News Releases

Nevada Power Launches Website for Land Auction

Jun 12, 2003

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

For Immediate Release

Las Vegas, NV---Nevada Power Company launched a website today to provide information on a 1.5-mile strip of land along Flamingo Road that, as previously announced, will be auctioned to pre-qualified bidders on August 12. The give interested buyers an opportunity to review property specs and auction procedures.

The land, located between Koval and Maryland Parkway, has been appraised for $25 million. The company plans to sell the properties for no less than the appraised fair market value.

Victor Peña, senior vice president and chief administrative officer of Sierra Pacific Resources, Nevada Power's parent company, said proceeds from the sale will ultimately go to Nevada ratepayers.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for most of southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California. Sierra Pacific Power Company also distributes natural gas in the Reno-Sparks area of northern Nevada. Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns 50 percent interest in an interstate natural gas transmission partnership and several unregulated energy services companies.