News Releases

NV Energy Seeks Approval of One Nevada Transmission Line, Renewable Projects and Conservation Efforts

Jul 1, 2009

NV Energy (NYSE: NVE) will file today with the Public Utilities Commission of Nevada (PUCN) its Integrated Resource Plan for the company’s southern territory. In the filing, the company seeks approval of a number of key initiatives to be implemented over the next three years in the areas of renewable energy, transmission, and energy efficiency and conservation.

“This resource plan primarily focuses on two key components of our company’s three-part strategy – expanding the use of renewable resources and increasing our energy efficiency and conservation programs,” said Michael Yackira, president and CEO of NV Energy. “Our priority in this filing is to provide our customers with access to the abundant natural resources available throughout Nevada and to further programs that will help reduce energy usage and its impact on utility bills and the environment.”

The company is seeking approval of initiatives that include:

  • Construction of the One Nevada Line (ON Line) 500 kV transmission line with an in-service date of 2012
  • New energy efficiency and conservation programs and the expansion of existing programs
  • Renewable Energy – two purchased power agreements for two solar projects, continued development of China Mountain wind and Amargosa solar projects, and construction of three utility-scale solar photovoltaic facilities

Yackira added that ON Line will provide greater system reliability by linking the northern and southern systems for the first time, as well as expand renewable development in Nevada for the benefit of Nevadans. “This will provide greater access to wind and geothermal resources for our southern customers and better access to solar generation for our northern customers,” he said. “ON Line significantly increases our ability to obtain energy independence for Nevada by enabling us to share these resources, as well as use more cost effectively our generation fleet to serve customers statewide, which maximizes efficiency and improves reliability.”

NV Energy has filed an Integrated Resource Plan for each utility every three years since the Nevada Legislature in 1983 granted the PUCN authority over the utility's long-term planning process. The plan is based on customer load projections, and includes programs to reduce energy consumption, and develop sites for new generation and transmission in order to meet the projected demand. The plan also contains strategies for the procurement of fuel and purchased power.

These initiatives are subject to the approval of the PUCN. Any costs associated with the approval will be sought in a later general rate case.

Headquartered in Las Vegas, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. Serving a 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.

Forward-Looking Statements: This press release contains forward-looking statements regarding the future performance of NV Energy, Inc. and Nevada Power Company d/b/a 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 Nevada Power’s general rate cases, Nevada Power’s ability to obtain any necessary local, state and federal regulatory approvals and permits for constructing and financing solar renewable energy projects and the proposed transmission line, changes in the anticipated costs of the proposed projects, changes in applicable environmental laws or regulations, Nevada Power’s ability to maintain access to the capital markets to obtain financing for the proposed projects on favorable terms, and regulatory treatment of costs associated with constructing and operating the proposed projects. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, are contained in the Annual Reports of NV Energy, Inc. and Nevada Power Company d/b/a NV Energy on Form 10-K for the year ended December 31, 2008 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2009, 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.

For further information:

Source: NV Energy, Inc.

NV Energy
Adam Grant, 702-402-5222
Britta Carlson, 702-402-5624