Question 3 is a ballot measure in Nevada that aims to amend the state constitution to establish an open, competitive retail electricity market. If approved by voters, it would break up the existing monopoly held by NV Energy and allow customers to choose their own electricity provider.
Proponents of Question 3 argue that it will increase competition, leading to lower prices and more options for consumers. They also believe it will promote cleaner energy sources and innovation in the industry. Opponents, however, express concerns about potential rate hikes, job losses, and the uncertainty of transitioning to a new system.
If Question 3 is passed, the Nevada Legislature would have until July 1, 2023, to establish a framework for the new competitive market. The measure includes provisions for the protection of low-income and vulnerable customers, as well as the requirement for new providers to meet renewable energy standards.
Supporters of Question 3 include Tesla, Switch, and other companies that argue for more control and choice over their energy sources. NV Energy, on the other hand, has actively opposed the measure, spending millions on a campaign against it.
Overall, the debate around Question 3 centers on the balance between competition and regulation in the electricity market. Supporters believe it will lead to cost savings and innovation, while opponents are concerned about potential negative impacts on consumers and the workforce. Nevada voters will decide the fate of Question 3 in the upcoming election, with both sides actively campaigning to sway public opinion.
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