Nevada, USA

Las Vegas, NV: (Mar-23-07) In a lawsuit between Nevada Power Company, the Public Utilities Commission of Nevada, and the Nevada Attorney General's Bureau of Consumer Protection and other parties, a settlement was reached in favor of Nevada Power Company, a wholly owned subsidiary of Sierra Pacific Resources. The agreement allows Nevada Power Company to collect over three years, approximately $83 million in costs incurred to resolve claims associated with terminated power contracts emanating from western energy crisis, and to recover over 10 years, $180 million and certain carrying charges related to a previous regulatory disallowance. [SYS-CON: POWER CONTRACT]

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Published on Mar-26-07