News Releases

NV Energy Files Integrated Resource Plan With Public Utilities Commission of Nevada

Feb 1, 2010

NV Energy filed with the Public Utilities Commission of Nevada (PUCN) its Integrated Resource Plan for the company’s southern territory. The company is seeking approval of conservation, transmission and renewable energy initiatives including:

  • Construction of a jointly-owned 500 kilovolt transmission line with Great Basin Transmission, LLC, an affiliate of LS Power. The line will link NV Energy’s northern and southern service areas and provide access to isolated renewable energy resources in parts of northern and eastern Nevada.

  • Advanced Service Delivery (ASD) – NV Energy received a $138 million grant in stimulus funding from the Department of Energy (DOE) specifically for the implementation of the company’s $298 million ASD project. The ASD project will provide Nevada with the smart grid infrastructure necessary to enable customers to directly manage their energy use and allow for better management of energy resources statewide.

  • Three purchase power agreements that will add approximately 300 megawatts of renewable energy to the company’s renewable portfolio. These agreements are for power to be supplied by the Spring Valley Wind project (150 MW); SolarReserve’s Crescent Dunes Solar Energy Project (100 MW) and Ormat’s McGuiness Hills Geothermal Project (30 MW).

 "This filing moves forward NV Energy’s position as a nationwide leader in renewable and energy efficiency initiatives,” said Michael Yackira, NV Energy President and Chief Executive Officer. “It also marks the first time since the beginning of the last decade that the company is not requesting approval of a fossil-fueled power plant, instead counting on the benefits of our state’s plentiful renewable resources while enabling our customers to control their energy consumption and lower their bills."

NV Energy is required to file its Integrated Resource Plan every three years. 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. It also contains strategies for the procurement of fuel and purchased power.

These initiatives are subject to the approval of the PUCN.

Headquartered in Las Vegas, Nevada, NV Energy, Inc. is a holding company with principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, doing business as NV Energy. Serving a combined 54,500-square-mile service territory, NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada and nearly 40 million tourists annually. 

Certain matters in this press release are forward-looking statements 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, changes in NV Energy’s load forecasts, NV Energy’s ability to obtain any necessary local, state and federal contracts, regulatory approvals and permits, risks related to construction of the projects contemplated in the IRP, changes in the anticipated costs of the projects, the ability to maintain access to the capital markets to obtain financing on favorable terms, and regulatory treatment of costs associated with constructing and operating the projects and a final agreement between NV Energy and Great Basin Transmission, LLC. 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 and Sierra Pacific Power Company d/b/a NV Energy on Form 10-K for the year ended December 31, 2008 and in its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2009, June 30, 2009 and September 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:

Media Contact: Jennifer Schuricht  702.402.5241