: 6 - 7:15 PM (Every week on Friday)
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 PM - 1 AM (Every week on Friday)
Saturday
Saturday Morning Co-Ed Soccer in the Park @ Spotted Leaf Park: 8:30 - 10:30 AM (Every Saturday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday in January and February)
Winter Kickball League (Private Group): 11 AM - 2 PM (Every Saturday)
Vegas Hikers - Ike’s Peak 4.3 Mile (southwest) 2 groups: 12:30 - 3:30 PM (Every week on Saturday until March 29, 2024)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday in January and February)
Find Your Yoga Las Vegas - Northwest LV Sunday Soulful Yoga with Alicia Cuglietta @ Oasis to Zen Transformation Spa $15: 10 - 11 AM (Every week on Sunday)
📆 PVHS Athletic Events in February 2024
Visit Here to Access the PVHS Athletic Events Monthly Schedule.
🌤 Summerlin South, Las Vegas Weather
⚡ NV Energy Customers to Fund Employee Bonuses, Despite Utility Missing Targets
In a contentious decision, the Public Utilities Commission has mandated that NV Energy customers in Southern Nevada will finance bonuses for the utility's employees, even though the company fell short of its performance objectives. This ruling, which arose from discussions on NV Energy's general rate adjustments, has sparked debate over the fairness of passing such costs onto consumers.
The utility, serving Southern Nevada, proposed bonuses for its employees based on the achievement of specific company goals. While NV Energy only reached 56.9% of its targeted objectives, the Commission has approved bonus compensation at a level reflecting 95% goal attainment. The initial estimate for these bonuses was around $5.75 million, but the approved amount has been reduced to $4.27 million, translating to a minor 0.4% increase in the general rate revenue from Southern Nevada customers.
Meghin Delaney, representing NV Energy, emphasized that the average residential customer would see an approximate monthly increase of 33 cents on their bills due to these bonus payments. The utility argues that such incentives are crucial for maintaining a competitive compensation package to attract and retain skilled employees, akin to practices in other industries.
However, the Bureau of Consumer Protection voiced concerns, arguing it's imprudent for customers to bear the cost of bonuses that exceed the utility's performance achievements. Commissioner Randy Brown, who authored the order for the bonus payments, countered that rewarding high-performing employees is essential for retaining a competent workforce and ensuring customer satisfaction. Brown highlighted that NV Energy's staff compensation falls below the utility industry's average, making such measures necessary.
Commissioner Tammy Cordova dissented, questioning the rationale behind customers funding bonuses for unmet objectives, suggesting that ratepayers should only cover costs for earned bonuses. Meanwhile, Commissioner Hayley Williamson supported the decision, downplaying the financial impact on consumers as negligible.
This decision underscores the ongoing debate over utility rate structures and the balance between rewarding employee performance and safeguarding consumer interests, especially when the utility's achievements do not fully align with its goals.
💲 Super Bowl 58 in Las Vegas Surpasses Economic Expectations
Las Vegas tourism officials are anticipating that the economic impact of Super Bowl 58, hosted at Allegiant Stadium, will surpass initial forecasts. Initial estimates suggested the NFL championship event would generate at least $500 million in spending. However, the Las Vegas Convention and Visitors Authority (LVCVA) now believes these figures may be conservative, with revised projections suggesting visitor numbers and spending could be significantly higher.
Super Bowl weekend was expected to draw around 330,000 visitors to Las Vegas, but updated estimates indicate the number might have climbed as high as 450,000. The spending over the course of the Super Bowl festivities is now estimated to potentially reach $1.1 billion. Steve Hill, president and CEO of the LVCVA, shared his optimism regarding these figures, noting that feedback from local properties indicates the event's success exceeded high expectations.
The LVCVA reported that Las Vegas hosted 300 events related to the Super Bowl, including NFL-sanctioned events and property-specific watch parties. The event also attracted extensive media coverage, with over 100 national and international broadcast stations present at Radio Row. According to the LVCVA's chief marketing officer, Kate Wik, the Super Bowl generated an estimated 14,000 news stories and over 5 billion domestic impressions.
