Sierra Pacific Power 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Sierra Pacific Power Company
Entity Central Index Key	90,144
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		1,000
Entity Public Float			$ 0
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 154	$ 22
Accounts receivable, net	110	127
Inventories	41	40
Regulatory assets	0	32
Deferred income taxes	32	42
Other current assets	27	20
Total current assets	364	283
Property, plant and equipment, net	2,689	2,640
Regulatory assets	424	444
Other assets	16	21
Total assets	3,493	3,388
Current liabilities:
Accounts payable	124	127
Accrued interest	15	15
Accrued property and other taxes	12	12
Regulatory liabilities	72	39
Current portion of long-term debt and capital lease obligations	453	1
Customer Deposits	18	16
Other current liabilities	20	14
Total current liabilities	714	224
Long-term debt and capital lease obligations	758	1,199
Regulatory liabilities	232	262
Deferred income taxes	593	566
Other long-term liabilities	137	139
Total liabilities	2,434	2,390
Shareholder's Equity:
Common stock - $3.75 stated value, 20,000,000 shares authorized and 1,000 issued and outstanding	0	0
Other paid-in capital	1,111	1,111
Accumulated deficit	(50)	(111)
Accumulated other comprehensive loss, net	(2)	(2)
Total shareholder's equity	1,059	998
Total liabilities and shareholder's equity	$ 3,493	$ 3,388

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, stated value per share	$ 3.75	$ 3.75
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	1,000	1,000
Common stock, shares outstanding	1,000	1,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating revenue:
Regulated electric	$ 228	$ 233	$ 625	$ 589
Regulated natural gas	18	18	94	83
Total operating revenue	246	251	719	672
Operating costs and expenses:
Cost of fuel, energy and capacity	96	103	294	269
Natural gas purchased for resale	7	7	57	48
Operating and maintenance	41	47	116	120
Depreciation and amortization	28	27	84	79
Property and other taxes	8	7	22	19
Total operating costs and expenses	180	191	573	535
Operating income	66	60	146	137
Other income (expense):
Interest expense	(16)	(16)	(46)	(46)
Allowance for borrowed funds	0	1	1	2
Allowance for equity funds	1	1	2	3
Other, net	1	3	3	8
Total other income (expense)	(14)	(11)	(40)	(33)
Income before income tax expense	52	49	106	104
Income tax expense	19	18	38	37
Net income	$ 33	$ 31	$ 68	$ 67

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholder's Equity - USD ($) $ in Millions	Total	Common Stock	Other Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss, Net
Balance (shares) at Dec. 31, 2013		1,000
Balance at Dec. 31, 2013	$ 1,016	$ 0	$ 1,111	$ (93)	$ (2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67			67
Balance (shares) at Sep. 30, 2014		1,000
Balance at Sep. 30, 2014	$ 1,083	$ 0	1,111	(26)	(2)
Balance (shares) at Dec. 31, 2014	1,000	1,000
Balance at Dec. 31, 2014	$ 998	$ 0	1,111	(111)	(2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	68			68
Dividends, Common Stock, Cash	$ (7)			(7)
Balance (shares) at Sep. 30, 2015	1,000	1,000
Balance at Sep. 30, 2015	$ 1,059	$ 0	$ 1,111	$ (50)	$ (2)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 68	$ 67
Adjustments to reconcile net income to net cash flows from operating activities:
Loss on nonrecurring items	0	14
Depreciation and amortization	84	79
Allowance for equity funds	(2)	(3)
Deferred income taxes and amortization of investment tax credits	38	37
Amortization of deferred energy	20	7
Deferred energy	68	(34)
Amortization of other regulatory assets and liabilities	(9)	36
Other, net	0	(19)
Changes in other operating assets and liabilities:
Accounts receivable and other assets	10	24
Accounts payable and other liabilities	14	(27)
Net cash flows from operating activities	291	181
Cash flows from investing activities:
Capital expenditures	(153)	(117)
Payments for (Proceeds from) Other Investing Activities	2	0
Net cash flows from investing activities	(151)	(117)
Cash flows from financing activities: [Abstract]
Repayments of long-term debt and capital lease obligations	1	0
Dividends paid	(7)	0
Net Cash Provided by (Used in) Financing Activities	(8)	0
Net change in cash and cash equivalents	132	64
Cash and cash equivalents at beginning of period	22	67
Cash and cash equivalents at end of period	$ 154	$ 131

