LAS VEGAS, July 1 /PRNewswire-FirstCall/ -- Nevada Power Company, a
subsidiary of Sierra Pacific Resources (NYSE: SRP), today filed with the
Public Utilities Commission of Nevada (PUCN) a Resource Plan featuring both
short- and long-term objectives covering the 20-year period from 2003 through
2022.
    The filing includes a three-year Action Plan that describes the actions,
specific projects and budgets that the company is proposing to implement
during calendar years 2004-2006 as well as an update to the Energy Supply Plan
that was filed with the PUCN in January.
    "The 2003 Nevada Power Electric Resource Plan represents an important step
forward toward a return to more stable and predictable electricity pricing for
the benefit of our customers," said Michael Yackira, executive vice president
of strategy and policy for Sierra Pacific Resources.  "It is the first full
electric resource plan filed by Nevada Power since the events surrounding
2000-2001 the western energy crisis and it reflects a very different approach
to filing the growing need for electricity in southern Nevada.  Among the many
benefits will be reduced dependence on volatile wholesale power markets which
were the source of the power cost run-ups in that time frame.

    The company is seeking approval from the PUCN on a number of elements
including:

     --  Approval to construct a combustion turbine generating plant prior to
         the summer peak of 2006
     --  Approval to construct a 520 MW combined cycle generating plant with
         an in-service date prior to the 2007 summer peak
     --  Investigate the feasibility of constructing a state-of-the-art,
         environmentally acceptable coal-fired power plant.
     --  Approval of conservation and energy efficiency programs
     --  Acceptance of the Company's plan to reserve up to 650 MW of
         additional native load transmission rights on the Centennial
         Transmission Project following the construction of the Harry Allen to
         Mead 500 kV transmission line, the final leg of the Centennial
         Project.

    In addition, the Action Plan includes the following items:

     --  Issuance of an RFP for long-term purchase power contracts
     --  Issuance of an RFP to meet the Renewable Energy Portfolio Standard
         through 2007

    The company is required to file a Resource Plan every three years.  The
PUCN is expected to  hold public hearings make and decision on the Resource
Plan by mid-November.

    Headquartered in Las Vegas, Nevada Power is the principal electric utility
in southern Nevada.  It is a wholly owned subsidiary of Sierra Pacific
Resources (NYSE: SRP), which also is the holding company for 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 of
Sierra Pacific Resources include the Tuscarora Gas Pipeline Company, which
owns 50 percent interest in an interstate natural gas transmission
partnership, Sierra Pacific Communications, a telecommunications company, and
Sierra Pacific Energy (e-three), an energy conservation services company.

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