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) November 14, 2002
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Registrant, State of Incorporation, Address I.R.S. employer
Commission File of Principal Executive Offices and Telephone Identification
Number Number 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
0-508 SIERRA PACIFIC POWER COMPANY 88-0044418
P.O. Box 10100 (6100 Neil Road)
Reno, Nevada 89520-0400 (89511)
(775) 834-4011
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 November 14, 2002, the federal bankruptcy court judge overseeing the
bankruptcy case of Enron Power Marketing, Inc. ("Enron") rendered an oral
decision relating to a motion filed by Nevada Power Company and Sierra Pacific
Power Company (the "Utilities") in connection with the lawsuit filed by Enron in
its bankruptcy case asserting claims for damages related to the termination of
its power supply agreements with the Utilities. The Utilities had filed a motion
to dismiss or stay the proceedings pending the outcome of the Federal Energy
Regulatory Commission ("FERC") proceeding against Enron brought by the Utilities
under Section 206 of the Federal Power Act challenging the contract prices of
the terminated power supply agreements. A draft decision of the administrative
law judge overseeing the FERC Section 206 proceedings is expected in December
2002.
The bankruptcy court judge denied the Utilities' motion to dismiss or
stay the proceedings pending the outcome of the Utilities' Section 206
complaints, with respect to $16 million for Nevada Power Company and $6 million
for Sierra Pacific Power Company, claimed by Enron for power previously
delivered by Enron to the Utilities under their terminated power contracts. The
judged deferred until after a further hearing on December 12, 2002, a ruling
with respect to the termination payments for undelivered power allegedly due
under the terminated contracts of $200 million and $87 million for Nevada Power
Company and Sierra Pacific Power Company, respectively. At this time, the
Utilities are not able to predict the outcome of a decision in Enron's
bankruptcy proceeding. For additional information regarding Enron's lawsuit
against the Utilities and the Utilities' Section 206 claims, see the Quarterly
Report on Form 10-Q filed by Nevada Power Company and Sierra Pacific Power
Company for the quarter ended September 30, 2002.
Item 7. Financial Statements and Exhibits
(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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None.
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: November 19, 2002 By: /s/ John E. Brown
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John E. Brown
Controller
Nevada Power Company
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(Registrant)
Date: November 19, 2002 By: /s/ John E. Brown
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John E. Brown
Controller
Sierra Pacific Power Company
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(Registrant)
Date: November 19, 2002 By: /s/ John E. Brown
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John E. Brown
Controller