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Battle of the billionaires drives Nevada contest | TheHill

posted onAugust 10, 2018
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Article snippet: LAS VEGAS — Attendees at a job fair hosted by the Latin Chamber of Commerce strolled through a local mall on a recent Saturday, taking information and back-to-school giveaways from employers looking for new workers. Those same job-seekers were also being sought out by aggressive canvassers working the crowd, urging state residents to vote against a confusing ballot measure that could change the way their homes are powered. ADVERTISEMENT The ballot measure is at the heart of an expensive fight over the future of Nevada’s energy market, a contest between two of America’s wealthiest men — Sheldon Adelson and Warren Buffett — who want more control over the power source that fuels the billions of lights and hundreds of neon screens that dominate the mega-casinos just a mile from the mall. Nevada law gives utility companies the right to establish and control monopolies in the state, regulated by the Nevada Public Utilities Commission. Under the current system, NV Energy controls about 90 percent of the energy market. Now, a group led by casino owners and data centers, which use tremendous amounts of energy, wants to prohibit energy monopolies. Their efforts have led to a measure, known as Question 3, for the November ballot that would overhaul the state’s energy market. If voters approve the measure on Election Day, the state legislature would be required to write new regulations to establish open and competitive electricity markets by 2023. Changes to the state cons... Link to the full article to read more

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