News Releases

Sierra Pacific Resources' Financial Chief Named to Head Nevada Power

May 29, 2001

Mark Ruelle, senior vice president and chief financial officer of Sierra Pacific Resources (NYSE: SRP), has been elected by the board of directors to serve as president of its southern Nevada utility, Nevada Power. Ruelle will be replacing Steve Rigazio, who is retiring June 1 due to health reasons. Ruelle will continue to serve as chief financial officer until a replacement is named.

Ruelle joined Sierra Pacific Resources four years ago and has been closely involved with the merger of its northern Nevada utility, Sierra Pacific Power, and Nevada Power. Most recently, he has helped lead the company's efforts to avert a California-style collapse of the state's energy services with a rate and deferred accounting plan that protects the company's financing ability. Ruelle has served as chief financial officer of Nevada Power and Sierra Pacific Power since July, 1999.

"Mark has the right balance of experience, leadership qualities and commitment to excellence that will serve our customers and community very well," said Walt Higgins, president, chairman and CEO of Sierra Pacific.

Prior to joining Sierra Pacific Resources, Ruelle was with Western Resources, Inc., where he held the positions of president, Westar Energy; vice president-corporate development, and numerous positions in finance, treasury, strategic planning, and regulatory affairs.

Ruelle holds bachelor's and master's degrees in economics from the University of North Dakota. He taught undergraduate economics courses at the University of North Dakota and at Washburn University.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California, and a natural gas and water distributor in the Reno-Sparks area. Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns 50% interest in an interstate natural gas transmission partnership, and Sierra Pacific Communications, a telecommunications company.


SOURCE: Sierra Pacific Resources

Contact: Analysts, Rich Atkinson, 775-834-5300 or Barbara Doble,
702-367-5604, or News Media, Sonya Headen, 702-367-5680 or Karl Walquist,
775-834-3891, all for Sierra Pacific Resources