0001193125-13-248775.txt : 20130605 0001193125-13-248775.hdr.sgml : 20130605 20130605172336 ACCESSION NUMBER: 0001193125-13-248775 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20130531 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130605 DATE AS OF CHANGE: 20130605 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NV ENERGY, INC. 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: 13895176 BUSINESS ADDRESS: STREET 1: 6226 WEST SAHARA AVENUE CITY: LAS VEGAS STATE: NV ZIP: 89146 BUSINESS PHONE: 702-367-5000 MAIL ADDRESS: STREET 1: 6226 WEST SAHARA AVENUE CITY: LAS VEGAS STATE: NV ZIP: 89146 FORMER COMPANY: FORMER CONFORMED NAME: SIERRA PACIFIC RESOURCES /NV/ DATE OF NAME CHANGE: 19920703 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: 13895177 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: 13895178 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 d548190d8k.htm 8-K 8-K
Table of Contents

 

 

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) May 31, 2013

 

Commission File Number   Registrant, State of Incorporation, Address of Principal Executive Offices and Telephone Number     

I.R.S. Employer

Identification Number

001-08788   NV ENERGY, INC.      88-0198358
  Nevada     
  6226 West Sahara Avenue     
  Las Vegas, Nevada 89146     
  (702) 402-5000     
000-52378   NEVADA POWER COMPANY d/b/a      88-0420104
  NV ENERGY     
  Nevada     
  6226 West Sahara Avenue     
  Las Vegas, Nevada 89146     
  (702) 402-5000     
000-00508   SIERRA PACIFIC POWER COMPANY d/b/a      88-0044418
  NV ENERGY     
  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:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Table of Contents

TABLE OF CONTENTS

 

Item 7.01 Regulation FD Disclosure

  

Item 9.01 Exhibits

  

SIGNATURES

  

EX-99.1 Investor Fact Sheet – May 2013 Utility Merger Application: NV Energy

  

EX-99.2 Press Release dated June 3, 2013- One Company Filing: NV Energy

EX-99.3 Investor Fact Sheet – June 2013 Rate Filings: NVE – North

EX-99.4 Press Release dated June 3, 2013- General Rate Case: NV Energy-North

  


Table of Contents
Item 7.01 Regulation FD Disclosure

On May 31, 2013, the utility subsidiaries of NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company, both d/b/a NV Energy, filed a joint application with the Public Utilities Commission of Nevada (PUCN) (Docket No. 13-05056) for authorization to merge. Details of the PUCN merger application are outlined in Exhibit 99.1, Investor Fact Sheet – May 2013 Utility Merger Applications and Exhibit 99.2, Press Release – One Company Filing, dated June 3, 2013.

Also on May 31, 2013, NV Energy, Inc., together with its wholly-owned utility subsidiaries Nevada Power Company and Sierra Pacific Power Company, both d/b/a NV Energy (the Companies), filed a joint application with the Federal Energy Regulatory Commission (FERC) (Docket No. EC13-113000), for approval of an internal reorganization (namely the utility merger) under section 203 of the Federal Power Act. Also on May 31, 2013, the Companies filed joint applications to modify transmission rates and open access transmission tariff terms and conditions. Details of the FERC merger related applications are outlined in Exhibit 99.1, Investor Fact Sheet – May 2013 Utility Merger Applications.

On June 3, 2013, Sierra Pacific Power Company d/b/a NV Energy filed with the PUCN its general electric and gas rate case applications. The general rate case filings are available to the public on the PUCN’s website at http://puc.nv.gov/Dockets/Dockets (Docket Nos. Electric -13-06002; Gas – 13-06003). Details of the general rate case filings are outlined in Exhibit 99.3, Investor Fact Sheet – June 2013 Rate Filings: NVE-North and Exhibit 99.4, Press Release- General Rate Case, dated June 3, 2013.

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 Exhibits.

