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)) |
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 |
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 PUCNs 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
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 |
Exhibit 99.1
|
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
Exhibit 99.2
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.
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Exhibit 99.3
|
Investor Fact Sheet June 2013 Rate Filings: NVE-North |
Exhibit 99.4
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 companys 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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