8-K

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) October 25, 2010

	Registrant, Address of	I.R.S. Employer
	Principal Executive Offices	Identification	State of
Commission File Number	and Telephone Number	Number	Incorporation
1-08788	NV ENERGY, INC.	88-0198358	Nevada
	6226 West Sahara Avenue
	Las Vegas, Nevada 89146
	(702) 402-5000
2-28348	NEVADA POWER COMPANY d/b/a	88-0420104	Nevada
	NV ENERGY
	6226 West Sahara Avenue
	Las Vegas, Nevada 89146
	(702) 402-5000
0-00508	SIERRA PACIFIC POWER COMPANY d/b/a NV ENERGY	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))

TABLE OF CONTENTS

 EX-99.1 Press Release dated October 25, 2010

 EX-99.2 Supplemental Slides dated October 25, 2010

Item 2.02 Results of Operations and Financial Condition

     On October 25, 2010, NV Energy, Inc. and its two utility subsidiaries, Nevada Power Company (d/b/a NV Energy) and Sierra Pacific Power Company (d/b/a NV Energy), issued a press release disclosing financial results for the quarter ended September 30, 2010. The text of the release is furnished herewith as Exhibit 99.1.

Item 7.01 Regulation FD Disclosure

     In addition to the earnings press release on October 25, 2010 discussed in Item 2.02 above, NV Energy, Inc. and its two utility subsidiaries, Nevada Power Company (d/b/a NV Energy) and Sierra Pacific Power Company (d/b/a NV Energy), posted supplemental slides containing additional financial information about the companies to its website, www.nvenergy.com. A copy of these supplemental slides is furnished herewith as Exhibit 99.2.

     The information contained in this Form 8-K, including the exhibits attached hereto, is being furnished and shall not be deemed “filed” for the purpose of section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits — The following exhibits are furnished with this Form 8-K:

     EX-99.1 — Press Release dated October 25, 2010.

     EX-99.2 — Supplemental Slides dated October 25, 2010.

SIGNATURES

     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.

	NV Energy, Inc.        (Registrant)
Date: October 25, 2010	By:	/s/ E. Kevin Bethel
		E. Kevin Bethel
		Chief Accounting Officer

	Nevada Power Company d/b/a NV Energy        (Registrant)
Date: October 25, 2010	By:	/s/ E. Kevin Bethel
		E. Kevin Bethel
		Chief Accounting Officer

	Sierra Pacific Power Company d/b/a NV Energy        (Registrant)
Date: October 25, 2010	By:	/s/ E. Kevin Bethel
		E. Kevin Bethel
		Chief Accounting Officer

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE
October 25, 2010	Analyst Contact: Britta Carlson, (702) 402-5624
	Media Contact: Karl Walquist, (775) 834-3891

NV Energy, Inc., Reports Third Quarter Earnings

Las Vegas — NV Energy, Inc. (NYSE: NVE) today announced consolidated net income of $182.7 million, or 78 cents per share, for the quarter ended September 30, 2010, compared with consolidated net income of $182.6 million, or 78 cents per share, for the same period in 2009.

During the first nine months of 2010, the company earned $218 million, or 93 cents per share, compared with $178.8 million, or 76 cents per share, for the same period in 2009.

“We are pleased with our third-quarter earnings especially in light of the slower growth in Nevada,” said Michael Yackira, President and Chief Executive Officer of NV Energy, Inc. “We continue to focus on controllable costs and operational efficiencies in the implementation of our three-part energy strategy.”

Webcast Scheduled for 7 a.m. PDT today, Monday, October 25, 2010

Senior management of NV Energy will review the company’s 2010 third quarter financial results and other matters during a conference call and live webcast today, Monday, October 25, at 7 a.m. Pacific Daylight Time.

The webcast will be accessible on the NV Energy website:

www.nvenergy.com.

An archived version of the webcast will remain on the NV Energy website for approximately one month following the live webcast. To listen to a recording of the call by telephone, call (800) 475-6701, and international callers should dial (320) 365-3844. Use the conference call access code, 174045, to listen to the recording.

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.

