News Releases

Sierra Pacific Resources One of Eight Utilities Seeking to Increase Energy Efficiency Investment

Sep 27, 2007

Media Contact:: Andrea Smith, (702) 367-5843

Sierra Pacific Resources (NYSE: SRP) joined seven other utilities in a commitment to increase investment, pending regulatory approval, for energy efficiency as announced today by the Clinton Global Initiative (CGI).  The company will request an increase in investment in its customer programs to a total of about $135 million over the next three years.  The eight companies combined commitment will raise the total investments in energy efficiency to about $1.5 billion annually and reduce carbon dioxide emissions by 30 million tons by 2016.
"A top priority for our company is finding ways to help our customers reduce their energy consumption and lower their bills,"said Michael Yackira, president and chief executive officer of Sierra Pacific Resources."This initiative is consistent with our three-part strategy, which also includes increasing renewable resources and diversifying our energy supply portfolio.  We are proud to join other industry leaders who are taking action to address environmental concerns."

Participating along with Sierra Pacific Resources as part of the CGI are Con Edison, Duke Energy, Edison International, Great Plains Energy, Pepco Holdings, PNM Resources and Xcel Energy. The eight utilities, which represent nearly 20 million customers in 22 states, also committed to the creation of a national institute for electric efficiency to develop regulatory models and convene supporting conferences in the power sector.  This institute would be formed within the Edison Electric Institute, which represents the nation's investor-owned electric utilities. 

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 natural gas in the Reno-Sparks area of northern Nevada.