Organization and Operations (No

Organization and Operations (Notes)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations Sierra Pacific Power Company, together with its subsidiaries (collectively, the "Company"), is a wholly owned subsidiary of NV Energy, Inc. ("NV Energy"), a holding company that also owns Nevada Power Company ("Nevada Power") and certain other subsidiaries. The Company is a United States regulated electric utility company serving retail customers, including residential, commercial and industrial customers and regulated retail natural gas customers primarily in northern Nevada. NV Energy is an indirect wholly owned subsidiary of Berkshire Hathaway Energy Company (" BHE "). BHE is a holding company based in Des Moines, Iowa that owns subsidiaries principally engaged in energy businesses. BHE is a consolidated subsidiary of Berkshire Hathaway Inc. ("Berkshire Hathaway"). The unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (" GAAP ") for interim financial information and the United States Securities and Exchange Commission's rules and regulations for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for annual financial statements. Management believes the unaudited Consolidated Financial Statements contain all adjustments (consisting only of normal recurring adjustments) considered necessary for the fair presentation of the unaudited Consolidated Financial Statements as of September 30, 2015 and for the three- and nine-month periods ended September 30, 2015 and 2014 . The results of operations for the three- and nine-month periods ended September 30, 2015 are not necessarily indicative of the results to be expected for the full year. The preparation of the unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited Consolidated Financial Statements and the reported amounts of revenue and expenses during the period. Actual results may differ from the estimates used in preparing the unaudited Consolidated Financial Statements. Note 2 of Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 describes the most significant accounting policies used in the preparation of the unaudited Consolidated Financial Statements. There have been no significant changes in the Company's assumptions regarding significant accounting estimates and policies during the nine-month period ended September 30, 2015 .

New Accounting Pronouncements (

New Accounting Pronouncements (Notes)	9 Months Ended
	Sep. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Accounting Changes [Text Block]	New Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (" FASB ") issued Accounting Standards Update (" ASU ") No. 2015-03, which amends FASB Accounting Standards Codification (" ASC ") Subtopic 835-30, "Interest - Imputation of Interest." The amendments in this guidance require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability instead of as an asset. This guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. This guidance must be adopted retrospectively, wherein the balance sheet of each period presented should be adjusted to reflect the new guidance. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements. In May 2014, the FASB issued ASU No. 2014-09, which creates FASB ASC Topic 606, "Revenue from Contracts with Customers" and supersedes ASC Topic 605, "Revenue Recognition." The guidance replaces industry-specific guidance and establishes a single five-step model to identify and recognize revenue. The core principle of the guidance is that an entity should recognize revenue upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods or services. Additionally, the guidance requires the entity to disclose further quantitative and qualitative information regarding the nature and amount of revenues arising from contracts with customers, as well as other information about the significant judgments and estimates used in recognizing revenues from contracts with customers. In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date of ASU No. 2014-09 one year to interim and annual reporting periods beginning after December 15, 2017. This guidance may be adopted retrospectively or under a modified retrospective method where the cumulative effect is recognized at the date of initial application. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements and disclosures included within Notes to Consolidated Financial Statements.

Property, Plant and Equipment,

Property, Plant and Equipment, Net (Notes)	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment, Net [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following (in millions): As of Depreciable Life September 30, December 31, 2015 2014 Utility plant in-service: Electric generation 40 - 125 years $ 1,104 $ 1,036 Electric distribution 20 - 70 years 1,369 1,321 Electric transmission 50 - 70 years 728 719 Electric general and intangible plant 5 - 65 years 134 123 Natural gas distribution 40 - 70 years 371 366 Natural gas general and intangible plant 8 - 10 years 13 13 Common general 5 - 65 years 245 234 Utility plant in-service 3,964 3,812 Accumulated depreciation and amortization (1,364 ) (1,300 ) Utility plant in-service, net 2,600 2,512 Construction work-in-progress 89 128 Property, plant and equipment, net $ 2,689 $ 2,640

Regulatory Matters (Notes)

