8-K

UNITED STATES
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) February 10, 2005

	Registrant, State of Incorporation, Address of
Commission File	Principal Executive Offices and Telephone	I.R.S. employer
Number	Number	Identification Number
1-08788	SIERRA PACIFIC RESOURCES	88-0198358
	P.O. Box 10100 (6100 Neil Road)
	Reno, Nevada 89520-0400 (89511)
	(775) 834-4011
2-28348	NEVADA POWER COMPANY	88-0420104
	6226 West Sahara Avenue
	Las Vegas, Nevada 89146
	(702) 367-5000
0-508	SIERRA PACIFIC POWER COMPANY	88-0044418
	P.O. Box 10100 (6100 Neil Road)
	Reno, Nevada 89520-0400 (89511)
	(775) 834-4011

None

(Former name, former address and former fiscal year, 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

	Item 5.02 Departure of Directors or Principal Officers; Appointment of Principal Officers
	Item 8.01 Other Events
	Item 9.01 Financial Statements and Exhibits
Signatures
Exhibit Index
EX-99.1 PRESS RELEASE ISSUED FEBRUARY 11, 2005
EX-99.2 PRESS RELEASE ISSUED FEBRUARY 10, 2005

Section 5—Corporate Governance and Management

Item 5.02 Departure of Directors or Principal Officers; Appointment of Principal Officers

(a)	Not required
(b)	Not required
(c)	Not required
(d)	On February 11, 2005, Sierra Pacific Resources issued a press release announcing that Joseph B. Anderson, Jr. has been elected to its board of directors. Anderson also joins the boards of Sierra Pacific Resources’ two utility subsidiaries, Sierra Pacific Power Company and Nevada Power Company. Anderson’s term as a Sierra Pacific Resources director will run until the May 2005 annual meeting of the corporation. A copy of the press release is attached as Exhibit 99.1 hereto.

Section 8—Other Events

Item 8.01 Other Events

     On February 10, 2005, Sierra Pacific Resources issued a press release announcing that its subsidiary, Nevada Power Company, the Colorado River Commission (“CRC”) and the Southern Nevada Water Authority (“SNWA”) have agreed to work under a cooperative business accord. Subject to approval by the entities’ respective boards and certain governmental authorities, the accord will allow Nevada Power Company, CRC and SNWA to collaborate on mutually beneficial initiatives while focusing on their primary missions of providing reliable electricity and water supplies for their customers. The accord also resolves outstanding issues and litigation among the entities. A copy of the press release is attached as Exhibit 99.2 hereto.

Section 9—Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(a)	Financial Statements of Business Acquired
	Not required
(b)	Pro forma financial information
	Not required
(c)	Exhibits
	99.1  Press Release issued February 11, 2005.
	99.2  Press Release issued February 10,2005.

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.

	Sierra Pacific Resources (Registrant)
Date: February 11, 2005	By:	/s/ John E. Brown
		John E. Brown
		Vice President and Controller

	Nevada Power Company (Registrant)
Date: February 11, 2005	By:	/s/ John E. Brown
		John E. Brown
		Vice President and Controller

	Sierra Pacific Power Company (Registrant)
Date: February 11, 2005	By:	/s/ John E. Brown
		John E. Brown
		Vice President and Controller

Exhibit Index

99.1 — Press Release issued February 11, 2005.

99.2 — Press Release issued February 10, 2005.

EX-99.1

Exhibit 99.1

Sierra Pacific Resources Elects Joseph B. Anderson, Jr. to Board of Directors

Las Vegas, Nev. — Sierra Pacific Resources (NYSE: SRP) today announced that Joseph B. Anderson, Jr. has been elected to its board of directors, effective immediately. Anderson also joins the boards of Sierra Pacific’s two utility subsidiaries, Sierra Pacific Power Company and Nevada Power Company.

Anderson, 61, is chairman and chief executive officer of Michigan-based TAG Holdings Companies, which owns controlling interests in a diverse range of manufacturing and service-related enterprises in the United States and Asia.

“Joe Anderson’s leadership skills, and his business and professional background will be assets in helping guide our company,” said Walter Higgins, chairman and chief executive officer of Sierra Pacific Resources. “In addition to a highly-decorated and distinguished military career, Joe brings to us a broad range of business experience that includes diversified management assignments over 13 years with General Motors.”

A 1965 graduate of the United States Military Academy, Anderson was the recipient of two silver stars, five bronze stars, three Army Commendation medals and 11 Air medals while commanding troops as an infantry officer in the 82nd Airborne Division and serving two tours of duty with the 1st Cavalry Division in Vietnam. The platoon he led in Vietnam was the subject of a documentary film, “The Anderson Platoon,” which won several awards including the Oscar at the Academy Awards and an Emmy for “Best Documentary Film of 1967.” In addition to troop commands, he was an aide-de-camp to two generals and an assistant professor in the Department of Social Sciences at West Point. He resigned his commission as a Lt. Colonel in 1978.

Anderson also served as a special assistant to Secretary of Commerce Juanita Kreps before joining General Motors in 1979. During his tenure at GM, his assignments included plant management as well as serving as a business unit director. He left GM to become president and chief executive officer of Composite Energy Management Systems Incorporated. In 1994 he acquired a controlling interest in Chivas Products Limited, Trim, Lighting and Plastics operations. In 1997 the company was restructured as Chivas Industries, L.L.C. where Anderson served as chairman of the board and chief executive officer until 2002.

