EXHIBIT 12

                          

                                  EXHIBIT 12
                             NEVADA POWER COMPANY
               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                         AND PREFERRED STOCK DIVIDENDS
 


                           1994       1995        1996        1997       1998 
                         --------   --------    --------    --------   -------
                                                            
Fixed Charges:                                                                
                                                                              
Interest:                                                                     
  Long-Term Debt         $ 56,537   $ 59,900    $ 60,964    $ 70,267   $ 79,787
  Other Interest            2,572      1,566       2,584       1,531      6,018
                                                                               
One-third Rentals           1,203        807         961         982      1,132
                         --------   --------    --------    --------   --------
  Total Fixed                                                                  
    Charges                60,312     62,273      64,509      72,780     86,937
                         --------   --------    --------    --------   --------
Preferred Dividends                                                            
  Requirements              3,976      3,966       3,956       1,125        174
Ratio of Income Before                                                         
  Tax to Net Income          1.55       1.49        1.54        1.54       1.54
                         --------   --------    --------    --------   --------
  Total                     6,163      5,909       6,092       1,732        268
                         --------   --------    --------    --------   --------
Total Fixed Charges                                                            
  and Preferred                                                                
  Dividends              $ 66,475   $ 68,182    $ 70,601    $ 74,512   $ 87,205
                         ========   ========    ========    ========   ========
Earnings:                                                                      
                                                                               
Net Income (before                                                             
  preferred dividend                                                           
  requirements)          $ 81,870   $ 76,971    $ 78,868    $ 83,216   $ 83,673
Add:                                                                           
 Fixed Charges                                                                 
  (from above)             60,312     62,273      64,509      72,780     86,937
Taxes on Income            44,716     37,791      42,884      45,225     45,471
                         --------   --------    --------    --------   --------
Total Earnings for                                                             
  Purpose of Ratio       $186,898   $177,035    $186,261    $201,221   $216,081
                         ========   ========    ========    ========   ========
Ratio of Earnings                                                              
  to Fixed Charges and                                                         
  Preferred Dividends        2.81       2.60        2.64        2.70       2.48
                         ========   ========    ========    ========   ========