Regulatory Matters (Notes)	9 Months Ended
	Sep. 30, 2015
Regulatory Assets and Liabilities Disclosure [Abstract]
Regulatory Matters	Regulatory Matters Deferred Energy Nevada statutes permit regulated utilities to adopt deferred energy accounting procedures. The intent of these procedures is to ease the effect on customers of fluctuations in the cost of purchased natural gas, fuel and electricity and are subject to annual prudency review by the Public Utilities Commission of Nevada (" PUCN "). Under deferred energy accounting, to the extent actual fuel and purchased power costs exceed fuel and purchased power costs recoverable through current rates that excess is not recorded as a current expense on the Consolidated Statements of Operations but rather is deferred and recorded as a regulatory asset on the Consolidated Balance Sheets. Conversely, a regulatory liability is recorded to the extent fuel and purchased power costs recoverable through current rates exceed actual fuel and purchased power costs. These excess amounts are reflected in quarterly adjustments to rates and recorded as cost of fuel, energy and capacity in future time periods. Energy Efficiency Implementation Rates and Energy Efficiency Program Rates In July 2010, regulations were adopted by the PUCN that authorizes an electric utility to recover lost revenue that is attributable to the measurable and verifiable effects associated with the implementation of efficiency and conservation programs approved by the PUCN through energy efficiency implementation rates (" EEIR "). As a result, the Company files annually to adjust energy efficiency program rates (" EEPR ") and EEIR for over- or under-collected balances, which are effective in October of the same year. The PUCN 's final order approving the BHE Merger stipulated that the Company would not seek recovery of any lost revenue for calendar year 2014 in an amount that exceeded 50% of the lost revenue that the Company could otherwise request. In February 2014, the Company filed an application with the PUCN to reset the EEIR and EEPR . In June 2014, the PUCN accepted a stipulation to adjust the EEIR , as of July 1, 2014, to collect 50% of the estimated lost revenue that the Company would otherwise be allowed to recover for the 2014 calendar year. The EEIR was effective from July through December 2014, reset on January 1, 2015 and was in effect through September 2015. To the extent the Company's earned rate of return exceeds the rate of return used to set base general rates, the Company is required to refund to customers EEIR revenue collected. In February 2015, the Company filed an application to reset the EEIR and EEPR . In August 2015, the PUCN accepted a stipulation for the Company to calculate the base EEIR using a revised methodology for calculating lost revenue and for the Company to make a $1 million reduction to the EEPR revenue requirement to more accurately reflect the actual level of spending and to minimize any over collection from its customers. The reset of the EEIR and EEPR was effective October 1, 2015 and remains in effect through September 30, 2016. The current EEIR liability is $2 million , which is included in current regulatory liabilities on the Consolidated Balance Sheets as of September 30, 2015 . General Rate Case In connection with Nevada Power's general rate case filing in May 2014, as required by the PUCN , the Company made a "companion filing" for the purpose of documenting the costs and benefits of the Company's investment in the advanced service delivery program. In October 2014, the PUCN issued an order in the companion filing issued with the general rate case order that, among other things, provided for the implementation of new rates effective January 1, 2015 to begin recovery of costs associated with advance service delivery. The recovery of advanced service delivery costs will increase annual revenue approximately $10 million . As a result of the PUCN order in the companion filing issued with the Nevada Power general rate case order, the Company recorded $7 million in asset impairments related to property, plant and equipment and $1 million of regulatory asset impairments, which are included in operating and maintenance on the Consolidated Statements of Operations for the three- and nine-month periods ended September 30, 2014. 2013 Federal Energy Regulatory Commission (" FERC ") Transmission Rate Case In May 2013, the Company, along with Nevada Power, filed an application with the FERC to establish single system transmission and ancillary service rates. The combined filing requested incremental rate relief of $17 million annually to be effective January 1, 2014. In August 2013, the FERC granted the companies' request for a rate effective date of January 1, 2014 subject to refund, and set the case for hearing or settlement discussions. On January 1, 2014, the Company implemented the filed rates in this case subject to refund as set forth in the FERC 's order. In September 2014, the Company, along with Nevada Power, filed an unopposed settlement offer with the FERC on behalf of NV Energy and the intervening parties providing rate relief of $4 million . The settlement offer would resolve all outstanding issues related to this case. In addition, a preliminary order from the administrative law judge granting the motion for interim rate relief was issued, which authorizes the Company to institute the interim rates effective September 1, 2014, and begin billing transmission customers under the settlement rates for service provided on and after that date. In January 2015, the FERC approved the settlement and refunds were issued .

