LAS VEGAS, April 12 /PRNewswire/ -- Nevada Power Company, a
wholly-owned subsidiary of Sierra Pacific Resources (NYSE: SRP) announced
today that the Public Utilities Commission of Nevada (PUCN) approved the
previously-announced stipulation with intervening parties on the going
forward rate portion of its annual deferred energy filing.
    The agreement results in an increase of approximately 7.1 percent for a
typical residential customer using 1250 kilowatt hours. After these
changes, this customer would see an average monthly increase of $9.10, to
$136.98 effective May 1.
    Today's PUCN decision does not affect the portion of the deferred
energy filing made in January in which the company requested to recover
costs it had already incurred for fuel and purchased power. Hearings on
that portion of the filing will be conducted in June with any approved rate
changes effective in August.
    Nevada Power Company is a regulated public utility engaged in the
distribution, transmission, generation, purchase and sale of electric
energy in the southern Nevada communities of Las Vegas, North Las Vegas,
Henderson, Searchlight, Laughlin and their adjoining areas. The Company
also provides electricity to Nellis Air Force Base, the Department of
Energy at Mercury and Jackass Flats at the Nevada Test Site. Nevada Power
Company provides electricity to approximately 750,000 residential and
business customers in a 4,500 square mile service area.
    Headquartered in Nevada, Sierra Pacific Resources is a holding company
whose principal subsidiaries are Nevada Power Company, the electric utility
for most of southern Nevada, and Sierra Pacific Power Company, the electric
utility for most of northern Nevada and the Lake Tahoe area of California.
Sierra Pacific Power Company also distributes natural gas in the
Reno-Sparks area of northern Nevada. Other subsidiaries include the
Tuscarora Gas Pipeline Company, which owns 50 percent interest in an
interstate natural gas transmission partnership and several unregulated
energy services companies.
    Forward-Looking Statements: This press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. These statements are subject to a variety of risks and
uncertainties that could cause actual results to differ materially from
current expectations. These risks and uncertainties include, but are not
limited to, whether the Public Utilities Commission of Nevada will approve
the stipulation on the terms agreed to by the parties. Additional
cautionary statements regarding other risk factors that could have an
effect on the future performance of Nevada Power Company are contained in
its Annual Report on Form 10-K for the year ended December 31, 2005, filed
with the SEC. Nevada Power Company undertakes 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.

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