Exhibit 99.1

FOR IMMEDIATE RELEASE

July 27, 2012

Analyst Contacts: Max Kuniansky, (702) 402-5627

Britta Carlson, (702) 402-5624

Media Contact: Karl Walquist, (775) 834-3891

NV Energy Second Quarter Results Benefit From Warmer Weather; Earnings Guidance Affirmed

Las Vegas – NV Energy, Inc. (NYSE: NVE) today announced financial results for the three- and six-month periods ended June 30, 2012.

NV Energy, Inc.

Consolidated Results

Periods Ended June 30

	Net Income ($ in millions)				EPS (diluted)
	2012		2011		2012		2011
Three Months	$	69.4	$	12.9	$	0.29	$	0.05
Six Months		81.6		15.2		0.34		0.06

“Our improved results in the second quarter were largely due to unusually warm weather, higher earnings associated with our investment in the Harry Allen Generating Station, and settlement proceeds,” said Michael Yackira, NV Energy president and chief executive officer. “Operating and maintenance expenses were virtually unchanged, reflecting the continued success of our cost control efforts. We have made investments over the past five years to reduce Nevada’s dependence on purchased power. This investment strategy has resulted in residential customer rates that are about the same as they were five years ago.”

The warmer weather increased results for the second quarter of 2012 by an estimated $0.11 per share compared to the second quarter of 2011 and by approximately $0.07 per share compared to historically normal conditions. Mild weather in the second quarter of 2011 had adversely affected earnings by about $0.04 per share compared with historically normal conditions. Cooling degree-days in southern Nevada in the second quarter of 2012 were 44 percent greater than the same period in 2011, and 23 percent greater than normal.

As previously disclosed, adjustments associated with a May 2011 regulatory decision reduced results for the second quarter of 2011 by $0.03 per share ($8.6 million pre-tax).

Earnings Guidance

As announced on May 8, 2012, NV Energy expects to earn between $1.15 and $1.25 per share for the year 2012. For the first half of 2012, earnings were $0.34 per share.

“Results for the first half of the year exceeded our expectations,” Yackira said. “With summer still underway and third quarter weather a key variable for full-year results, we are making no changes to our earnings guidance range for 2012 at present. However, assuming normal weather in the second half of the year, there is the potential for annual earnings to be at the upper end of the range.”

Key factors expected to drive financial results in 2012 and beyond are shown in the “Second Quarter 2012: Financial Results” presentation posted on www.nvenergy.com this morning. Management’s earnings expectations assume actual weather for the first half of 2012, normal weather for the remainder of the year, and other drivers listed in the presentation. The estimated impact of weather on earnings is based on assumed relationships between cooling and heating degree-days and demand, with normal conditions based on 20-year averages.

Webcast Scheduled for 7 a.m. PDT today, Friday, July 27, 2012

Senior management of NV Energy will review the company’s second quarter 2012 financial results and other matters during a conference call and live webcast today, Friday, July 27, at 7 a.m. Pacific Daylight Time.

The webcast will be accessible on the NV Energy website at: www.nvenergy.com.

A taped replay will be available on the company’s website and by telephone for approximately 30 days. To listen to the replay by telephone, call (800) 475-6701. International callers should dial (320) 365-3844. Use the conference call access code, 252400.

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 combined 45,592 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.

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 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. Forward-looking statements include earnings guidance and estimates or forecasts of operating and financial metrics. These statements reflect current expectations of future conditions and events and as such are subject to a variety of risks, uncertainties and assumptions that could cause actual results to differ materially from current expectations. These risks, uncertainties and assumptions include, but are not limited to, NV Energy Inc.’s ability to maintain access to the capital markets, 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, including but not limited to those associated with the ON Line project, their ability to maintain access to the capital markets for general corporate purposes and to finance construction projects, employee workforce factors, unseasonable weather, drought, 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. Further risks, uncertainties and assumptions that may cause actual results to differ from current expectations pertain to weather conditions, customer and sales growth, plant outages, operations and maintenance expense, depreciation and allowance for funds used during construction, interest rates and expense, cash flow and regulatory matters. 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 Annual Reports on Form 10-K for the year ended December 31, 2011, and quarterly reports on Form 10-Q for the period ended March 31, 2012, each filed with the Securities and Exchange Commission. 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.

