News Releases

Sierra Pacific Withdraws Retail Energy License Application

Feb 29, 2000

March 1, 2000
Sierra Pacific Resources
Contact: Rich Atkinson, Sierra Pacific Investor Relations / Faye I. Andersen, Sierra Pacific Media Relations
Phone: (775) 834-4358 / (775) 834-4822

For Immediate Release

RENO, NVÂ- Sierra Pacific Resources (SPR:NYSE) announced today that it is withdrawing its retail energy license application with the PUCN and will not pursue the retail energy services business which it had proposed to conduct through its subsidiary, Sierra Pacific Energy Co. Sierra Pacific Energy, doing business in southern Nevada as Nevada Power Services, is a wholly owned subsidiary of Sierra Pacific Resources.

As a result of a recent negative decision by the PUCN relating to fuel cost recovery, the company is looking to reduce costs and expenses wherever possible, said Steve Rigazio, senior vice president of Energy Delivery for Sierra Pacific.

He said the company would instead concentrate on the core businesses of electric distribution and transmission through its utility subsidiaries.