Media Contact: Andrea Smith, 702-367-5843
Analyst Contact:  Britta Carlson, 702-367-5624

Nevada Power, a wholly-owned subsidiary of Sierra Pacific Resources (NYSE:SRP), announced today that the third and final phase of its Centennial Project is now energized and supplying power to southern Nevada.  The new 48-mile, 500-kV transmission line from Harry Allen to Mead substations was energized earlier this week culminating a project that began in 2000. 

Highlights of the entire Centennial Project include:

* Construction of 176 miles of new 500kV and 230kV transmission lines
* Construction of three new 500kV and 230kV switching stations
* Provides Nevada Power customers access to approximately 3750 MW of new energy supplies
* Upgrades to Harry Allen, Crystal, Northwest and Mead substations

"Because of the growth of southern Nevada, it is imperative that we have access to reliable power supplies along with the ability to transport that power,"said Jeff Ceccarelli, corporate senior vice president, service delivery and operations for Sierra Pacific Resources. "This large scale transmission project greatly increased our ability to bring energy into southern Nevada and to move power throughout the valley which means more reliable service for our customers."

The Centennial Project was first approved by the Nevada Public Utilities of Commission (PUCN) under the company's amended 2000 Resource Plan.  Costs to complete the project filed with the PUCN are estimated at $309 million.

Nevada Power Company is a regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy in the southern Nevada communities of Las Vegas, North Las Vegas, Henderson, Searchlight, Laughlin and their adjoining areas. The Company also provides electricity to Nellis Air Force Base, the
Department of Energy at Mercury and Jackass Flats at the Nevada Test Site. Nevada Power Company provides electricity to approximately 790,000 residential and business customers in a 4,500 square mile service area.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for most of southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California. Sierra Pacific Power Company also distributes naturalgas in the Reno-Sparks area of northern Nevada.