NV ENERGY, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in Thousands, Except Per Share Amounts)

(Unaudited)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
OPERATING REVENUES	$	740,698		$	674,931		$	1,352,118		$	1,315,914
OPERATING EXPENSES:
Fuel for power generation		112,585			156,803			229,620			303,141
Purchased power		164,092			160,308			281,208			295,324
Gas purchased for resale		9,492			24,984			41,109			77,616
Deferred energy		10,490			(8,106	)		(1,249	)		(10,058	)
Energy efficiency program costs		24,600			—			44,025			—
Other operating expenses		103,371			97,547			206,972			203,521
Maintenance		24,650			32,186			57,176			61,948
Depreciation and amortization		96,316			89,606			187,178			172,708
Taxes other than income		14,266			14,684			28,775			30,929
Total Operating Expenses		559,862			568,012			1,074,814			1,135,129
OPERATING INCOME		180,836			106,919			277,304			180,785
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $1,908, $2,835, $3,503 and $9,045)		(74,564	)		(80,879	)		(152,495	)		(158,222	)
Interest income (expense) on regulatory items		(1,977	)		(1,379	)		(4,179	)		(2,267	)
AFUDC-equity		2,319			3,522			4,251			11,164
Other income		6,291			1,756			10,485			4,740
Other expense		(4,640	)		(9,087	)		(7,700	)		(13,743	)
Total Other Income (Expense)		(72,571	)		(86,067	)		(149,638	)		(158,328	)
Income Before Income Tax Expense		108,265			20,852			127,666			22,457
Income tax expense		38,826			7,964			46,054			7,239
NET INCOME		69,439			12,888			81,612			15,218
Other comprehensive income (loss):
Change in compensation retirement benefits liability and amortization (Net of taxes $(83), $(394), $(172) and $(1,009))		154			731			309			1,873
Change in market value of risk management assets and liabilities (Net of taxes $123, $0, $264 and $0)		(229	)		—			(475	)		—
OTHER COMPREHENSIVE INCOME (LOSS)		(75	)		731			(166	)		1,873
COMPREHENSIVE INCOME	$	69,364		$	13,619		$	81,446		$	17,091
Amount per share basic and diluted
Net income per share - basic	$	0.29		$	0.05		$	0.35		$	0.06
Net income per share - diluted	$	0.29		$	0.05		$	0.34		$	0.06
Weighted Average Shares of Common Stock Outstanding - basic		235,999,750			235,867,068			235,999,750			235,697,687
Weighted Average Shares of Common Stock Outstanding - diluted		237,903,276			237,278,546			237,715,070			237,027,656
Dividends Declared Per Share of Common Stock	$	0.17		$	0.12		$	0.30		$	0.24

NV ENERGY, INC.

CONSOLIDATED BALANCE SHEETS

(Dollars in Thousands, Except Share Amounts)

(Unaudited)

	June 30, 2012		December 31, 2011
ASSETS
Current Assets:
Cash and cash equivalents	$	122,768	$	145,944
Accounts receivable less allowance for uncollectible accounts: 2012 - $7,171; 2011 - $8,150		437,492		355,091
Materials, supplies and fuel, at average cost		146,454		129,663
Current income taxes receivable		—		82
Deferred income taxes		134,426		104,958
Other current assets		35,263		36,782
Total Current Assets		876,403		772,520
Utility Property:
Plant in service		12,025,938		11,923,717
Construction work-in-progress		617,591		487,427
Total		12,643,529		12,411,144
Less accumulated provision for depreciation		3,300,961		3,184,071
Total Utility Property, Net		9,342,568		9,227,073
Investments and other property, net		57,634		57,021
Deferred Charges and Other Assets:
Deferred energy		95,599		102,525
Regulatory assets		1,161,651		1,186,127
Regulatory asset for pension plans		209,698		215,656
Other deferred charges and assets		79,230		74,206
Total Deferred Charges and Other Assets		1,546,178		1,578,514
TOTAL ASSETS	$	11,822,783	$	11,635,128

(Continued)

NV ENERGY, INC.

CONSOLIDATED BALANCE SHEETS

(Dollars in Thousands, Except Share Amounts)

(Unaudited)

	June 30, 2012			December 31, 2011
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	8,054		$	139,985
Accounts payable		321,962			312,990
Accrued expenses		118,020			128,144
Deferred energy		245,126			245,164
Other current liabilities		72,034			65,572
Total Current Liabilities		765,196			891,855
Long-term debt		5,130,322			5,008,931
Commitments and Contingencies
Deferred Credits and Other Liabilities:
Deferred income taxes		1,367,358			1,306,510
Deferred investment tax credit		14,861			16,140
Accrued retirement benefits		97,258			92,351
Regulatory liabilities		521,731			486,259
Other deferred credits and liabilities		509,332			427,003
Total Deferred Credits and Other Liabilities		2,510,540			2,328,263
Shareholders’ Equity:
Common stock, $1.00 par value; 350 million shares authorized 235,999,75 issued and outstanding for 2012 and 2011		236,000			236,000
Other paid-in capital		2,713,736			2,713,736
Retained earnings		475,089			464,277
Accumulated other comprehensive loss		(8,100	)		(7,934	)
Total Shareholders’ Equity		3,416,725			3,406,079
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	11,822,783		$	11,635,128

(Concluded)

NV ENERGY, INC.