Employee Benefit plans (Notes)

Employee Benefit plans (Notes)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company is a participant in benefit plans sponsored by NV Energy. The NV Energy Retirement Plan includes a qualified pension plan ("Qualified Pension Plan") and a supplemental executive retirement plan and a restoration plan (collectively, "Non‑Qualified Pension Plans") that provide pension benefits for eligible employees. The NV Energy Comprehensive Welfare Benefit and Cafeteria Plan provides certain postretirement health care and life insurance benefits for eligible retirees ("Other Postretirement Plans") on behalf of the Company. Amounts attributable to the Company were allocated from NV Energy based upon the current, or in the case of retirees, previous, employment location. Offsetting regulatory assets and liabilities have been recorded related to the amounts not yet recognized as a component of net periodic benefit costs that will be included in regulated rates. Net periodic benefit costs not included in regulated rates are included in accumulated other comprehensive loss, net. Amounts payable to NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of September 30, December 31, 2015 2014 Qualified Pension Plan - Other long-term liabilities $ (13 ) $ (13 ) Non-Qualified Pension Plans: Other current liabilities (1 ) (1 ) Other long-term liabilities (10 ) (10 ) Other Postretirement Plans - Other long-term liabilities (34 ) (33 )

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying value of the Company's cash, certain cash equivalents, receivables, payables, accrued liabilities and short-term borrowings approximates fair value because of the short-term maturity of these instruments. The Company has various financial assets and liabilities that are measured at fair value on the Consolidated Financial Statements using inputs from the three levels of the fair value hierarchy. A financial asset or liability classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels are as follows: • Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. • Level 2 - Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 - Unobservable inputs reflect the Company's judgments about the assumptions market participants would use in pricing the asset or liability since limited market data exists. The Company develops these inputs based on the best information available, including its own data. The Company's long-term debt is carried at cost on the Consolidated Balance Sheets. The fair value of the Company's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of the Company's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of the Company's long-term debt (in millions): As of September 30, 2015 As of December 31, 2014 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,173 $ 1,266 $ 1,174 $ 1,301

Commitments and Contingencies (

Commitments and Contingencies (Notes)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Environmental Laws and Regulations The Company is subject to federal, state and local laws and regulations regarding air and water quality, renewable portfolio standards, emissions performance standards, climate change, coal combustion byproduct disposal, hazardous and solid waste disposal, protected species and other environmental matters that have the potential to impact the Company's current and future operations. The Company believes it is in material compliance with all applicable laws and regulations. Valmy Generation Station In June 2009, the Company received a request for information from the Environmental Protection Agency Region 9 under Section 114 of the Clean Air Act requesting current and historical operations and capital project information for the Company's Valmy Generating Station located in Valmy, Nevada. The Company co-owns and operates this coal-fueled generating facility. Idaho Power Company owns the remaining 50% . The Environmental Protection Agency's Section 114 information request does not allege any incidents of non-compliance at the plant, and there have been no other new enforcement-related proceedings that have been initiated by the Environmental Protection Agency relating to the plant. The Company completed its responses to the Environmental Protection Agency in December 2009 and will continue to monitor developments relating to this Section 114 request. At this time, the Company cannot predict the impact, if any, associated with this information request. Legal Matters The Company is party to a variety of legal actions arising out of the normal course of business. Plaintiffs occasionally seek punitive or exemplary damages. The Company does not believe that such normal and routine litigation will have a material impact on its consolidated financial results. The Company is also involved in other kinds of legal actions, some of which assert or may assert claims or seek to impose fines, penalties and other costs in substantial amounts and are described below. Caughlin Fire On November 18, 2011, a fire was reported in the hills near Reno, Nevada (the "Caughlin Fire"). In January 2012, the Reno Fire Department issued a report in which they opined that "this fire was most likely the result of an electrical event in the area," and that "something such as a tree branch hitting the power-line" was a likely cause of the fire. Subrogation lawsuits and individual claimant lawsuits have been filed against the Company in relation to the Caughlin Fire. The subrogation lawsuits have been brought by various insurance companies, and involve similar causes of action (negligence, inverse condemnation, trespass, nuisance, subrogation and strict liability). The individual lawsuits mostly alleged similar causes of action as outlined in the subrogation claims. The Company reached settlement of all the subrogation lawsuits in July 2014, which did not have a material impact to the Company. In February 2015, all but one of the remaining individual plaintiffs entered into a settlement agreement. This settlement agreement did not have a material impact on the Company. In September 2015, the one remaining individual plaintiff claim was resolved, which did not have a material impact to the Company. While no additional claims are known at this time, the Company cannot assess or predict if any other litigation may be brought on this matter. Touch America Holdings In January 2015, Brent Williams as Trustee of Touch America Holdings ("Touch America") filed a complaint in the United States Bankruptcy Court for the District of Delaware against the Company alleging Touch America owns certain underground communications conduit located at various places in the western United States that the Company also claims to own. The conduit at issue was located between Reno, Nevada and Spanish Fork, Utah as part of a larger duct bank system. In March 2015, the Company filed a response to the complaint and asserted a counterclaim to the conduit. In June 2015, the Company finalized terms and conditions with a third party quitclaiming its interest in the assets at issue in this case. In September 2015, Touch America and the Company reached an agreement dismissing the Company from the suit. The agreement was subsequently filed and the Company was effectively dismissed from this matter.

