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

For Immediate Release

Las Vegas, NV - Nevada Power Company today announced it has issued a Request for Proposals (RFP) for certain long-term power contracts, beginning the years 2004-2006. The RFP is part of the planning process called for in the 2003 Integrated Resource Plan that the company filed last week with the Public Utilities Commission of Nevada (PUCN).

"As we emphasized in our filing, longer-term contracts can significantly reduce price volatility, certainly when compared with continued reliance on short- and intermediate- term energy purchases,"said Michael Yackira, executive vice president for strategy and policy of Sierra Pacific Resources (NYSE:SRP), the parent company of Nevada Power."This RFP is just one of many steps we hope to take in bringing stability to the energy pricing structure in Nevada."

Parties interested in submitting responses to the RFP, or wishing more information related to the RFP should go to Nevada Power's website at:

http://www.nevadapower.com/company/RFPs/

Headquartered in Las Vegas, Nevada Power is the principal electric utility in southern Nevada. It is a wholly owned subsidiary of Sierra Pacific Resources (NYSE: SRP), which also is the holding company for 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 of Sierra Pacific Resources include the Tuscarora Gas Pipeline Company, which owns 50 percent interest in an interstate natural gas transmission partnership, Sierra Pacific Communications, a telecommunications company, and Sierra Pacific Energy (e-three), an energy conservation services company.