News Releases

Nevada Power Company Files General Rate Case

Sep 30, 2001

Nevada Power
Contact: Sonya Headen
Phone: (702) 367-5222

For Immediate Release

Las Vegas, Nev.Â-Nevada Power Company filed a General Rate Case with the Public Utilities Commission of Nevada (PUCN) today. The filing, the first general rate filing since 1993, seeks an overall three percent increase for operating costs. The typical residential customer can expect a $4-$5 monthly increase in thesummer and a $10-$11 monthly increase in the winter.

Under existing rules, Nevada Power is required to take a two-phased approach to resetting energy policy and electric rates. The general rate case, phase one, is the beginning of a six-month public filing process before any rates are changed on April 1, 2002. Phase one will provide a detailed look at the company's facility additions (nearly $1 billion since 1993), and all incurred expenses including capital costs.

Phase two is the deferred energy case and will occur on or before December 1. This filing involves a request to reset energy rates and to recover balances for fuel and power purchased since March 1 during the height of the energy crisis. Phase two will be heard in conjunction with the general rate case.

Following a thorough review and approval by the Public Utilities Commission of Nevada, rate changes are expected to take effect in April 2002.

Headquartered in Nevada, Sierra Pacific Resources'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 distributor in the Reno-Sparks area. Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns a 50 percent interest in an interstate natural gas transmission partnership, and Sierra Pacific Communications, a telecommunications company. Sierra Pacific Resources'utility subsidiaries serve approximately 95 percent of Nevada's residents, providing electricity and/or gas to approximately 1.04 million customers in their service territories.