This press release may contain forward-looking statements regarding the future performance of NV Energy, Inc. and its subsidiaries, Nevada Power Company and Sierra Pacific Power Company both 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, NV Energy Inc.’s ability to maintain access to the capital markets,

P.O. BOX 98910, LAS VEGAS, NEVADA 89151-0001 6226 WEST SAHARA AVENUE, LAS VEGAS, NEVADA 89146
P.O. BOX 30150, RENO, NEVADA 89520-3150 6100 NEIL ROAD, RENO, NEVADA 89511 nvenergy.com

NV Energy Inc.’s ability to receive dividends from its subsidiaries, the financial performance of NV Energy Inc.’s subsidiaries, particularly Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, and the discretion of NV Energy Inc.’s Board of Directors with respect to the payment of future dividends based on its periodic review of factors that ordinarily affect dividend policy, such as current and prospective financial condition, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in NV Energy Inc.’s and its subsidiaries’ financing agreements. For Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, these risks and uncertainties include, but are not limited to, future economic conditions both nationally and regionally, changes in the rate of industrial, commercial and residential growth in their service territories, their ability to procure sufficient renewable energy sources in each compliance year to satisfy the Nevada Renewable Energy Portfolio Standard, changes in environmental laws and regulations, construction risks, their ability to maintain access to the capital markets for general corporate purposes and to finance construction projects, employee workforce factors, including changes in and renewals of collective bargaining agreements, strikes or work stoppages, unseasonable weather, drought, threat of wildfire and other natural phenomena, explosions, fires, accidents, mechanical breakdowns that may occur while operating and maintaining an electric and natural gas system, their ability to purchase sufficient fuel, natural gas and power to meet their power demands and natural gas demands for Sierra Pacific Power Company d/b/a NV Energy, financial market conditions, and unfavorable rulings in their pending and future regulatory filings. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy are contained in their quarterly reports on Form 10-Q for the quarters ended March 31, 2010 and June 30, 2010, and their Annual Reports on Form 10-K and 10-K/A for the year ended December 31, 2009, each filed with the SEC. NV Energy Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy undertake 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.

2

NV ENERGY, INC.

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands, Except Per Share Amounts)

(unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
OPERATING REVENUES	$	1,131,561		$	1,219,007		$	2,633,891		$	2,812,915
OPERATING EXPENSES:
Fuel for power generation		247,233			250,085			650,514			684,474
Purchased power		249,854			313,828			522,538			634,185
Gas purchased for resale		10,823			11,269			101,536			101,457
Deferred energy		34,055			75,843			106,554			215,055
Other operating expenses		116,263			107,992			329,435			332,555
Maintenance		23,126			20,187			77,715			82,219
Depreciation and amortization		83,423			82,541			249,067			240,912
Taxes other than income		15,420			15,177			47,532			43,577
Total Operating Expenses		780,197			876,922			2,084,891			2,334,434
OPERATING INCOME		351,364			342,085			549,000			478,481
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $6,485, $3,679, $17,349 and $15,847)		(80,789	)		(84,804	)		(241,625	)		(250,996	)
Interest income (expense) on regulatory items		(3,685	)		(1,799	)		(8,753	)		(873	)
AFUDC-equity		7,824			4,327			20,915			19,093
Other income		9,246			7,749			30,524			31,209
Other expense		(4,313	)		(2,387	)		(17,038	)		(17,425	)
Total Other Income (Expense)		(71,717	)		(76,914	)		(215,977	)		(218,992	)
Income Before Income Tax Expense		279,647			265,171			333,023			259,489
Income tax expense		96,901			82,525			115,052			80,704
NET INCOME	$	182,746		$	182,646		$	217,971		$	178,785
Amount per share basic and diluted — (Note 9)
Net income per share — basic	$	0.78		$	0.78		$	0.93		$	0.76
Net income per share — diluted	$	0.77		$	0.78		$	0.92		$	0.76
Weighted Average Shares of Common Stock Outstanding — basic		235,117,058			234,629,761			234,991,208			234,479,605
Weighted Average Shares of Common Stock Outstanding — diluted		236,477,187			235,368,919			236,136,725			235,025,554
Dividends Declared Per Share of Common Stock	$	0.11		$	0.10		$	0.33		$	0.30

3

NEVADA POWER COMPANY

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands)

(unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
OPERATING REVENUES	$	872,986		$	933,520		$	1,840,745		$	1,945,818
OPERATING EXPENSES:
Fuel for power generation		181,100			160,960			469,282			455,355
Purchased power		216,309			288,248			412,276			541,746
Deferred energy		22,296			46,911			81,719			144,910
Other operating expenses		75,798			68,521			208,374			206,771
Maintenance		15,707			12,014			50,945			58,280
Depreciation and amortization		56,575			54,996			169,330			160,869
Taxes other than income		9,038			8,970			28,857			26,394
Total Operating Expenses		576,823			640,620			1,420,783			1,594,325
OPERATING INCOME		296,163			292,900			419,962			351,493
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $5,787, $2,815, $15,763 and $13,483)		(54,144	)		(58,355	)		(161,496	)		(170,535	)
Interest income (expense) on regulatory items		(1,157	)		248			(1,965	)		2,891
AFUDC-equity		6,795			3,385			18,555			16,558
Other income		3,842			3,776			9,084			18,726
Other expense		(3,034	)		(1,537	)		(9,338	)		(12,335	)
Total Other Income (Expense)		(47,698	)		(52,483	)		(145,160	)		(144,695	)
Income Before Income Tax Expense		248,465			240,417			274,802			206,798
Income tax expense		84,337			76,826			93,216			65,857
NET INCOME	$	164,128		$	163,591		$	181,586		$	140,941