FREE CASH FLOW AND CONSOLIDATED OPERATING STATISTICS

(Unaudited)

FREE CASH FLOW
(dollars in thousands)
	Six Months Ended June 30,
	2012		2011			Change from Prior Year
Free Cash Flow*	$	31,104	$	(107,688	)		128.9	%

* Free cash flow is a non-GAAP financial measure as defined by the SEC. See the “Non-GAAP Financial Measures” section for additional information and GAAP reconciliation.

ELECTRIC SALES - MWh’s
(in thousands)
	Three Months Ended June 30,										Six Months Ended June 30,
	2012		2011		Change from Prior Year			Change in Average Customers			2012		2011		Change from Prior Year			Change in Average Customers
Residential		2,801		2,248		24.6	%		1.3	%		4,937		4,372		12.9	%		1.3	%
Commercial		1,873		1,760		6.4	%		0.3	%		3,490		3,330		4.8	%		—	%
Industrial		2,727		2,669		2.2	%		(2.0	)%		5,011		4,968		0.9	%		(2.3	)%
TOTAL RETAIL		7,401		6,677		10.8	%		1.2	%		13,438		12,670		6.1	%		1.1	%

GAS SALES - Dth
(in thousands)
	Three Months Ended June 30,							Six Months Ended June 30,
	2012		2011		Change from Prior Year			2012		2011		Change from Prior Year
Residential		1,263		1,718		(26.5	)%		4,970		5,680		(12.5	)%
Commercial		685		837		(18.2	)%		2,565		2,838		(9.6	)%
Industrial		247		316		(21.8	)%		723		887		(18.5	)%
TOTAL RETAIL		2,195		2,871		(23.5	)%		8,258		9,405		(12.2	)%

ELECTRIC SOURCES - MWh’s
(in thousands)
	Three Months Ended June 30,							Six Months Ended June 30,
	2012		2011		Change from Prior Year			2012		2011		Change from Prior Year
Generated		5,009		4,464		12.2	%		9,474		8,286		14.3	%
Purchased		3,046		2,822		7.9	%		5,083		5,504		(7.6	)%
TOTAL		8,055		7,286					14,557		13,790

DEGREE DAYS
	Three Months Ended June 30,												Six Months Ended June 30,
							% Change From												% Change From
	2012		2011		Normal*		Prior Year			Normal			2012		2011		Normal*		Prior Year			Normal
SOUTH
Heating		62		85		77		(27.1	)%		(19.5	)%		986		1,131		1,112		(12.8	)%		(11.3	)%
Cooling		1,417		985		1,153		43.9	%		22.9	%		1,458		1,017		1,181		43.4	%		23.5	%
NORTH
Heating		548		883		715		(37.9	)%		(23.4	)%		2,676		3,198		2,943		(16.3	)%		(9.1	)%
Cooling		235		112		179		109.8	%		31.3	%		235		112		179		109.8	%		31.3	%

* Normal = 20-year average

NEVADA POWER COMPANY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in Thousands)

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
OPERATING REVENUES	$	553,143		$	473,898		$	948,831		$	863,966
OPERATING EXPENSES:
Fuel for power generation		81,258			114,744			161,807			215,814
Purchased power		135,276			122,408			216,807			217,974
Deferred energy		5,053			2,350			7,224			9,080
Energy efficiency program costs		21,200			—			36,974			—
Other operating expenses		68,650			61,935			135,112			127,036
Maintenance		16,988			19,325			40,061			41,662
Depreciation and amortization		69,131			61,913			134,121			119,586
Taxes other than income		8,596			9,046			17,050			19,104
Total Operating Expenses		406,152			391,721			749,156			750,256
OPERATING INCOME		146,991			82,177			199,675			113,710
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $1,314, $2,330, $2,493 and $8,120)		(52,602	)		(55,736	)		(107,007	)		(107,769	)
Interest income (expense) on regulatory items		(1,849	)		126			(3,865	)		761
AFUDC-equity		1,577			2,855			2,990			9,953
Other income		5,392			568			7,101			2,114
Other expense		(2,993	)		(5,179	)		(4,339	)		(7,911	)
Total Other Expense		(50,475	)		(57,366	)		(105,120	)		(102,852	)
Income Before Income Tax Expense		96,516			24,811			94,555			10,858
Income tax expense		34,219			8,748			33,574			3,815
NET INCOME		62,297			16,063			60,981			7,043
Other comprehensive income:
Change in compensation retirement benefits liability and amortization (Net of taxes $(38), $(108), $(70) and $(513))		64			200			127			953
COMPREHENSIVE INCOME	$	62,361		$	16,263		$	61,108		$	7,996

