LAS VEGAS, Nov. 22, 2010 /PRNewswire-FirstCall/ -- NV Energy, Inc. (the "Company") (NYSE: NVE), announced today that it will redeem the remaining $230,039,000 aggregate principal amount of its 8 5/8% Senior Notes due 2014 (the "Notes") on December 22, 2010 (the "Redemption Date"). Upon such redemption, there will not be any Notes outstanding. The Notes will be redeemed at a redemption price of 102.875% of the principal amount (the "Redemption Price"), plus accrued and unpaid interest up to but not including December 22, 2010.

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On and after the Redemption Date (upon payment of the Redemption Price by the Company), interest on the Notes will cease to accrue and all rights of the holders of such Notes, except the right to receive the Redemption Price, together with accrued and unpaid interest thereon to the Redemption Date, upon surrender of the Redemption Notes, shall cease.

Notices of redemption are being sent to the registered holders of the Notes. Copies of the notice of redemption may be obtained from The Bank of New York Mellon, the Paying Agent for the Notes. The Paying Agent can be reached at (800) 254-2826 or by mail at: The Bank of New York Mellon, Attn: Debt Processing Group, at 111 Sanders Creek Parkway, 2nd Floor, East Syracuse, NY 13057.

Headquartered in Las Vegas, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. Serving a 54,500-square-mile service territory that stretches north to south from Elko to Laughlin, NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada as well as approximately 40 million tourists annually.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the Notes, nor shall there be any offer, solicitation or sale of any Notes or other securities of the Company in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.

This press release may contain forward-looking statements regarding the future performance of the Company within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to current and prospective financial conditions, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in the Company's and its subsidiaries' financing agreements. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of the Company and its subsidiaries are contained in its quarterly report on Form 10-Q for the periods ending March 31, 2010, June 30, 2010 and September 30, 2010 and the Annual Report on Form 10-K as amended by Form 10-K/A for the year ended December 31, 2009. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE NV Energy, Inc.