4

SIERRA PACIFIC POWER COMPANY

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands)

(unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
OPERATING REVENUES:
Electric	$	239,284		$	265,734		$	653,416		$	734,386
Gas		19,286			19,745			139,711			132,686
Total Operating Revenues		258,570			285,479			793,127			867,072
OPERATING EXPENSES:
Fuel for power generation		66,133			89,125			181,232			229,119
Purchased power		33,545			25,580			110,262			92,439
Gas purchased for resale		10,823			11,269			101,536			101,457
Deferral of energy — electric — net		9,964			26,646			17,189			68,222
Deferral of energy — gas — net		1,795			2,286			7,646			1,923
Other operating expenses		39,490			38,843			118,450			123,748
Maintenance		7,419			8,173			26,770			23,939
Depreciation and amortization		26,848			27,545			79,737			80,043
Taxes other than income		6,330			6,162			18,494			17,046
Total Operating Expenses		202,347			235,629			661,316			737,936
OPERATING INCOME		56,223			49,850			131,811			129,136
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $698, $864, $1,586 and $2,364)		(16,983	)		(16,787	)		(51,141	)		(51,473	)
Interest income (expense) on regulatory items		(2,528	)		(2,047	)		(6,788	)		(3,764	)
AFUDC-equity		1,029			942			2,360			2,535
Other income		2,379			3,792			14,276			12,299
Other expense		(1,285	)		(813	)		(7,555	)		(4,601	)
Total Other Income (Expense)		(17,388	)		(14,913	)		(48,848	)		(45,004	)
Income Before Income Tax Expense		38,835			34,937			82,963			84,132
Income tax expense		14,373			10,671			30,066			25,926
NET INCOME	$	24,462		$	24,266		$	52,897		$	58,206

5

Gross margin is presented by Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy in order to provide information by segment that management believes aids the reader in determining how profitable the electric and gas business is at the most fundamental level. Gross margin, which is a “non-GAAP financial measure” as defined in accordance with SEC rules, provides a measure of income available to support the other operating expenses of the business and is utilized by management in its analysis of its business.

Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy believe presenting gross margin allows the reader to assess the impact of regulatory treatment and their overall regulatory environment on a consistent basis. Gross margin, as a percentage of revenue, is primarily impacted by the fluctuations in regulated electric and natural gas supply costs versus the fixed rates collected from customers. While these fluctuating costs impact gross margin as a percentage of revenue, they only impact gross margin amounts if the costs cannot be passed through to customers. Gross margin, which Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy calculate as operating revenues less energy costs, provides a measure of income available to support the other operating expenses. Gross margin changes based on such factors as general base rate adjustments (which are required to be filed by statute every three years) and reflect Nevada Power Company and Sierra Pacific Power Company’s both d/b/a NV Energy strategy to increase internal power generation versus purchased power, which generates no gross margin. Reconciliations between GAAP operating revenues and gross margin are provided in tables herein. These non-GAAP measures should not be considered as substitutes for the GAAP measures.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Gross Margin
(Dollars in Thousands)
(Unaudited)

	Three Months Ended				% Change			Nine Months Ended				% Change
	September 30,				from Prior			September 30,				from Prior
Nevada Power Company	2010		2009		Year			2010		2009		Year
Operating Revenues	$	872,986	$	933,520		-6.5	%	$	1,840,745	$	1,945,818		-5.4	%
Energy Costs:
Fuel for power generation		181,100		160,960					469,282		455,355
Purchased Power		216,309		288,248					412,276		541,746
Deferred energy — net		22,296		46,911					81,719		144,910
	$	419,705	$	496,119		-15.4	%	$	963,277	$	1,142,011		-15.7	%
Gross Margin	$	453,281	$	437,401		3.6	%	$	877,468	$	803,807		9.2	%
Other operating expenses		75,798		68,521					208,374		206,771
Maintenance		15,707		12,014					50,945		58,280
Depreciation and amortization		56,575		54,996					169,330		160,869
Taxes other than income		9,038		8,970					28,857		26,394
Operating Income	$	296,163	$	292,900		1.1	%	$	419,962	$	351,493		19.5	%

