Nv Energy (NVE) 8-K Sierra Pacific Resources Announces Private Offering of $225 Million Long Term Senior Notes

UNITED STATES
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) August 9, 2005

Commission	Registrant, Address of Principal Executive	I.R.S. Employer	State of
File Number	Offices and Telephone Number	Identification Number	Incorporation
1-08788	SIERRA PACIFIC RESOURCES	88-0198358	Nevada
	P.O. Box 10100
	(6100 Neil Road)
	Reno, Nevada 89520-0400 (89511)
	(775) 834-4011

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))

TABLE OF CONTENTS

	Item 8.01. Other Events.
	Item 7.01 Regulation FD Disclosure.
	Item 9.01. Financial Statements and Exhibits
Signatures
Ex-99.1 Press release dated August 9, 2005

Item 8.01. Other Events.

On August 9, 2005, Sierra Pacific Resources (the “Company”) issued a press release announcing a planned institutional private placement of $225 million of its long term senior notes (the “Notes”) pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In accordance with Rule 135(c) of the Securities Act, the Company files a copy of the press release as Exhibit 99.1 hereto.

Item 7.01 Regulation FD Disclosure.

The information set forth below is included in a presentation to be provided to institutional investors by the Company in connection with the offering of the Notes pursuant to Rule 144A under the Securities Act. Pursuant to general instruction B.2 to Form 8-K, the information furnished pursuant to Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The following tables define EBITDA as earnings before interest, taxes, depreciation, and amortization adjusted for other operating expenses for the periods shown below:

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(in thousands)

	6 months ended		6 months ended			Year ended		12 months ended
	June 30, 2005		June 30, 2004			2004		June 30, 2005
Nevada Power Company
Net Income (Loss)	$	12,936		($1,816	)	$	104,312	$	119,064
Deferred energy cost disallowed				1,586			1,586
Disallowed merger cost				3,961			3,961
Disallowed plant cost
Impairment of goodwill
Adjusted Net Income (Loss)	$	12,936	$	3,731		$	109,859	$	119,064
Interest charge		81,921		82,956			137,388		136,353
Income tax expenses (Benefits)		6,009		(1,069	)		56,572		63,650
Depreciation and Amortization		61,163		58,730			118,841		121,274
EBITDA	$	162,029	$	144,348		$	422,660	$	440,341

	6 months ended		6 months ended			Year ended		12 months ended
	June 30, 2005		June 30, 2004			2004		June 30, 2005
Sierra Pacific Power Company
Net Income (Loss)	$	17,036		($24,516	)	$	18,577	$	60,129
Deferred energy cost disallowed Disallowed merger cost				1,929			1,929
Disallowed plant cost				47,092			47,092
Impairment of goodwill
Adjusted Net Income (Loss)	$	17,036	$	24,505		$	67,598	$	60,129
Interest charge		36,288		39,208			62,831		59,911
Income tax expenses (Benefits)		10,569		(15,053	)		325		25,947
Depreciation and Amortization		44,924		43,336			86,806		88,394
EBITDA	$	108,817	$	91,996		$	217,560	$	234,381
	6 months ended		6 months ended			Year ended		12 months ended
	June 30, 2005		June 30, 2004			2004		June 30, 2005
Sierra Pacific Resources
Income (Loss) from continuing operations	$	1,509		($83,742	)	$	35,635	$	120,886
Deferred energy cost disallowed				1,586			1,586
Disallowed merger cost				5,890			5,890
Disallowed plant cost				47,092			47,092
Impairment of goodwill				11,695			11,695
Adjusted Income (Loss) from continuing operations	$	1,509		($17,479	)	$	101,898	$	120,886
Interest charge		159,156		188,287			306,427		277,296
Income tax expenses (Benefits)		1,419		(38,695	)		20,631		60,745
Depreciation and Amortization		106,087		102,066			205,647		209,668
EBITDA	$	268,171	$	234,179		$	634,603	$	668,595

Sierra Pacific Resources
(Historical)

	Fiscal year ended December 31,
	2004		2003			2002
Income (Loss) from continuing operations	$	35,635		($104,160	)		($294,979	)
Deferred energy cost disallowed		1,586		90,964			491,081
Disallowed merger cost		5,890
Disallowed plant cost		47,092
Impairment of good will		11,695
Adjusted Income (Loss) from continuing operations	$	101,898		($13,196	)	$	196,102
Interest charge		306,427		366,282			279,057
Income tax expenses (Benefits)		20,631		(44,207	)		(161,191	)
Depreciation and Amortization		205,647		191,259			174,200
EBITDA	$	634,603	$	500,138		$	488,168

Item 9.01. Financial Statements and Exhibits

(c)	Exhibits
	99.1 Press release dated August 9, 2005

Signatures

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 (Registrant)
Date: August 9, 2005	By:	/s/ John E. Brown
		John E. Brown Controller