Sierra Pacific Resources
Contact: Karl Walquist (775) 834-3891
Bob Sagan (775) 834-4834
Phone: See Contacts

For Immediate Release

Las VegasÂ- Sierra Pacific Resources (NYSE: SRP) and the Public Utilities Commission of Nevada announced today that Sierra Pacific will take steps later this month to effectuate a dismissal of the company's federal lawsuit challenging the Nevada deregulation law.

Sierra Pacific had agreed to drop the lawsuit as one of the terms in the Global Settlement.

"It certainly has always been our intent to honor the terms of the Global Settlement," said William Peterson, Sierra Pacific senior vice president and general counsel."More importantly, we share the commission's concern that everyone's efforts must be focused now on the greater issues facing energy consumers in the state. The commission has asked that we drop this lawsuit to help clear the way for greater cooperation by everyone, and we are prepared to begin that process."