6

	Three Months Ended				% Change			Nine Months Ended				% Change
	September 30,				from Prior			September 30,				from Prior
Sierra Pacific Power Company	2010		2009		Year			2010		2009		Year
Operating Revenues:
Electric	$	239,284	$	265,734				$	653,416	$	734,386
Gas		19,286		19,745					139,711		132,686
	$	258,570	$	285,479		-9.4	%	$	793,127	$	867,072		-8.5	%
Energy Costs:
Fuel for power generation		66,133		89,125					181,232		229,119
Purchased power		33,545		25,580					110,262		92,439
Gas purchased for resale		10,823		11,269					101,536		101,457
Deferred energy — electric		9,964		26,646					17,189		68,222
Deferred energy — gas		1,795		2,286					7,646		1,923
	$	122,260	$	154,906		-21.1	%	$	417,865	$	493,160		-15.3	%
Energy Costs by Segment:
Electric	$	109,642	$	141,351				$	308,683	$	389,780
Gas		12,618		13,555					109,182		103,380
	$	122,260	$	154,906		-21.1	%	$	417,865	$	493,160		-15.3	%
Gross Margin by Segment:
Electric	$	129,642	$	124,383				$	344,733	$	344,606
Gas		6,668		6,190					30,529		29,306
	$	136,310	$	130,573		4.4	%	$	375,262	$	373,912		0.4	%
Other operating expenses		39,490		38,843					118,450		123,748
Maintenance		7,419		8,173					26,770		23,939
Depreciation and amortization		26,848		27,545					79,737		80,043
Taxes other than income		6,330		6,162					18,494		17,046
Operating Income	$	56,223	$	49,850		12.8	%	$	131,811	$	129,136		2.1	%

7

Summary of Selected Operating Statistics

Nevada Power Company
Operating Revenues
(dollars in thousands)

	Three Months Ended				% Change			Nine Months Ended				% Change			Avg.
	September 30,				from Prior			September 30,				from Prior			Change in
	2010		2009		Year			2010		2009		Year			customers
Operating Revenues:
Residential	$	460,535	$	484,561		-5.0	%	$	899,423	$	939,488		-4.3	%		0.2	%
Commercial		132,176		148,504		-11.0	%		340,258		365,595		-6.9	%		0.8	%
Industrial		262,129		278,728		-6.0	%		550,518		578,661		-4.9	%		0.4	%
Retail revenues		854,840		911,793		-6.2	%		1,790,199		1,883,744		-5.0	%
Other		18,146		21,727		-16.5	%		50,546		62,074		-18.6	%
Total Operating Revenues	$	872,986	$	933,520		-6.5	%	$	1,840,745	$	1,945,818		-5.4	%
Retail sales in thousands of MW hs		7,208		7,197		0.2	%		16,255		16,626		-2.2	%

Sierra Pacific Power Company
Operating Revenues
(dollars in thousands)

	Three Months Ended				% Change			Nine Months Ended				% Change			Avg.
	September 30,				from Prior			September 30,				from Prior			Change in
	2010		2009		Year			2010		2009		Year			customers
Electric Operating Revenues:
Residential	$	82,146	$	93,594		-12.2	%	$	235,668	$	263,287		-10.5	%		0.1	%
Commercial		93,785		108,167		-13.3	%		252,402		296,671		-14.9	%		0.2	%
Industrial		51,738		56,328		-8.1	%		139,200		151,671		-8.2	%		-1.2	%
Retail revenues		227,669		258,089		-11.8	%		627,270		711,629		-11.9	%
Other		11,615		7,645		51.9	%		26,146		22,757		14.9	%
Total Revenues	$	239,284	$	265,734		-10.0	%	$	653,416	$	734,386		-11.0	%
Retail sales in thousands of MWhs		2,192		2,206		-0.6	%		6,075		6,128		-0.9	%