Segment Information (Notes)

Segment Information (Notes)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has identified two reportable operating segments: regulated electric and regulated natural gas. The regulated electric segment derives most of its revenue from regulated retail sales of electricity to residential, commercial, and industrial customers and from wholesale sales. The regulated natural gas segment derives most of its revenue from regulated retail sales of natural gas to residential, commercial, and industrial customers and also obtains revenue by transporting natural gas owned by others through its distribution system. Pricing for regulated electric and regulated natural gas sales are established separately by the PUCN; therefore, management also reviews each segment separately to make decisions regarding allocation of resources and in evaluating performance. The Company believes presenting gross margin allows the reader to assess the impact of the Company's regulatory treatment and its overall regulatory environment on a consistent basis and is meaningful. Gross margin is calculated as operating revenue less cost of fuel, energy and capacity and natural gas purchased for resale ("Cost of sales"). The following tables provide information on a reportable segment basis (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2015 2014 2015 2014 Operating revenue: Regulated electric $ 228 $ 233 $ 625 $ 589 Regulated gas 18 18 94 83 Total operating revenue $ 246 $ 251 $ 719 $ 672 Cost of sales: Regulated electric $ 96 $ 103 $ 294 $ 269 Regulated gas 7 7 57 48 Total cost of sales $ 103 $ 110 $ 351 $ 317 Gross margin: Regulated electric $ 132 $ 130 $ 331 $ 320 Regulated gas 11 11 37 35 Total gross margin $ 143 $ 141 $ 368 $ 355 Operating and maintenance: Regulated electric $ 36 $ 42 $ 103 $ 106 Regulated gas 5 5 13 14 Total operating and maintenance $ 41 $ 47 $ 116 $ 120 Depreciation and amortization: Regulated electric $ 24 $ 23 $ 72 $ 68 Regulated gas 4 4 12 11 Total depreciation and amortization $ 28 $ 27 $ 84 $ 79 Operating income: Regulated electric $ 65 $ 59 $ 136 $ 129 Regulated gas 1 1 10 8 Total operating income $ 66 $ 60 $ 146 $ 137 Interest expense: Regulated electric $ 14 $ 14 $ 42 $ 42 Regulated gas 2 2 4 4 Total interest expense $ 16 $ 16 $ 46 $ 46 As of September 30, December 31, 2015 2014 Total assets: Regulated electric $ 3,017 $ 3,031 Regulated gas 316 327 Regulated common assets (1) 160 30 Total assets $ 3,493 $ 3,388 (1) Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments.