The marketing value of hosting the Super Bowl, characterized by perfect weather and a highly praised game, is considered immeasurable by Hill. Nevada's sportsbooks experienced a historic high with $185.6 million in bets placed on the game, and TV viewership broke records with an average audience of 123.4 million viewers, as reported by CBS Sports.
Hospitality analytics firm STR projected that the average daily room rate for the Super Bowl weekend would hit $573, setting a new record for Super Bowl weekends. This compares favorably to the rates during the Formula One Grand Prix in November, which saw an average daily rate of $502 among approximately 145,000 visitors who spent about $561 million.
Hill refrained from directly comparing the economic impacts of the Super Bowl and the Formula One Grand Prix but emphasized the unique challenges and successes of hosting each event in Las Vegas. Both events have significantly contributed to Las Vegas' reputation as a premier destination for major sports events, promising ongoing benefits to the city's tourism and hospitality sectors.
🏈 High School Sports Roundup: Playoff Highlights and Upcoming Semifinals
In a thrilling display of skill and teamwork, the high school sports scene across Nevada saw remarkable performances in both flag football and basketball state quarterfinals this Tuesday, setting the stage for intense semifinal matchups later this week.
Flag Football
In the Class 5A flag football state quarterfinals, No. 3 seed Palo Verde secured a 19-6 victory over No. 6 Las Vegas, thanks to a standout performance by senior Olivia Perkins. Perkins not only delivered offensively with eight receptions for 65 yards and two touchdowns but also contributed defensively with nine tackles. Palo Verde, now with a 19-4 record, is set to face No. 2 seed Desert Oasis in a highly anticipated state semifinal on Thursday.
Desert Oasis advanced to the semifinals after a dominant 48-6 win over No. 7 Tech, with sophomore quarterback Akemi Higa leading the charge with 221 passing yards and six touchdowns, alongside 70 rushing yards. Meanwhile, No. 4 Bishop Gorman defeated No. 5 Basic 38-14, setting up a semifinal match against Shadow Ridge, which bested No. 8 Centennial 19-0.
In the Class 3A quarterfinals, Moapa Valley overcame SLAM Academy 40-20, with senior Kyndal Longman throwing for 154 yards and two touchdowns. Moapa Valley will now take on Virgin Valley in the semifinals, following Virgin Valley's commanding 59-6 win over Doral Academy. Mater East also advanced to the semifinals with a 36-7 victory over Sloan Canyon and will face Boulder City, which defeated Eldorado 48-12.
Boys Basketball
The Class 4A boys basketball quarterfinals saw No. 1M Faith Lutheran triumph over No. 2S Cimarron-Memorial with a score of 62-49, propelled by seniors Caleb Pigge and Graydon Lemke's 17 points each. Faith Lutheran is poised to host Somerset-Losee in the semifinals. Somerset-Losee narrowly escaped Valley in overtime, 90-88, in a thrilling match that showcased the team's resilience.
Other notable games included Sierra Vista's 71-68 victory against Rancho and Canyon Springs' 74-43 upset over Legacy. Sierra Vista and Canyon Springs will face off in another semifinal match.
Girls Basketball
On the girls' basketball front, No. 1S Legacy dismantled No. 2M Cimarron-Memorial 71-35 in the Class 4A quarterfinals, thanks to junior Laila Gines' impressive shooting. Legacy will next face Foothill, which secured a 57-win over Tech. Canyon Springs and Basic also advanced, setting up their respective semifinal matches against Somerset-Losee and Sierra Vista.
In Class 3A, Moapa Valley and Pahrump Valley both showcased their dominance with convincing wins over SLAM Academy and Cadence, respectively. They'll be looking to extend their successful campaigns in the upcoming semifinals.
These games not only highlight the talents of young athletes across Nevada but also set the stage for thrilling semifinal matchups. Fans and players alike are eagerly awaiting the next round of action, promising more memorable moments in high school sports.
Summerlin Area Command - Week Ending: February 9, 2024
Courtesy of The Las Vegas Metropolitan Police Department. The entire report for all Area Commands may be viewed here.
📌🏠 Summerlin South - January 2024
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
📌✅ We Want To Spotlight Your Business!
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