8-K

                      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)   July 26, 2000
                                                           -------------


                            SIERRA PACIFIC RESOURCES
                            ------------------------
             (Exact name of registrant as specified in its charter)


                NEVADA                     1-8788               88-0198358
- ------------------------------------    -----------        ------------------
   (State or other jurisdiction of      (Commission         (I.R.S. Employer
   incorporation or organization)        File Number)       Identification No.)

P.O. Box 30150 (6100 Neil Road), Reno, Nevada                      89511
- ---------------------------------------------               ------------------
   (Address of principal executive offices)                      (Zip Code)


Registrant's telephone number, including area code:    (775) 834-4011
                                                      ---------------

                                     None
- --------------------------------------------------------------------------------
  (Former name, former address and former fiscal year, if changed since last
                                    report)


Item 5.  Other Events
- ---------------------

     On July 20, 2000, Sierra Pacific Resources, the parent corporation of
Nevada Power Company and Sierra Pacific Power Company (the utilities), issued a
press release announcing that the Company, state regulators and several other
parties took steps today toward a global settlement of issues involving
restructuring the electric utility industry in the state, setting new electric
rates for the utilities' customers and resolving other issues involved in state
and federal court cases filed by the utilities.

     On July 21, 2000, Sierra Pacific Resources issued a press release
announcing the resignation of Michael R. Niggli, Chairman and Chief Executive
Officer of Sierra Pacific Resources.

     A copy of both  press releases, dated July 20, 2000 and July 21, 2000,
relating to the above described matters are attached as Exhibits 99.1 and 99.2
hereto.

Item 7. Financial Statements and Exhibits
- -----------------------------------------

     (a)  Financial Statements of Businesses Acquired.
          -------------------------------------------

          Not required

     (b)  Pro forma financial information.
          -------------------------------

          Not required

     (c)  Exhibits.
          --------

          99.1 Sierra Pacific Resources- Press Release issued July 20, 2000

          99.2 Sierra Pacific Resources- Press Release issued July 21, 2000


                                   Signature


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                             Sierra Pacific Resources

Date:  July 26, 2000                       By:    /s/  Mark A. Ruelle
       -------------                             ----------------------
                                                   Mark A. Ruelle
                                                 Senior Vice President
                                           Chief Financial Officer and Treasurer


                                 Exhibit Index
                                 -------------


Exhibit  99.1

     Sierra Pacific Resources- Press Release issued July 20, 2000.

Exhibit  99.2

     Sierra Pacific Resources- Press Release issued July 21, 2000.

EX-99.1

Exhibit 99.1

CARSON CITY, Nev., (July 20) Sierra Pacific Resources announced that Nevada's
electric utilities, state regulators and several other parties took critical
steps today toward a global settlement of issues revolving around restructuring
the electric utility industry in the state, setting new electric rates for
Nevada Power Company customers and resolving other issues involved in state and
federal court cases filed by the utilities.

Additional agreements between the parties that settle other electric utility
issues are likely to be heard by the Public Utilities Commission of Nevada
(PUCN) in early August. The agreements involving the state court case must also
be approved by Nevada District Court Judge Michael Griffin.

Under terms of the agreements, Nevada Power Company will be permitted to
increase its electricity prices by approximately $48 million to recover costs
for fuel and purchased power. Monthly rates for an average residential customer
in southern Nevada using 1,100-kilowatt hours of electricity will rise
approximately $3.53, or 4.7 percent, as a result of the increase. Prices for
commercial and industrial customers will increase between 5 and 6 percent. The
utility does not realize a profit on rates related to fuel and purchased power
costs.

Despite the increase, electricity prices in southern Nevada remain significantly
lower than in other areas of the Pacific Southwest: 30 percent lower than major
cities in Arizona, and 50 percent lower than major cities in California.

Like other electric utilities in the West, Nevada Power has been confronted with
an unprecedented and extremely volatile energy market over the past several
months. That has forced the company to pay significantly more for fuel and
purchased power, costs the company has not been able to recover, while meeting
increased demands for electricity caused by a period of above-normal
temperatures, particularly in southern Nevada.

