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) April 15, 2002
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Registrant, State of Incorporation, Address of
Commission File Principal Executive Offices and Telephone I.R.S. employer
Number Number Identification Number
1-8788 SIERRA PACIFIC RESOURCES 88-0198358
P.O. Box 10100 (6100 Neil Road)
Reno, Nevada 89520-0400 (89511)
(775) 834-4011
1-4698 NEVADA POWER COMPANY 88-0045330
6226 West Sahara Avenue
Las Vegas, Nevada 89146
(702) 367-5000
None
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(Former name, former address and former fiscal year,
if changed since last report)
Item 5. Other Events
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On April 15, 2002, Nevada Power Company (the "Company") filed a
Petition for Reconsideration of Certain Findings (the "Petition") with the
Public Utilities Commission of Nevada ("PUCN"), seeking reconsideration of the
recent decisions of the PUCN with respect to the Company's general rate case,
PUCN Docket No. 01-10001, and the Company's application for approval of new
revised depreciation rates, PUCN Docket No. 01-10002. In the Petition, the
Company raised six issues for reconsideration: the treatment of revenues related
to SO2 Allowances, in particular the calculation of the annual amortization
amount, which appears to be in error; the adjustment for "excess" capital
investment related to common facilities at the Harry Allen generating station;
the rejection of adjustments to accumulated depreciation reserves related to the
establishment of revised depreciation rates for transmission, distribution and
common facilities; the delay in allowing the Company to recover its merger costs
without the benefit of carrying charges; the finding that the Company has no
need for and is entitled to zero funds cash working capital; and the
establishment of a 10.1 percent return on equity.
At this time, the Company cannot predict how long it will take for the
Petition to be heard or the outcome of the proceeding. A copy of the Company's
April 15, 2002 filing is attached hereto as Exhibit 99.1.
The undersigned registrants hereby clarify their Current Reports on
Form 8-K, dated April 11, 2002, filed on April 15, 2002, regarding the Company's
lawsuit against the PUCN with respect to the PUCN's decision on the Company's
deferred energy rate case. The lawsuit was filed in the First Judicial District
Court of the State of Nevada in and for Carson City, and not in Federal District
Court as was inadvertently stated in the prior Current Reports on Form 8-K.
Item 7. Financial Statements and Exhibits
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(a) Financial Statements of Businesses Acquired
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Not required
(b) Pro forma financial information
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Not required
(c) Exhibits
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Nevada Power Company
99.1 - Nevada Power Company Petition for Reconsideration of Certain
Findings In re Application of Nevada Power Company for Authority to
Increase Its Annual Revenue Requirement for General Rates Charges to
All Classes of Electric Customers and for Relief Properly Related
Thereto, PUCN Docket No. 01-10001, and In re Application of Nevada
Power Company for Approval of New Revised Depreciation Rates, PUCN
Docket No. 01-10002, Before the Public Utilities Commission of Nevada.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrants have each duly caused this report to be signed on their behalf
by the undersigned, thereunto duly authorized.
Sierra Pacific Resources
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(Registrant)
Date: April 16, 2002 By: /s/ William E. Peterson
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William E. Peterson
Senior Vice President, General Counsel
and Corporate Secretary
Nevada Power Company
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(Registrant)
Date: April 16, 2002 By: /s/ William E. Peterson
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William E. Peterson
Senior Vice President, General Counsel
and Corporate Secretary
Exhibit Index
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Nevada Power Company
Exhibit 99.1 - Nevada Power Company Petition for Reconsideration of Certain
Findings In re Application of Nevada Power Company for Authority to Increase Its
Annual Revenue Requirement for General Rates Charges to All Classes of Electric
Customers and for Relief Properly Related Thereto, PUCN Docket No. 01-10001, and
In re Application of Nevada Power Company for Approval of New Revised
Depreciation Rates, PUCN Docket No. 01-10002, Before the Public Utilities
Commission of Nevada.