NEVADA POWER COMPANY

CONSOLIDATED OPERATING STATISTICS

(Unaudited)

ELECTRIC SALES - MWh’s
(in thousands)
	Three Months Ended June 30,										Six Months Ended June 30,
	2012		2011		Change from Prior Year			Change in Average Customers			2012		2011		Change from Prior Year			Change in Average Customers
Residential		2,331		1,781		30.9	%		1.6	%		3,867		3,310		16.8	%		1.5	%
Commercial		1,149		1,073		7.1	%		0.5	%		2,107		1,988		6.0	%		0.3	%
Industrial		2,040		2,027		0.6	%		(2.7	)%		3,691		3,723		(0.9	)%		(2.6	)%
TOTAL RETAIL		5,520		4,881		13.1	%		1.4	%		9,665		9,021		7.1	%		1.4	%

ELECTRIC SOURCES - MWh’s
(in thousands)
	Three Months Ended June 30,							Six Months Ended June 30,
	2012		2011		Change from Prior Year			2012		2011		Change from Prior Year
Generated		3,871		3,487		11.0	%		7,158		6,260		14.3	%
Purchased		1,997		1,718		16.2	%		3,023		3,301		(8.4	)%
TOTAL		5,868		5,205					10,181		9,561

SIERRA PACIFIC POWER COMPANY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Dollars in Thousands)

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
OPERATING REVENUES:
Electric	$	168,007		$	164,582		$	337,813		$	343,199
Gas		19,544			36,448			65,466			108,742
Total Operating Revenues		187,551			201,030			403,279			451,941
OPERATING EXPENSES:
Fuel for power generation		31,327			42,059			67,813			87,327
Purchased power		28,816			37,900			64,401			77,350
Gas purchased for resale		9,492			24,984			41,109			77,616
Deferral of energy - electric - net		4,314			(11,898	)		(8,356	)		(23,829	)
Deferral of energy - gas - net		1,123			1,442			(117	)		4,691
Energy efficiency program costs		3,400			—			7,051			—
Other operating expenses		33,654			34,687			70,086			74,903
Maintenance		7,662			12,861			17,115			20,286
Depreciation and amortization		27,185			27,693			53,057			53,122
Taxes other than income		5,625			5,599			11,488			11,623
Total Operating Expenses		152,598			175,327			323,647			383,089
OPERATING INCOME		34,953			25,703			79,632			68,852
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $594, $505, $1,010 and $925)		(15,379	)		(16,774	)		(32,352	)		(33,720	)
Interest expense on regulatory items		(128	)		(1,505	)		(314	)		(3,028	)
AFUDC-equity		742			667			1,261			1,211
Other income		599			602			2,782			1,866
Other expense		(1,276	)		(3,554	)		(2,611	)		(5,148	)
Total Other Income (Expense)		(15,442	)		(20,564	)		(31,234	)		(38,819	)
Income Before Income Tax Expense		19,511			5,139			48,398			30,033
Income tax expense		6,832			1,627			17,075			9,945
NET INCOME		12,679			3,512			31,323			20,088
Other comprehensive income:
Change in compensation retirement benefits liability and amortization (Net of taxes $(23), $(210), $(46) and $(1,051))		43			390			85			1,951
COMPREHENSIVE INCOME	$	12,722		$	3,902		$	31,408		$	22,039

SIERRA PACIFIC POWER COMPANY

CONSOLIDATED OPERATING STATISTICS

(Unaudited)

ELECTRIC SALES - MWh’s
(in thousands)
	Three Months Ended June 30,										Six Months Ended June 30,
	2012		2011		Change from Prior Year			Change in Average Customers			2012		2011		Change from Prior Year			Change in Average Customers
Residential		470		467		0.6	%		0.7	%		1,070		1,062		0.8	%		0.6	%
Commercial		724		687		5.4	%		(0.2	)%		1,383		1,342		3.1	%		(0.7	)%
Industrial		687		642		7.0	%		9.0	%		1,320		1,245		6.0	%		2.9	%
TOTAL RETAIL		1,881		1,796		4.7	%		0.6	%		3,773		3,649		3.4	%		0.5	%

