News Releases

FERC Merger Hearings Could Conclude This Week

Jun 26, 1996

Sierra Pacific Resources
Contact: Faye I. Andersen
Phone: (775)834-4822

For Immediate Release

The Boards of Directors of Sierra Pacific Resources and Washington Water Power Co. met independently Wednesday to review progress on their pending merger. Neither board took any action.

All provisions of the merger agreement remain in force. According to the agreement between the two companies, the merger agreement continues in effect if no action is taken by either board. After June 27, 1996, two years from the announcement of the merger, either party is permitted to terminate the merger agreement without penalty, upon notice to the other party.

Hearings continue before the Federal Energy Regulatory Commission (FERC) in Washington, D.C. Hearings began Monday and are expected to be concluded today or tomorrow. The Administrative Law Judge presiding over the hearings is expected to issue his recommendation in the case this fall. A final decision from the FERC is anticipated later this year or early 1997.