Property, Plant and Equipment15

Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment, Net [Abstract]
Property, Plant, and Equipment, Net	Property, plant and equipment, net consists of the following (in millions): As of Depreciable Life September 30, December 31, 2015 2014 Utility plant in-service: Electric generation 40 - 125 years $ 1,104 $ 1,036 Electric distribution 20 - 70 years 1,369 1,321 Electric transmission 50 - 70 years 728 719 Electric general and intangible plant 5 - 65 years 134 123 Natural gas distribution 40 - 70 years 371 366 Natural gas general and intangible plant 8 - 10 years 13 13 Common general 5 - 65 years 245 234 Utility plant in-service 3,964 3,812 Accumulated depreciation and amortization (1,364 ) (1,300 ) Utility plant in-service, net 2,600 2,512 Construction work-in-progress 89 128 Property, plant and equipment, net $ 2,689 $ 2,640

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Amounts Recognized in Balance Sheet	Amounts payable to NV Energy are included on the Consolidated Balance Sheets and consist of the following (in millions): As of September 30, December 31, 2015 2014 Qualified Pension Plan - Other long-term liabilities $ (13 ) $ (13 ) Non-Qualified Pension Plans: Other current liabilities (1 ) (1 ) Other long-term liabilities (10 ) (10 ) Other Postretirement Plans - Other long-term liabilities (34 ) (33 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The following table presents the carrying value and estimated fair value of the Company's long-term debt (in millions): As of September 30, 2015 As of December 31, 2014 Carrying Fair Carrying Fair Value Value Value Value Long-term debt $ 1,173 $ 1,266 $ 1,174 $ 1,301

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables provide information on a reportable segment basis (in millions): Three-Month Periods Nine-Month Periods Ended September 30, Ended September 30, 2015 2014 2015 2014 Operating revenue: Regulated electric $ 228 $ 233 $ 625 $ 589 Regulated gas 18 18 94 83 Total operating revenue $ 246 $ 251 $ 719 $ 672 Cost of sales: Regulated electric $ 96 $ 103 $ 294 $ 269 Regulated gas 7 7 57 48 Total cost of sales $ 103 $ 110 $ 351 $ 317 Gross margin: Regulated electric $ 132 $ 130 $ 331 $ 320 Regulated gas 11 11 37 35 Total gross margin $ 143 $ 141 $ 368 $ 355 Operating and maintenance: Regulated electric $ 36 $ 42 $ 103 $ 106 Regulated gas 5 5 13 14 Total operating and maintenance $ 41 $ 47 $ 116 $ 120 Depreciation and amortization: Regulated electric $ 24 $ 23 $ 72 $ 68 Regulated gas 4 4 12 11 Total depreciation and amortization $ 28 $ 27 $ 84 $ 79 Operating income: Regulated electric $ 65 $ 59 $ 136 $ 129 Regulated gas 1 1 10 8 Total operating income $ 66 $ 60 $ 146 $ 137 Interest expense: Regulated electric $ 14 $ 14 $ 42 $ 42 Regulated gas 2 2 4 4 Total interest expense $ 16 $ 16 $ 46 $ 46 As of September 30, December 31, 2015 2014 Total assets: Regulated electric $ 3,017 $ 3,031 Regulated gas 316 327 Regulated common assets (1) 160 30 Total assets $ 3,493 $ 3,388 (1) Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments.

Property, Plant and Equipment19

Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Utility plant in-service:
Utility plant in-service	$ 3,964	$ 3,812
Accumulated depreciation and amortization	(1,364)	(1,300)
Utility plant in-service, net	2,600	2,512
Construction work-in-progress	89	128
Property, plant and equipment, net	2,689	2,640
Electric Operations [Member]
Utility plant in-service:
Generation	1,104	1,036
Distribution	1,369	1,321
Transmission	728	719
General and intangible plant	134	123
Natural Gas Operations [Member]
Utility plant in-service:
Distribution	371	366
General and intangible plant	13	13
Common Facilities [Member]
Utility plant in-service:
Common general	$ 245	$ 234
Minimum [Member] | Electric Generation Equipment [Member] | Electric Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years	40 years
Minimum [Member] | Electric Distribution [Member] | Electric Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years	20 years
Minimum [Member] | Electric Transmission [Member] | Electric Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	50 years	50 years
Minimum [Member] | Other Energy Equipment [Member] | Electric Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years	5 years
Minimum [Member] | Gas Distribution [Member] | Natural Gas Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years	40 years
Minimum [Member] | Other Gas [Member] | Natural Gas Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	8 years	8 years
Minimum [Member] | Common Facilities [Member] | Common Facilities [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years	5 years
Maximum [Member] | Electric Generation Equipment [Member] | Electric Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	125 years	125 years
Maximum [Member] | Electric Distribution [Member] | Electric Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	70 years	70 years
Maximum [Member] | Electric Transmission [Member] | Electric Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	70 years	70 years
Maximum [Member] | Other Energy Equipment [Member] | Electric Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	65 years	65 years
Maximum [Member] | Gas Distribution [Member] | Natural Gas Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	70 years	70 years
Maximum [Member] | Other Gas [Member] | Natural Gas Operations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years	10 years
Maximum [Member] | Common Facilities [Member] | Common Facilities [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	65 years	65 years

