Nevada signs energy-saving contract
NEVADA - Nevada has contracted with a Dallas-based firm that finds ways to cut utility bills and save its clients millions of dollars — for an average 30 percent cut of the savings.
Members of the state Board of Examiners, chaired by Gov. Jim Gibbons, voted to sign a contract for up to $10 million with LPB Energy Consulting, headed by Matthew Berke. The contract runs through August 2012.
State Treasurer Kate Marshall presented the plan to the board, saying there are no up-front costs or long-term liabilities for the state. LPB's fee is based on actual energy cost savings — and without savings there is no fee.
Berke said LPB has similar contracts in several states, including Texas, Massachusetts, Utah, Mississippi and Maine. In Nevada, all state agencies plus the university and court systems, Legislative Counsel Bureau and political subdivisions can try the LPB service.
LPB centralizes data on utility bills and generates reports that pinpoint ways of cutting energy costs. Berke said the state could wind up saving several million dollars on utility costs over the term of the contract.
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"The Regulated Rate Option cap of 6.8 cents/kWh was implemented by the previous government and currently remains in effect. We are reviewing all…