 

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

EX-99.1 — Investor Fact Sheet – May 2013 Utility Merger Applications: NV Energy

EX-99.2 — Press Release dated June 3, 2013- One Company Filing: NV Energy

EX-99.3— Investor Fact Sheet – June 2013 Rate Filing: NV Energy-North

EX-99.4— Press Release dated June 3, 2013- General Rate Case: NV Energy-North


Table of Contents

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: June 5, 2013     By:   /s/ E. Kevin Bethel
      E. Kevin Bethel
      Chief Accounting Officer
    Nevada Power Company d/b/a NV Energy
      (Registrant)
Date: June 5, 2013     By:   /s/ E. Kevin Bethel
      E. Kevin Bethel
      Chief Accounting Officer
    Sierra Pacific Power Company d/b/a NV Energy
      (Registrant)
Date: June 5, 2013     By:   /s/ E. Kevin Bethel
      E. Kevin Bethel
      Chief Accounting Officer
EX-99.1 2 d548190dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

  

Investor Fact Sheet

May 2013 Utility Merger Application

 

Milestones

Filed with Public Utilities Commission of Nevada: May 31, 2013

Expected Commission decision: by November 30, 2013

Key PUCN Approvals Requested

 

   

Consolidation of NVE-North and NVE-South into a single utility entity renamed NV Energy Operating Company (wholly owned subsidiary of NV Energy, Inc.)

 

   

Consolidation is in the public interest

 

   

Approval of Nevada retail rate plan

Retail Base Rates for a Combined System

On June 2, 2014, NV Energy Operating Company will file a general rate case reflecting a consolidated revenue requirement for its electric and gas utility operations, based on its capital structure, rate base and non-fuel operating and maintenance expense. The results of this filing will establish revenue requirements and retail rates for the combined utility.

FERC Approvals Needed

 

   

Approval of an internal corporate reorganization – filed on May 31, 2013

 

   

Modifications to open access transmission tariff and transmission system rate to reflect one rather than two zones and consolidation of the systems as a result of the One Nevada Transmission Line (ON Line)—filed on May 31, 2013

 

   

Market-based wholesale rate authority for NV Energy Operating Company

 

   

Cost-based wholesale rate authority for NV Energy Operating Company

For more information, contact Investor Relations:

Max Kuniansky: 702.402.5627 or mkuniansky@nvenegy.com

Jessica Lucero: 702.402.5612 or jlucero@nvenergy.com

EX-99.2 3 d548190dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

LOGO

 

 

   Contact:    Jennifer Schuricht
      702-402-5241

NV Energy Makes One Company Filing with
Public Utilities Commission of Nevada

Las Vegas (June 3, 2013) – NV Energy filed with the Public Utilities Commission of Nevada a request to consolidate legal and regulatory structures of its two operating subsidiaries, Nevada Power and Sierra Pacific Power Company. This filing is the final step of the merger between the two companies that began in 1999.

“We are asking the PUCN to create a single utility structure. The expected year-end completion of the One Nevada Transmission line is the impetus for making this request,” said Michael Yackira, NV Energy President and Chief Executive Officer. “If approved, it will result in fewer regulatory filings and modest reductions in cost of service, and will facilitate accounting for the benefits associated with ON Line.”

The filing seeks to put mechanisms in place to account for costs going forward and will have no impact on customer rates. If approved, the proposal will be in effect with the completion of the ON Line transmission project in December of this year. The company would then file a proposed combined general rate case on June 1, 2014, with an effective date of January 1, 2015.

Other than the efficiencies gained in this filing, the company has already captured for the benefit of customers consolidation of activities, including back-office and operational functions, most notably in power generation, resource optimization and transmission.

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 service territory of nearly 46,000 square miles, 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.

###

EX-99.3 4 d548190dex993.htm EX-99.3 EX-99.3

Exhibit 99.3

 

LOGO

  

Investor Fact Sheet

June 2013 Rate Filings: NVE-North

 

Milestones

 

 

Filing date: June 3, 2013

 

 

Expected Commission decision: within 210 days

 

 

Each of the company’s two electric utilities is required to file a general rate case (GRC) every three years. There are no time requirements for the gas division.

