Exhibit 12.1

Nevada Power Company

	Three Months Ended March 31,						Year Ended December 31,
	2007			2006			2006			2005			2004			2003			2002
							Amounts in 000’s
EARNINGS AS DEFINED:
Income (Loss) From Continuing Operations     After Interest Charges	$	4,582		$	(3,296	)	$	224,540		$	132,734		$	104,312		$	19,277		$	(235,070	)
Income Taxes		2,366			(1,686	)		117,510			63,995			56,572			(614	)		(131,784	)
Income (Loss) From Continuing Operations     before Income Taxes		6,948			(4,982	)		342,050			196,729			160,884			18,663			(366,854	)
Fixed Charges		47,140			47,081			190,333			159,776			145,055			195,342			137,968
Capitalized Interest- (allowance for borrowed funds used during construction)		(2,550	)		(5,372	)		(11,614	)		(23,187	)		(5,738	)		(2,700	)		(3,412	)
Total	$	51,538		$	36,727		$	520,769		$	333,318		$	300,201		$	211,305		$	(232,298	)
FIXED CHARGES AS DEFINED:
Interest Expensed and Capitalized (1)	$	47,140		$	47,081		$	190,333		$	159,776		$	145,055		$	195,342		$	137,968
Total	$	47,140		$	47,081		$	190,333		$	159,776		$	145,055		$	195,342		$	137,968
RATIO OF EARNINGS TO FIXED CHARGES		1.09			—			2.74			2.09			2.07			1.08			—
DEFICIENCY	$	—		$	10,354		$	—		$	—		$	—		$	—		$	370,266

(1) Includes amortization of premiums, discounts, and capitalized debt expense and interest component of rent expense.