NV Energy says quarterly profit of $173.5 million is down

NV Energy Inc., Nevada’s main electric utility, today said its third-quarter profit fell slightly on lower revenue.

The Las Vegas-based company said it earned $173.5 million or 73 cents per share in the third quarter ended Sept. 30, down from $177.6 million or 75 cents in the year-ago quarter.

Operating revenue of $1.018 billion was down from $1.128 billion in the 2010 quarter.

The company’s residential customer count increased 0.9 percent year-to-year, but residential electric usage fell 0.7 percent as cooler weather in Southern Nevada resulted in less power drawn by air conditioners.

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