-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GyZds1KS9+uAWf1OOvI4fN7ZgY4TrOcAlvg66oDt8T2ocMpRlt+eTZzCvZ3mEATR 1nSeMyiht33lfs8E2IPEKQ== 0000950135-06-007502.txt : 20061220 0000950135-06-007502.hdr.sgml : 20061220 20061219205418 ACCESSION NUMBER: 0000950135-06-007502 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20061219 ITEM INFORMATION: Other Events FILED AS OF DATE: 20061220 DATE AS OF CHANGE: 20061219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIERRA PACIFIC RESOURCES /NV/ 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: 061288014 BUSINESS ADDRESS: STREET 1: PO BOX 30150 STREET 2: 6100 NEIL RD CITY: RENO STATE: NV ZIP: 89511 BUSINESS PHONE: 7758344011 MAIL ADDRESS: STREET 1: P O BOX 30150 STREET 2: 6100 NEIL ROAD CITY: RENO STATE: NV ZIP: 89511 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: 061288015 BUSINESS ADDRESS: STREET 1: 6100 NEIL RD STREET 2: P O BOX 10100 CITY: RENO STATE: NV ZIP: 89520-0400 BUSINESS PHONE: 7026895408 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: 002-28348 FILM NUMBER: 061288016 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 230 CITY: LAS VEGAS STATE: NV ZIP: 89151 FORMER COMPANY: FORMER CONFORMED NAME: SOUTHERN NEVADA POWER CO DATE OF NAME CHANGE: 19701113 8-K 1 b63481spe8vk.htm SIERRA PACIFIC RESOURCES 8-K e8vk
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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)    December 19, 2006
             
Commission
File Number
  Registrant, Address of Principal Executive
Offices and Telephone Number 		  I.R.S. employer
Identification Number 		  State of
Incorporation
 
            
1-08788
  SIERRA PACIFIC RESOURCES
P. O. Box 10100 (6100 Neil Road)
Reno, Nevada 89520-0400 (89511)
(775) 834-4011 		  88-0198358   Nevada
 
            
2-28348
  NEVADA POWER COMPANY
6226 West Sahara Avenue
Las Vegas, Nevada 89146
(702) 367-5000 		  88-0420104   Nevada
 
            
0-00508
  SIERRA PACIFIC POWER COMPANY
P. O. Box 10100 (6100 Neil Road)
Reno, Nevada 89520-0400 (89511)
(775) 834-4011 		  88-0044418   Nevada
None
 
(Former name, former address and former fiscal year, 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:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

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Item 8.01 — Other Events
Signatures

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Item 8.01 — Other Events
     In December 2001, Nevada Power Company and Sierra Pacific Power Company (the “Nevada Companies”) filed ten complaints with the Federal Energy Regulatory Commission (“FERC”) against various power suppliers under Section 206 of the Federal Power Act. The Nevada Companies, along with other purchasers of power in the West, including Public Utility District No. 1 of Snohomish County Washington, Southern California Water Company and the Attorneys General of California and Nevada (collectively, the “Utilities”), sought price reduction of forward wholesale power purchase contracts entered into prior to the FERC mandated price caps imposed in June 2001 in reaction to the Western United States energy crisis. The Utilities contested the amounts paid for power actually delivered as well as termination claims for undelivered power against terminating suppliers.
     On June 26, 2003, the FERC dismissed the Utilities’ Section 206 complaints, stating that the Utilities had failed to satisfy their burden of proof under the strict public interest standard espoused in two Supreme Court cases and referred to as the Mobile-Sierra doctrine. On July 28, 2003, the Utilities filed a petition for rehearing, but the FERC reaffirmed its June 26, 2003 decision. The Utilities appealed this decision to the Ninth Circuit and oral argument was held on December 8, 2004.
     Today, the Ninth Circuit issued a ruling reversing the FERC’s decision and remanding to FERC the entire proceeding for reconsideration. The Ninth Circuit found that FERC’s analysis failed to take into account the “regulatory evolution” that has taken place since the Mobile and Sierra decisions and, therefore, did not “account for the circumstances in which it is the buyer rather than the seller that is challenging the existing contract.” Specifically, the Court held that FERC failed to engage in a proper analysis. On remand, FERC is required to apply the proper statutory standards to determine whether the Mobile-Sierra review of the challenged contracts is appropriate. If so, FERC is required to apply the form of that review specified by the Court. If, on remand, FERC determines that Mobile-Sierra review is not appropriate under the particular circumstances presented, then FERC is required to apply a full just and reasonable review to the challenged contracts.
     Power suppliers named in the original complaints were: Enron, Duke Energy Trading & Marketing, Reliant Energy Services, Inc., Morgan Stanley Capital Group (“Morgan Stanley”), El Paso Merchant Energy (now known as El Paso Marketing LP) (“El Paso”), Calpine Energy Services LP, Allegheny Energy Supply Company LLC, BP Energy Company, Mirant Americas Energy Marketing LP, and American Electric Power Service Organization. The Nevada Companies have negotiated settlements with Duke Energy Trading & Marketing, Reliant Energy Services, Inc., Morgan Stanley, El Paso, and Enron. In accordance with the Enron, Morgan Stanley, and El Paso settlement agreements, the Nevada Companies withdrew from further participation in the FERC 206 complaints (including any associated appeals) as against Enron, Morgan Stanley and El Paso. The Nevada Companies are analyzing the impact of today’s decision on the other settlements and on the complaints which were not settled.
     The Nevada Companies are unable to predict the outcome of any further appellate proceedings that may intervene before remand.

 

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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.
         
  Sierra Pacific Resources
(Registrant)
 		  
Date:  December 19, 2006  By:   /s/ Michael W. Yackira    
    Michael W. Yackira   
    Corporate Executive Vice President and Chief
Financial Officer 		  
 
  Nevada Power Company
(Registrant)
 		  
Date:  December 19, 2006  By:   /s/ Michael W. Yackira    
    Michael W. Yackira   
    Executive Vice President and Chief Financial
Officer 		  
 
  Sierra Pacific Power Company
(Registrant)
 		  
Date:  December 19, 2006  By:   /s/ Michael W. Yackira    
    Michael W. Yackira   
    Executive Vice President and Chief Financial Officer   
 

 

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