News Releases

NV Energy Files to Decrease Both Electric and Natural Gas Rates in Northern Nevada

Feb 27, 2009

Media Contact: Faye I. Andersen, (775) 834-4822

Reno, Nev. Sierra Pacific Power Company, doing business as NV Energy (NYSE:NVE), today made its annual electric and natural gas filings with the Public Utilities Commission of Nevada (PUCN) calling for an overall 2.7 percent decrease in electric rates for northern Nevada customers and an overall 4.7 percent decrease in natural gas rates for Reno-Sparks customers.

For the typical NV Energy residential customer in northern Nevada using 740 kilowatt hours of electricity, the filing means a 2.5 percent decrease in monthly bills, from $107.72 to $105.10, or $2.62.  For Reno-Sparks natural gas customers using 56 therms of gas, the filing means a monthly decrease of 4.5 percent in bills, from $73.00 to $69.71, or $3.29.

Any changes in rates approved by the PUCN will become effective October 1, 2009.

The PUCN sets these rates, known as deferred energy rates, to recover costs the utility pays to purchase electricity or natural gas from external suppliers, or to purchase fuel to generate electricity to serve customers.  These costs are passed on, dollar-for-dollar, with no additional mark-ups or profits to the company.

In the coming months, the PUCN will hold hearings and undertake a full review of the company's annual filing.

NV Energy serves approximately 300,000 electric customers in northern Nevada and approximately 150,000 natural gas customers in the Reno-Sparks area.

Headquartered in Las Vegas, Nevada, NV Energy, Inc. is a holding company whose principal subsidiaries. Sierra Pacific Power Company and Nevada Power Company, are doing business as NV Energy.  Serving 54,500 square-mile service territory that stretches north to south from Elko to Laughlin.  NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada as well as approximately 40 million tourists annually.


These statements contain forward-looking statements regarding the future performance of NV Energy, 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, unfavorable rulings in the deferred energy rate cases and general rate cases of NV Energy, and volatility and fluctuations in the markets for purchased power and natural gas.  Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, are contained in the Annual Report of Sierra Pacific Power Company d/b/a NV Energy on Form 10-K for the year ended December 31, 2008, filed with the SEC.  NV Energy 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.