LAS VEGAS (AP) — Casino companies MGM Resorts International and Wynn Resorts are telling state utility regulators they intend to pull the plug from regional utility Nevada Power and obtain their electricity from the wholesale market starting Oct. 1.
The Las Vegas Review-Journal reports the two Las Vegas Strip hotel-casino owners will be the first to leave in more than a decade, using a 2001 law enacted by the Nevada Legislature.
Nevada Power is the regional subsidiary of NV Energy.
MGM Resorts is being assessed an exit fee of $86.9 million to protect remaining utility customers, and Wynn will pay $15.7 million.
A Nevada Public Utilities Commission filing on Friday says MGM plans to buy its electricity from Tenaska Power Services.
Wynn announced its intention to leave in a filing last month.
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