Regulatory Matters - General Di

Regulatory Matters - General Disclosures (Details) - USD ($) $ in Millions	1 Months Ended				12 Months Ended
	Sep. 30, 2015	Aug. 31, 2015	Oct. 31, 2014	May. 31, 2013	Dec. 31, 2014
Public Utilities Commission, Nevada [Member] | Energy Efficiency Rate Case [Member]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Reduction in revenue requirement		$ 1
Customer refund liability, current	$ 2
Public Utilities Commission, Nevada [Member] | General Rate Case Companion [Member]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount			$ 10
Public Utilities, Property, Plant and Equipment, Amount of Disallowed Costs for Recently Completed Plant					$ 7
Amount of Impairment to Carrying Amount of Regulatory Assets					$ 1
Federal Energy Regulatory Commission [Member] | 2013 FERC Transmission Rate Case [Member]
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount				$ 17
Public Utilities, Approved Rate Increase (Decrease), Amount	$ 4
BHE Merger
Public Utilities, General Disclosures [Line Items]
Recovery of loss on revenues					50.00%

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - NV Energy [Member] - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Qualified Pension Plans [Member]
Amounts Recognized in Balance Sheet [Abstract]
Other long-term liabilities	$ 13	$ 13
Non-Qualified Pension Plans [Member]
Amounts Recognized in Balance Sheet [Abstract]
Other long-term liabilities	10	10
Other current liabilities	1	1
Other Postretirement Plans [Member]
Amounts Recognized in Balance Sheet [Abstract]
Other long-term liabilities	$ 34	$ 33

Fair Value Measurements - Debt

Fair Value Measurements - Debt (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 1,173	$ 1,174
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 1,266	$ 1,301

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - Claims	Sep. 30, 2015	Feb. 28, 2015
Subrogation Lawsuit [Member] | Caughlin Fire [Member]
Loss Contingencies [Line Items]
Loss Contingency, Number of Claims Settled		1
Valmy Generating Station [Member] | Idaho Power Company [Member]
Loss Contingencies [Line Items]
Company share	50.00%

Segment Information Segment Rep

Segment Information Segment Reporting (Details)	9 Months Ended
	Sep. 30, 2015TheNumberOfReportableSegments
Segment Reporting [Abstract]
Number of Reportable Segments	2

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Regulated electric		$ 228	$ 233	$ 625	$ 589
Regulated natural gas		18	18	94	83
Revenues		246	251	719	672
Cost of fuel, energy and capacity		96	103	294	269
Natural gas purchased for resale		7	7	57	48
Cost of Sales		103	110	351	317
Gross Margin		143	141	368	355
Operating and maintenance		41	47	116	120
Depreciation and amortization		28	27	84	79
Operating Income (Loss)		66	60	146	137
Interest Expense		16	16	46	46
Assets		3,493		3,493		$ 3,388
Electric Operations [Member]
Segment Reporting Information [Line Items]
Gross Margin		132	130	331	320
Operating and maintenance		36	42	103	106
Depreciation and amortization		24	23	72	68
Operating Income (Loss)		65	59	136	129
Interest Expense		14	14	42	42
Assets		3,017		3,017		3,031
Natural Gas Operations [Member]
Segment Reporting Information [Line Items]
Gross Margin		11	11	37	35
Operating and maintenance		5	5	13	14
Depreciation and amortization		4	4	12	11
Operating Income (Loss)		1	1	10	8
Interest Expense		2	$ 2	4	$ 4
Assets		316		316		327
Regulated common assets [Member]
Segment Reporting Information [Line Items]
Assets	[1]	$ 160		$ 160		$ 30
[1]	(1)Consists principally of cash and cash equivalents not included in either the regulated electric or regulated natural gas segments.