Test Year

 

 

Calendar 2012 with known and measurable adjustments through May 31, 2013.

Revenue (Decrease) Increase Requested

($ millions)

Effective January 1, 2014:

 

•      Electric

   ($9.4) or (1.4%)

•      Gas

   $10.2 or 11.4%

Impact on Customer Bills

 

 

Electric – commercial: average decrease of 2.81%.

 

 

Electric – residential: because of shifts in cost of service, typical single family customer would experience an increase of 1.77%:

 

Current typical bill =

   $83.58 (746 kWh)

Proposed typical bill =

   $85.06 (746 kWh)

 

 

Gas: typical single family residential customer would experience an increase of 11.04%:

 

Current typical bill =

   $35.87 (56 therms)

Proposed typical bill =

   $39.83 (56 therms)

 

For more information, contact Investor Relations:

Max Kuniansky: 702.402.5627 or mkuniansky@nvenegy.com

Jessica Lucero: 702.402.5612 or jlucero@nvenergy.com

 

Key Drivers of Revenue (Decrease) Increase

($ millions)

Electric:

•      O&M reductions

   $ (19.9

•      Reallocation of debt between electric and gas

     (4.5

•      Depreciation and amortization

     8.3   

•      Return

     6.0   

•      Other

     0.7   

Gas:

•      O&M reductions

   $ (1.6

•      Return and under-earnings

     8.0   

•      Reallocation of debt between electric and gas

     4.8   

•      Depreciation and amortization

     0.8   

•      Other

     (1.8

Proposed Rate Base ($ millions)

 

•      Electric

   $ 1,552.3   

•      Gas

   $ 204.2   

Capital Structure and Rate of Return

 

 

Requested in this filing:

 

Electric

  

•      Debt/equity

   53%/47%

•      Return on equity

   10.4%

•      Overall return

   7.74%

Gas

  

•      Debt/equity

   53%/47%

•      Return on equity

   10.35%

•      Overall return

   7.72%

 

 

Approved in last NVE-North rate case (2010):

 

Electric

  

•      Return on equity

     10.1

•      Overall return

     7.86

Gas

  

•      Return on equity

     10.0

•      Overall return

     5.15
 
EX-99.4 5 d548190dex994.htm EX-99.4 EX-99.4

Exhibit 99.4

 

LOGO

 

   Contact:    Karl Walquist
      775-834-3891
      Jennifer Schuricht
      702-402-5241

NV Energy Files General Rate Case for Northern Nevada

LAS VEGAS – June 3, 2013 – NV Energy today submitted to the Public Utilities Commission of Nevada (PUCN) its legally required Electric General Rate Case and accompanying Gas General Rate Case filing for northern Nevada.

The filings seek to reduce the company’s overall electric revenue requirement by $9.4 million and increase the overall gas revenue requirement by $10.2 million.

While the revenue reduction results in an overall decrease in electric rates for northern Nevada commercial customers, who will see an average decrease of 2.81 percent, typical residential customers in northern Nevada will experience a less than two percent increase due to shifts in cost of service. As proposed, the monthly single-family residential electric customer bill of $83.58, based on average usage of 746 kWh, will increase to $85.06.

The typical residential gas customer will experience an increase of 11.04 percent. As proposed, the monthly single-family residential gas customer bill of $35.87, based on an average usage of 56 therms, will increase to $39.83.

The company is required to make the electric filing once every three years. The triennial filing seeks to recover investments and return associated with investments in generation, transmission and distribution additions, and operating and maintenance expenses.

New rates from these filings will become effective January 1, 2014. Over the next 210 days, the PUCN will gather data, have a consumer session, and hold hearings before issuing a decision.

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 service territory of nearly 46,000 square miles, 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.

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