News Releases

Nevada Regulatory Draft Order Reduces Uttility's Request

Mar 20, 2000

March 21, 2000
Sierra Pacific Resources
Contact: Rich Atkinson/Faye I. Andersen
Phone: (775) 834-4358 / (775) 8345-4822

For Immediate Release

RENO, NEV.Â- Nevada Power Co., a wholly-owned subsidiary of Sierra Pacific Resources ((NYSE:SRP), announced that the Public Utilities Commission of Nevada (PUCN), issued a draft order yesterday in the utility's deferred energy filing that indicates a substantial reduction in the amount requested by the company.

Nevada Power Co. filed with the PUCN July 15, 1999 to recover $44 million in costs previously incurred by the company to provide service to customers. It is the company's opinion that the PUCN's final order will substantially reflect the draft order and lead to a write-off of approximately $20 million against first quarter 2000 earnings and a reduction in expected future revenues.