Exhibit 99.1

Las Vegas, Nevada (April 23) Sierra Pacific Resources' Board of Directors
announced today that the company will not be paying a common stock dividend
during the quarter ended June 30, 2002.

"Because of the company's weakened financial condition, we had no choice but to
suspend the common stock dividend," explained Walt Higgins, chairman, president
and chief executive officer of Sierra Pacific Resources.

Payment of future dividends will be determined by the company's Board of
Directors and will be subject to factors that ordinarily affect dividend policy,
such as earnings, cash flow, estimates of future earnings and cash flow,
business conditions, regulatory factors, financial condition and other matters.

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