	Three Months Ended				% Change			Nine Months Ended				% Change			Avg.
	September 30,				from Prior			September 30,				from Prior			Change in
	2010		2009		Year			2010		2009		Year			customers
Gas Operating Revenues:
Residential	$	9,953	$	10,740		-7.3	%	$	72,699	$	74,410		-2.3	%
Commercial		4,617		4,913		-6.0	%		34,014		35,191		-3.3	%
Industrial		1,784		2,155		-17.2	%		11,228		11,779		-4.7	%
Retail revenues		16,354		17,808		-8.2	%		117,941		121,380		-2.8	%		0.8	%
Wholesale revenue		2,408		1,406		71.3	%		19,976		9,567		108.8	%
Miscellaneous		524		531		-1.3	%		1,794		1,739		3.2	%
Total Revenues	$	19,286	$	19,745		-2.3	%	$	139,711	$	132,686		5.3	%
Retail sales in thousands of decatherms		1,272		1,183		7.5	%		10,108		9,549		5.9	%

8

Financial Highlights
(Dollars in Thousands)
(Unaudited)

NV Energy, Inc
Capital Structure

	September 30, 2010				September 30, 2009
Current maturities of long-term debt	$	356,538	3.9	%	$	9,286	0.1	%
Long-term debt		5,313,407	58.8	%		5,549,052	63.0	%
Total Debt	$	5,669,945	62.7	%	$	5,558,338	63.1	%
Total shareholders’ equity		3,368,514	37.3	%		3,243,820	36.9	%
Total Capitalization (including current maturities of long-term debt)	$	9,038,459	100.0	%	$	8,802,158	100.0	%

Nevada Power Company
Capital Structure

	September 30, 2010				September 30, 2009
Current maturities of long-term debt	$	356,538	5.3	%	$	9,286	0.2	%
Long-term debt		3,546,724	53.2	%		3,701,308	57.8	%
Total Debt	$	3,903,262	58.5	%	$	3,710,594	58.0	%
Total shareholder’s equity		2,769,675	41.5	%		2,691,551	42.0	%
Total Capitalization (including current maturities of long-term debt)	$	6,672,937	100.0	%	$	6,402,145	100.0	%

Sierra Pacific Power Company
Capital Structure

	September 30, 2010				September 30, 2009
Current maturities of long-term debt	$	—	0.0	%	$	—	0.0	%
Long-term debt		1,281,138	55.8	%		1,362,002	57.8	%
Total Debt	$	1,281,138	55.8	%	$	1,362,002	57.8	%
Common shareholder’s equity		1,014,181	44.2	%		994,495	42.2	%
Total Capitalization (including current maturities of long-term debt)	$	2,295,319	100.0	%	$	2,356,497	100.0	%

NVE Available Liquidity as of September 30, 2010 (dollars in millions)

	NVE		NPC			SPPC
Cash and Cash Equivalents	$	19.6	$	265.7		$	93.0
Balance available on Revolving Credit Facilities		N/A		485.3			234.1
- Less reduction for hedging obligations		N/A		(51.8	)		(22.5	)
	$	19.6	$	699.2		$	304.6

9

EX-99.2

Exhibit 99.2

Earnings Conference Call Results for the 3rd Quarter 2010 Supplemental Slides October 25, 2010

Consolidated Gross Margin Variance Allocations For the three months ended September 2010 vs. 2009 (1) (dollars in thousands) $3,537 ($2,950) $17,823 $3,204 $21,614 16.4% (13.6%) 14.8% 82.4% 100.0% (1) Reference Non-GAAP reconciliation of Gross Margin on slide 8. (2) Other Margin includes revenues recorded for reduced kWh sales related to energy efficiency programs, transmission, Renewable Energy Program Rate, and other electric revenues.

Consolidated Gross Margin Variance Allocations For the nine months ended September 2010 vs. 2009 (1) (dollars in thousands) (1) Reference Non-GAAP reconciliation of Gross Margin on slide 9. $94,365 ($24,759) $3,506 $1,893 $75,005 125.8% (33.0%) 2.5% 4.7% 100.0% (2) Other Margin includes revenues recorded for reduced kWh sales related to energy efficiency programs, transmission, Renewable Energy Program Rate, and other electric revenues.

NV Energy South - Volume Sales (MWh) Note: Does not include Public Authorities and Street Lights

NV Energy North - Volume Sales (MWh) Note: Does not include Street Lights

Weather Trends Heating Degree Days & Cooling Degree Days

Average Residential Customer Growth For the three months ended September 30, 2010 (1) 0.4% 4.9% - -0.3% 1.4% - -0.1% 2.7% 2.7% 0.3% 0.3% 0.7% (1) Actual residential growth as compared to same period in prior year.

Reconciliation of Non-GAAP Financial Measures For the three months ended September 30, 2010 Gross Margin (dollars in thousands)

Reconciliation of Non-GAAP Financial Measures For the nine months ended September 30, 2010 Gross Margin (dollars in thousands)