News Releases

Nevada Power Company to Acquire Bighorn Electric Generating Plant from Reliant Energy

Apr 21, 2008

Media Contacts:

Sierra Pacific Resources: Adam Grant                                    

Reliant Energy: Pat Hammond

Investor Contacts:

Britta Carlson                                                   
Sierra Pacific Resources                                    

Reliant Energy: Denis Barber

LAS VEGAS AND HOUSTONâ€" Nevada Power Company, a wholly owned subsidiary of Sierra Pacific Resources (NYSE: SRP), has reached an agreement with Reliant Energy, Inc. (NYSE: RRI) to acquire Reliant's Bighorn Generating Station, a 598-megawatt natural gas-fired, combined-cycle power plant located near Primm, Nevada, approximately 35 miles south of Las Vegas.

Under terms of the agreement, which is subject to certain state and federal regulatory approvals, Nevada Power will pay approximately $500 million for the plant, plus related inventory.

The companies expect the acquisition's closing to occur later this year following required approvals by the Public Utilities Commission of Nevada, the Federal Energy Regulatory Commission and Hart-Scott-Rodino review.

Commissioned in 2004, Bighorn utilizes"dry-cooling"technology to conserve the area's water resources. In 2007, the plant was recognized by OSHA's (Occupational Safety and Health Administration) Voluntary Protection Program, and received a VPP Star designation.

Goldman, Sachs& Co. and J.P. Morgan Securities Inc. are serving as financial advisors for Nevada Power and Reliant, respectively. 

About Reliant Energy
Reliant Energy, Inc. (NYSE: RRI) based in Houston, Texas, provides electricity and energy services to retail and wholesale customers in the United States. In Texas, the company provides service to approximately 1.8 million retail electricity customers, including residential and small business customers and commercial, industrial, governmental and institutional customers. Reliant also serves commercial, industrial, governmental and institutional customers in the PJM (Pennsylvania, New Jersey and Maryland), Illinois and New York markets.
The company is one of the largest independent power producers in the nation with approximately 16,000 megawatts of power generation capacity across the United States. These strategically located generating assets utilize natural gas, fuel oil and coal. For more information, visit

About Sierra Pacific Resources and Nevada Power
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 also distributes natural gas in the Reno-Sparks area of northern Nevada. 

Nevada Power is a regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy in the communities of Las Vegas, North Las Vegas, Henderson, Searchlight, Laughlin and their adjoining areas. Nevada Power also provides electricity to Nellis Air Force Base, the Department of Energy at Mercury and Jackass Flats at the Nevada Test Site.  Nevada Power provides electricity to approximately 826,000 residential and business customers in a 4,500 square mile service area.

This news release contains"forward-looking statements"that contain projections, estimates or assumptions about the sale of the Bighorn Generating Station. In many cases you can identify forward-looking statements by terminology such as"intend,""may,""plan,""will,""expect,"and other similar words. However, the absence of these words does not mean that the statements are not forward-looking.

Actual results may differ materially from those expressed or implied by forward-looking statements as a result of many factors or events, including, but not limited to, regulatory developments and approvals, legal, governmental and bankruptcy proceedings, financial market conditions, access to capital, changes in commodity prices and interest rates, and other factors we discuss or refer to in the"Risk Factors"section of our filings with the Securities and Exchange Commission.

This press release contains forward-looking statements regarding the future performance of Nevada Power Company, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, Nevada Power's ability to obtain necessary state and federal regulatory approvals and permits, changes in applicable environmental laws or regulations, and Nevada Power's ability to obtain financing on favorable terms. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Nevada Power Company are contained in its Annual Report on Form 10-K for the year ended December 31, 2007, filed with the SEC. Nevada Power Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.