Exhibit 99.1

LAS VEGAS, (April 18) Sierra Pacific Resources issued a press release saying
that Nevada has taken the kind of decisive step required by the western energy
crisis, Nevada utility officials today applauded the Nevada Legislature and
Governor Kenny Guinn for their rapid action on emergency legislation that will
assure the continued creditworthiness of the utilities while protecting
consumers from unexpected rate hikes.

The Nevada Legislature today passed Assembly Bill 369, which allows the
utilities to recover their soaring costs for wholesale power over time. The
bill's deferred accounting method eases fears of rate hikes during the summer
but assures lenders, investors and power suppliers the utilities will continue
to meet their financial obligations. The bill also repeals electric deregulation
in Nevada and places a moratorium on the sale of power plants in the state.

"This was a bold move by the legislature and the governor to focus on the real
problem that threatened every consumer and business in Nevada," said Walt
Higgins, chairman, president and CEO of Sierra Pacific Resources (NYSE: SRP -
                                                                        ---
news), the parent company for the state's two largest utilities, Sierra Pacific
- ----
Power and Nevada Power Company. "There were many investors, power developers,
citizens and potential business prospects who have been waiting to see if Nevada
would deal with this issue -- and they now have their answer."

"This is an elegant solution that protects consumers from sticker shock by
delaying and spreading any increases out over time, while offering our business
partners the immediate assurance that our creditworthiness is strong," Higgins
added.

The measure passed both the Senate and Assembly today and was signed into law by
Governor Guinn. As an emergency measure, it is effective immediately. Under the
provisions of the legislation, rates would be continued at their April 1, 2001,
levels, reflecting all recent increases to date, and remain stable until early
next year, at which time they would be adjusted to reflect the actual costs of
wholesale power and fuel over that period. If wholesale costs remain high, the
legislation allows for the rates to be spread out over several years.

"We're gratified by the action taken by the Legislature and Governor on behalf
of consumers in Nevada," Higgins said.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose
principal subsidiaries are Nevada Power Company, the electric utility for
southern Nevada, and Sierra Pacific Power Company, the electric utility for most
of northern Nevada and the Lake Tahoe area of California, and a natural gas and
water distributor in the Reno-Sparks area. Other subsidiaries include the
Tuscarora Gas Pipeline Company, which owns 50% interest in an interstate natural
gas transmission partnership and Sierra Pacific Communications, a
telecommunications company.