GAS SALES - Dth
(in thousands)
	Three Months Ended June 30,							Six Months Ended June 30,
	2012		2011		Change from Prior Year			2012		2011		Change from Prior Year
Residential		1,263		1,718		(26.5	)%		4,970		5,680		(12.5	)%
Commercial		685		837		(18.2	)%		2,565		2,838		(9.6	)%
Industrial		247		316		(21.8	)%		723		887		(18.5	)%
TOTAL RETAIL		2,195		2,871		(23.5	)%		8,258		9,405		(12.2	)%

ELECTRIC SOURCES - MWh’s
(in thousands)
	Three Months Ended June 30,							Six Months Ended June 30,
	2012		2011		Change from Prior Year			2012		2011		Change from Prior Year
Generated		1,138		977		16.5	%		2,316		2,026		14.3	%
Purchased		1,049		1,104		(5.0	)%		2,060		2,203		(6.5	)%
TOTAL		2,187		2,081					4,376		4,229

Non-GAAP Financial Measures

Free Cash Flow

“Free cash flow” meets the definition of a non-GAAP financial measure. NV Energy, Inc. defines free cash flow as net cash from operating activities less additions to utility plant (excluding AFUDC-equity). Since free cash flow is not a measure of liquidity calculated in accordance with GAAP, it should be considered in addition to, but not as a substitute for, the GAAP measure net cash from operating activities.

NV Energy, Inc. considers free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated from operations after capital expenditures that may be available for increasing its common stock dividend payout ratio, strengthening its capital structure, and considering new investment opportunities.

NV Energy, Inc.’s definition of free cash flow is limited, in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations. A reconciliation between GAAP net cash from operating activities and non-GAAP free cash flow is provided in the table below (dollars in thousands).

	Six Months Ended June 30,
	2012			2011			Change from Prior Year
Net Cash from Operating Activities	$	292,663		$	202,519			44.5	%
Less Additions to Utility Plant (Excluding AFUDC-Equity)		(261,559	)		(310,207	)		(15.7	)%
Free Cash Flow	$	31,104		$	(107,688	)		128.9	%

Gross Margin

Gross margin is presented by NV Energy, Inc. in order to provide information that management believes aids the reader in determining how profitable the Utilities’ electric and gas businesses are 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.

NV Energy, Inc. believes presenting gross margin allows the reader to assess the impact of the Utilities’ 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 utility electric and natural gas supply costs versus the fixed rates collected from utility 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 utility customers. Gross margin, which NV Energy, Inc. calculates as operating revenues less energy and energy efficiency program costs, provides a measure of income available to support the other operating expenses of the Utilities. Gross margin changes are based primarily on the Utilities’ general base rate adjustments (which are required to be filed by statute every three years). These non-GAAP measures should not be considered as substitutes for the GAAP measures. Reconciliations between GAAP operating income and gross margin are provided in the table below (dollars in thousands).

	Three Months Ended June 30,								Six Months Ended June 30,
	2012		2011			Change from Prior Year			2012			2011			Change from Prior Year
Operating Revenues:	$	740,698	$	674,931			9.7	%	$	1,352,118		$	1,315,914			2.8	%
Energy Costs:
Fuel for power generation		112,585		156,803			(28.2	)%		229,620			303,141			(24.3	)%
Purchased power		164,092		160,308			2.4	%		281,208			295,324			(4.8	)%
Gas purchased for resale		9,492		24,984			(62.0	)%		41,109			77,616			(47.0	)%
Deferred energy		10,490		(8,106	)		229.4	%		(1,249	)		(10,058	)		87.6	%
Energy efficiency program costs		24,600		—			N/A			44,025			—			N/A
	$	321,259	$	333,989			(3.8	)%	$	594,713		$	666,023			(10.7	)%
Gross Margin	$	419,439	$	340,942			23.0	%	$	757,405		$	649,891			16.5	%
Other operating expenses		103,371		97,547						206,972			203,521
Maintenance		24,650		32,186						57,176			61,948
Depreciation and amortization		96,316		89,606						187,178			172,708
Taxes other than income		14,266		14,684						28,775			30,929
Operating Income	$	180,836	$	106,919			69.1	%	$	277,304		$	180,785			53.4	%