News Releases

Sierra Pacific Seeks Increase for California Customers

Jun 2, 2005

Media Contact: Faye I. Andersen 775-834-4822

Sierra Pacific Power Company filed with the California Public Utilities Commission (CPUC) today to increase electric rates for its California customers by $8.2 million, or 12.8 percent.  If approved by the CPUC, the typical residential customer using 650 kilowatt hours of electricity would see an increase from $77.01 to $89.29 per month. The increase could become effective in 2006.

In today's filing, the company requested to increase its prices to include capital expenditures for new investments in the company's electric system and maintenance of facilities to distribute electricity to serve customers.  Since the last general rate case filing in 2002, Sierra Pacific has invested $18.6 million in its California electric system, and expects to invest an additional $16.3 million over the next two years.  The filing also includes the cost of energy efficiency programs provided by the company.

“Over the past several years we have added new plants, power lines and other electric facilities and programs to serve customers.  This filing reflects these investments and costs from 2002 to 2006,” said Mary Simmons, vice president of External Affairs for Sierra Pacific.

The company's filing is subject to review and analysis by the CPUC's staff and other parties.  Sierra Pacific has requested that the increase become effective in January 2006.

Approximately 80 percent of Sierra Pacific's 45,000 California customers reside in the Lake Tahoe Basin.  The company's California service area extends from Portola in the north to Markleville and Topaz Lake and Coleville in the south.  Sierra Pacific serves approximately 285,000 customers in northern Nevada.

Sierra Pacific Power Company, a wholly-owned subsidiary of Sierra Pacific Resources (NYSE:SRP), is the electric utility serving 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.  Sierra Pacific Resources is also the holding company for Nevada Power Company, serving most of southern Nevada, and Tuscarora Gas Pipeline Company, which owns 50 percent interest in an interstate natural gas transmission partnership