He also serves on the board of directors for two other publicly traded companies, Quaker Chemical Corporation and ArvinMeritor, Inc. He is currently chairman of the board of the Original Equipment Suppliers Association; a director of the Society of Automotive Engineers Foundation; on the executive committee of the National Association of Black Automotive Suppliers; and on the board of governors of the Center for Creative Leadership. He is involved in numerous other community service activities.

In addition to his West Point education, Anderson earned two masters degrees from the University of California at Los Angeles (1972 and 1973) and graduated from the Harvard Advanced Management Program in 1984.

Anderson’s term as a Sierra Pacific Resources director will run until the May 2005 annual meeting of the corporation.

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. Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns 50 percent interest in an interstate natural gas transmission partnership and several unregulated energy services companies.

EX-99.2

Exhibit 99.2

Nevada Power Company, Colorado River Commission and Southern
Nevada Water Authority Announce Cooperative Business Accord

Action Expected to Benefit Customers Locally and Statewide

Las Vegas – February 10, 2005 — Nevada Power Company and its parent company Sierra Pacific Resources (NYSE: SRP), the Colorado River Commission (CRC) and the Southern Nevada Water Authority (SNWA) have agreed to work under a cooperative business accord, officials announced today. The agreement will not affect any of the entities’ autonomy, but rather will provide more reliability, efficiency and value in the delivery of essential water and power services to the public.

Subject to approval by the entities’ respective boards and certain governmental authorities, the accord will allow Nevada Power, CRC and SNWA to collaborate on mutually beneficial initiatives while focusing on their primary missions of providing reliable electricity and water supplies for their customers. It also resolves outstanding issues among the entities.

“Having reliable water and power supplies is critical to this community’s continued prosperity,” said Rory Reid, Clark County Commission chairman and SNWA vice chair.
“This accord allows the entities involved to capitalize on the kinds of things they should be doing together to maximize value to their organizations and the community.”

“This agreement not only provides immediate and future opportunities that could benefit our customers, but also allows each of our organizations to more fully concentrate on what we do best,” said Walter Higgins, chairman and chief executive officer of both Nevada Power and Sierra Pacific Resources. “Water and power are often interdependent and we can meld these dependencies for the benefit of all.”

“Nowhere in the country is the power and water more critical than in the desert,” said

Patricia Mulroy, general manager of SNWA. “The economic prosperity and sustainability of this community are absolutely dependent on the success of these organizations. For the good of the community, for the good of the state, the time is now for a renewed business relationship.”

“This accord is the result of selfless commitment to collaboration on the part of all of the participants who looked beyond what has been to what can be,” said Richard Bunker, chairman, Colorado River Commission.

Highlights of the cooperative agreement include:

•   Nevada Power will enter into a long-term agreement to operate SNWA’s interest in Silverhawk Power Plant, located 35 miles northeast of Las Vegas. In exchange, the SNWA will receive a firm energy supply at a predictable price. SNWA will retain its 25 percent ownership in the plant;

•   Nevada Power will provide energy scheduling and balancing services to the SNWA and CRC;

•   Nevada Power, CRC and SNWA will work together to develop needed electric facilities for new water facilities, as well as on water resources required for electric generation;

•   Nevada Power will collaborate with the SNWA to facilitate requested energy load departures for the SNWA and its member agencies under existing law.-

•   CRC will continue to focus on managing state hydropower resources, managing energy activities for its existing customers and continuing its role in water matters regarding the Colorado River.

•   Regular meetings involving senior management of the three organizations will be held to communicate and coordinate issues among the parties.

The SNWA is a regional agency that manages water conservation, water quality and water resources. Member agencies are: Big Bend Water District (Laughlin), the cities of Las Vegas, North Las Vegas, Henderson and Boulder City, the Clark County Water Reclamation District and the Las Vegas Valley Water District.

The Colorado River Commission is a state agency responsible for acquisition, management and protection of all of Nevada’s water and hydropower resources from the

Colorado River and for meeting the electric power needs of its wholesale and retail customers.

Nevada Power Company, a wholly owned subsidiary of Sierra Pacific Resources, is a regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy in southern Nevada. The company provides electricity to approximately 725,000 residential and business customers in a 4,500-square-mile service area.

Forward-Looking Statements: This press release contains forward-looking statements regarding the future performance of Sierra Pacific Resources and one of its subsidiaries, 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. For Sierra Pacific Resources, these risks and uncertainties include, but are not limited to, Sierra Pacific Resources’ ability to receive dividends from its subsidiaries in the near future and the financial performance of the Company’s subsidiaries, particularly Nevada Power Company. For Nevada Power Company these risks and uncertainties include, but are not limited to, adverse decisions in pending or future litigation, unfavorable rulings in Nevada Power’s future rate cases, Nevada Power’s ability to access the capital markets for construction and capital costs and general corporate purposes, and its ability to purchase sufficient power to meet power demands. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Sierra Pacific Resources and Nevada Power Company are contained in their Quarterly Reports on Form 10-Q for the quarter ended September 30, 2004 and their Annual Reports on Form 10-K for the year ended December 31, 2003, filed with the SEC. The Companies 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.