Current rates for Nevada Power's northern Nevada affiliate, Sierra Pacific Power
Company, will not immediately change. However, both utilities will institute
mandatory monthly rate adjustments to reflect changes in fuel and purchased
power costs (both increases and decreases), beginning Sept. 1, 2000. Limits are
set on the adjustments.

General rates for Nevada Power and Sierra Pacific customers -- the component of
electric rates that includes everything but fuel and purchased power -- will
remain frozen until March 1, 2003.

During the hearings, the PUCN Commissioners called the phased in transition for
Customer Choice a "wise course."

The agreement also outlines procedures for the opening of the state's retail
electric market to competition. These procedures are intended to balance the
interests of customers, employees and shareholders as restructuring moves
forward. The agreement states that restructuring will be phased in for different
customer groups, beginning November 1, 2000, and ending December 31, 2001,
according to the following schedule:


November 1, 2000 - the largest commercial customers, including large resorts,
mines and the Southern Nevada Water Authority
April 1, 2001 - medium commercial customers
June 1, 2001 - small commercial customers
September 1, 2001 - December 1, 2001 - residential customers

To facilitate retail open access, the companies filed a transmission tariff this
week with the Federal Energy Regulatory Commission and will pursue formation of
a regional transmission organization to oversee the operation of the various
electric transmission systems.

Sierra Pacific Power and Nevada Power are subsidiaries of Sierra Pacific
Resources (NYSE: SRP - news), a holding company headquartered in Reno Nevada.
                 ---   ----
Nevada Power is the electric utility for southern Nevada, and Sierra Pacific
Power is the electric utility for most of northern Nevada and the Lake Tahoe
area of California, and a natural gas and water distributor in the Reno - Sparks
area.

EX-99.2

Exhibit 99.2

LAS VEGAS, (July 21) The Board of Directors of Sierra Pacific Resources
announced today the resignation of Michael R. Niggli, who is leaving the company
to pursue other business opportunities. The Company announced that it will be
conducting a search to replace Mr. Niggli.

Niggli was Chairman and Chief Executive Officer of Sierra Pacific Resources. He
was named to the post in July 1999 after having served a year as President and
CEO of Nevada Power Co., based in Las Vegas, Nev.

To replace Niggli, James R. Donnelley, will assume the position of acting
Chairman. He has served on the Sierra Pacific Resources Board since 1987.
Donnelley, 65, a board member of R.R. Donnelley & Sons Company is recently
retired Vice Chairman of the Board of that company. He has been a director of
that company since 1976. Donnelley is also a director of PMP Communications and
Chairman of the Board of the National Merit Scholarship Corporation. Mr.
Donnelley stated that the company continues to embrace the recently announced
global settlement on state utility rate and restructuring matters and the
company's plans to acquire Portland General Electric Company.

Fred D. Gibson, Jr. will assume the position of acting Vice Chairman of the
Sierra Pacific Resources Board. Gibson, 72, is the retired Chairman, President
and CEO of American Pacific Corporation. He also serves as a Director of Cashman
Equipment and American Pacific Corporation. He had served as a Director on the
Nevada Power Company Board since 1978 and joined the Resources Board when Nevada
Power and Sierra Pacific merged in 1999.

Steve Rigazio, 45, President of Nevada Power Company, who will continue in that
capacity, was named to the position of acting Chief Operating Officer for Sierra
Pacific Resources. A 16-year veteran of Nevada Power, he had previously held
positions as Senior Vice President of Energy Delivery, and Vice President of
Finance and Planning and Chief Financial Officer. Jeff Ceccarelli will continue
as President of Sierra Pacific Power Company, a wholly owned subsidiary of
Sierra Pacific Resources.

Sierra Pacific Resources is a holding company whose principal subsidiaries are
Nevada Power Company, the electric utility for southern Nevada, and Sierra
Pacific Power Company, the electric utility for most of northern Nevada and the
Lake Tahoe area of California, and a natural gas and water distributor in the
Reno-Sparks area. Other subsidiaries include the Tuscarora Gas Pipeline Company,
which owns 50 percent interest in an interstate natural gas transmission
partnership and Sierra Pacific Communications, a telecommunications company.