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Article: Sierra Pacific, Nevada Power File Merger Application With Public Utilities Commission
- Article from:
- PR Newswire
- Article date:
- July 7, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RENO and LAS VEGAS, Nev. July 7 /PRNewswire/ -- Sierra Pacific Resources (NYSE: SRP) and Nevada Power Company (NYSE: NVP; PSE) filed a joint merger application today with the Public Utilities Commission of Nevada (PUCN). The application includes written testimony describing how the proposed merger will accelerate customer choice for electricity in Nevada. The testimony also explains the financial implications of the merger transaction.
Sale of Power Plants Proposed
In the filing, Nevada Power and Sierra Pacific propose selling their generating plants. Capital raised by the sale will be reinvested primarily in new transmission and distribution facilities to ...