Exhibit 99.1


LAS VEGAS, (April 26) Sierra Pacific Resources  and Enron Corp announced today
they have mutually agreed to terminate their purchase and sale agreement for
Enron's wholly owned electric utility subsidiary, Portland General Electric
(PGE).

"While this acquisition would have offered many efficiencies in utility
distribution for customers in both Nevada and Oregon, completing it was becoming
increasingly difficult in the current market and political environment in the
west," said Walt Higgins, chairman and CEO of Sierra Pacific Resources.
"Terminating this agreement now minimizes further costs to our shareholders as
we continue to focus our attention on customers in Nevada and the Lake Tahoe
region of California."

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.