-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BDmMbsRMNNOkQvssV3F2u+CjXOjfWxlKmMOYaLiffdm2993k3iXZXkX84xRvV8gA YtlizwPGdrGn/ntHxyxpHA== 0000741508-07-000055.txt : 20071130 0000741508-07-000055.hdr.sgml : 20071130 20071130170911 ACCESSION NUMBER: 0000741508-07-000055 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071128 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071130 DATE AS OF CHANGE: 20071130 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIERRA PACIFIC RESOURCES /NV/ CENTRAL INDEX KEY: 0000741508 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 880198358 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08788 FILM NUMBER: 071278637 BUSINESS ADDRESS: STREET 1: PO BOX 30150 STREET 2: 6100 NEIL RD CITY: RENO STATE: NV ZIP: 89511 BUSINESS PHONE: 7758344011 MAIL ADDRESS: STREET 1: P O BOX 30150 STREET 2: 6100 NEIL ROAD CITY: RENO STATE: NV ZIP: 89511 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIERRA PACIFIC POWER CO CENTRAL INDEX KEY: 0000090144 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 880044418 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-00508 FILM NUMBER: 071278638 BUSINESS ADDRESS: STREET 1: 6100 NEIL RD STREET 2: P O BOX 10100 CITY: RENO STATE: NV ZIP: 89520-0400 BUSINESS PHONE: 7758344011 MAIL ADDRESS: STREET 1: 6100 NEIL ROAD STREET 2: P.O. BOX 10100 CITY: RENO STATE: NV ZIP: 89520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEVADA POWER CO CENTRAL INDEX KEY: 0000071180 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 880045330 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-52378 FILM NUMBER: 071278639 BUSINESS ADDRESS: STREET 1: 6226 W SAHARA AVE CITY: LAS VEGAS STATE: NV ZIP: 89146 BUSINESS PHONE: 7023675000 MAIL ADDRESS: STREET 1: P O BOX 98910 CITY: LAS VEGAS STATE: NV ZIP: 89151 FORMER COMPANY: FORMER CONFORMED NAME: SOUTHERN NEVADA POWER CO DATE OF NAME CHANGE: 19701113 8-K 1 form8-k.htm FORM 8-K form8-k.htm

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported) November 28, 2007
 
 
 
 
 
 
 
Registrant, State of Incorporation, Address of
 
I.R.S. Employer
Commission File
 
Principal Executive Offices and Telephone
 
Identification
Number
 
Number
 
Number
 
 
 
 
 
1-08788
 
SIERRA PACIFIC RESOURCES
 
88-0198358
 
 
Nevada
 
 
 
 
P.O. Box 10100 (6100 Neil Road)
 
 
 
 
Reno, Nevada 89520-0400 (89511)
 
 
 
 
(775) 834-4011
 
 
 
 
 
 
 
2-28348
 
NEVADA POWER COMPANY
 
88-0420104
 
 
Nevada
 
 
 
 
6226 West Sahara Avenue
 
 
 
 
Las Vegas, Nevada 89146
 
 
 
 
(702) 367-5000
 
 
 
 
 
 
 
0-00508
 
SIERRA PACIFIC POWER COMPANY
 
88-0044418
 
 
Nevada
 
 
 
 
P.O. Box 10100 (6100 Neil Road)
 
 
 
 
Reno, Nevada 89520-0400 (89511)
 
 
 
 
(775) 834-4011
 
 
None

(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
o
 
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
 
 
o
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
o
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 





Sierra Pacific Resources and Sierra Pacific Power Company
 
           On November 28, 2007, Sierra Pacific Power Company (SPPC), a wholly-owned subsidiary of Sierra Pacific Resources (SRP), received an order from the Public Utility Commission of Nevada (PUCN) approving recovery of $2.8 million of the requested $22.6 million for settlement payments and legal and consulting fees incurred to resolve claims related to purchase power contracts that were executed during the Western Energy Crisis and terminated by Enron Power Marketing, Inc. in 2002.  As a result of this order and the recognition of legal reserves and other adjustments in prior periods, SPPC will record a net after-tax expense of $7.4 million in the fourth quarter of 2007.  The recovery period was not established in this proceeding but will be determined by the PUCN in a later docket.  The PUCN also granted a carrying charge on the amount approved for recovery.
 
