VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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SUMMER HEAT, RATE HIKE LEAD TO BOOMING PROFITS FOR UTILITY IN BUSINESS ENERGY By Eli Segall staff writer N their power bills. lion of profit, or 5 cents per share, dur- ing the same period last year. V Energy posted a large boost in second-quarter profits thanks largely to warm weather and a rate hike. The Las Vegas-based utility said it earned $69.4 million of net income, or 29 cents per share, for the three months ending June 30. That's up from $12.9 mil- Company executives attributed the growth in large part to unusually warm share in the second quarter. weather and a rate increase that took effect Jan. 1. As part of the hike, single- family homes in Southern Nevada were During a conference call with analysts, NV Energy President and CEO Michael expected to face a 3.5 percent bump inT:9.25"ed its "Renewable Transmission Initia- Yackira also said the company had end- NV Energy, with principal subsidiar- ies Nevada Power Co. and Sierra Pacific Power Co., serves 2.4 million Nevada residents, or about 90 percent of the state's population. Analysts had estimated, on average, the company would earn 18 cents per tive," an effort to bring hundreds of miles of new transmission lines for renewable power to Nevada and California. My business could always use some extra money Get a $100 Reward when you open a new Merchant Services Account You work hard to keep your business running, so we'd like to offer you a double reward. Take advantage of our Double Promotional Offer and receive $100 when you open a Merchant Services account with Wells Fargo. With a Merchant Services account you get reliable payment processing along with superior 24/7 customer support, plus the tools you need to help broaden your customer base, increase sales, and boost your cash flow. Call, click wellsfargo.com/biz/merchant, or stop by to start a conversation with a Wells Fargo banker today to learn more. Offer valid from July 1, 2012, through September 30, 2012. Wells Fargo Merchant Services (WFMS) will give qualifying customers a $100 direct deposit. To qualify, customers must (1) open a new WFMS account, (2) direct deposit their WFMS funds into a Wells Fargo deposit account, (3) activate their WFMS account by processing at least $50 in Visa®, MasterCard®, or Discover® transactions within 30 days of account open date, and (4) submit the required offer fulfillment form within 30 days of WFMS account approval date. The $100 direct deposit will be made to the customer's Wells Fargo deposit account within 60 days after the customer has submitted the required online offer fulfillment form and met offer qualifications. Double offer of $100 is based on doubling the $50 Visa® Gift Card offered by WFMS from July 1, 2012, through September 30, 2012. Limited to one $100 deposit per Tax ID. The WFMS account and Wells Fargo deposit account must be open, active, and in good standing at the time of the $100 deposit. Not valid with any other WFMS offer or Payment Suite. Offer subject to change at any time. © 2012 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. | 6 AUGUST 2012 | Client: WELLS FARGO Job No.: WFL-CM-P12-170 Document: WFL-170 9.25x9.25_4C.indd Live: 8.75" x 8.75" Date: 6-29-2012 12:49 PM DDB Office: Los Angeles Notes: VEGAS INC. (9.5x9.25 float) Insertion Date: 7/9 Round: FM 7 T:9.25"