 
Sierra Pacific Resources and Nevada Power Company
 
            On November 28, 2007, Nevada Power Company (NPC), a wholly-owned subsidiary of Sierra Pacific Resources (SPR), announced its plan to build a 500 MW natural gas-fired combined cycle plant as an expansion to its Harry Allen Generating Station, approximately 35 miles north of Las Vegas.  The facility, subject to approval by the Public Utilities Commission of Nevada, is expected to be operational by the summer of 2011.
 
A copy of the press release announcing the plan is filed herewith as Exhibit 99.1.
 
This disclosure 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 regulatory approvals and permits, risks related to construction of power plants, 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2007 and its Annual Report on Form 10-K for the year ended December 31, 2006, 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.
 
 
 
 
(c) Exhibits — The following exhibit is filed with this Form 8-K:

EX-99.1 - Press Release dated November 28, 2007.
 



     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have each duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.


 
 
 
 
 
 
Sierra Pacific Resources
(Registrant)
 
 
Date: November 30, 2007 
By:  
/s/ John E. Brown  
 
 
 
John E. Brown 
 
 
 
Controller 
 
 
 
 
Nevada Power Company
(Registrant)
 
 
Date: November 30, 2007 
By:  
/s/ John E. Brown  
 
 
 
John E. Brown 
 
 
 
Controller 
 
 
 
 
Sierra Pacific Power Company
(Registrant)
 
 
Date: November 30, 2007 
By:  
/s/ John E. Brown  
 
 
 
John E. Brown 
 
 
 
Controller 
 

 
 EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 exhibit99-1.htm

 
LAS VEGAS--(BUSINESS WIRE)--Nov. 28, 2007--Nevada Power Company, a wholly owned subsidiary of Sierra Pacific Resources (NYSE: SRP), today announced that it plans to build a 500 MW natural gas-fired combined cycle plant as an expansion to its Harry Allen Generating Station approximately 35 miles north of Las Vegas. The facility, subject to approval by the Public Utilities Commission of Nevada (PUCN), is expected to be operational by the summer of 2011.
 
Michael Yackira, president and chief executive officer of Sierra Pacific Resources, said the decision to move forward with the Harry Allen expansion at this time is due to the need to assure electric reliability in southern Nevada.
 
"Our decision to move ahead with this project was largely based on uncertainties related to the timing for the opening of our Ely Energy Center in eastern Nevada," Yackira said. "Because of the current permitting schedule, it is unlikely that our original plans to have the first 750 MW phase of Ely operational by late 2011 can be met. We were required, therefore, to move forward earlier than anticipated with a new, highly efficient natural gas plant to assure continued reliable electric service in southern Nevada."
 
Yackira pointed out that this plant had been contemplated to be built after the Ely Energy Center was fully operational and the current timing for Ely now requires the company to accelerate its plans to build this facility at the Harry Allen site.
 
"This decision is consistent with our long-term strategy to become more self-sufficient by building power plants in Nevada for Nevadans," Yackira said. "It is in the best interests of our state, our customers and the company to help assure adequate supplies of electricity so that our state is less susceptible to the price volatility of the open market."
 
Yackira added, "Our state and its utilities will continue to be among the most rapidly growing in the nation and we must take steps to provide reliable electricity supplies at the most reasonable prices possible."
 
Nevada Power Company is a regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy in the southern Nevada communities of Las Vegas, North Las Vegas, Henderson, Searchlight, Laughlin and their adjoining areas. The Company also provides electricity to Nellis Air Force Base, the Department of Energy at Mercury and Jackass Flats at the Nevada Test Site. Nevada Power Company provides electricity to approximately 815,000 residential and business customers in a 4,500 square mile service area.
 
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.
 
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 regulatory approvals and permits, risks related to construction of power plants, 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2007 and its Annual Report on Form 10-K for the year ended December 31, 2006, 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.
 
CONTACT: Sierra Pacific Resources
Andrea Smith, 702-367-5843 (Media)
Britta Carlson, 702-367-5624 (Analyst)
 
SOURCE: Sierra Pacific Resources
 
 

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