NV Energy

NV Energy

NV Energy (NYSE: NVE) is an investor-owned holding company based in Las Vegas, Nevada.

The company is a public utility which generates, transmits and distributes electric service in northern and southern Nevada, including the Las Vegas metropolitan area, and provides natural gas service in the Reno–Sparks metropolitan area of northern Nevada. It serves about 1.5 million customers and over 40 million tourists annually.[1]

NV Energy corporate headquarters in Las Vegas, NV

Contents

History

NV Energy was formed in 1928 as Sierra Pacific Power Company, the main power company for northern Nevada. However, its roots date back to the gold rush of the 1850s. In 1996, it reorganized as a holding company, Sierra Pacific Resources. In 1999, it merged with Las Vegas based Nevada Power Company. The merger created a company with a service territory stretching over 44,400 square miles--nearly all of Nevada's densely populated area.

On September 22, 2008, Nevada Power and Sierra Pacific Power began doing business as NV Energy. This is the result of the corporate decision to unify its image under a single brand. Later, it changed its corporate name to NV Energy, Inc.[2]

Customer Service Reliability

Electric distribution service reliability ranked among the best 25% of electric utilities nationwide in 2010, and was the best in the nation in 2009.[3] The rankings are based on interruption frequency[4] and interruption duration[5] compared to a peer group constructed by the Edison Electric Institute.

NV Energy corporate headquarters in Las Vegas, NV

Electric Sources

The company obtains the majority of its electricity from natural gas-fired sources. Coal provides less than 20%.[6] Eight of the company's nine coal-fired generating units have flue gas desulfurization equipment (scrubbers) installed to control sulfur dioxide emissions.

Major Projects

In May 2011, the company completed construction of the Harry Allen gas-fired generating plant below budget and ahead of schedule. Previously announced plans to construct two 750MW pulverized coal generation units near Ely have been deferred indefinitely.

The company is constructing the One Nevada (ONLine) transmission line to interconnect its northern and southern Nevada service territories.[7][8] The project is scheduled for completion by the end of 2012.

Subsidiaries

References

  1. ^ [1] SEC Form 10-K, year ended December 31, 2010
  2. ^ "Nevada Power and Sierra Pacific Power Renamed NV Energy" (Press release). Sierra Pacific Resources. 2008-09-22. http://investors.sierrapacificresources.com/phoenix.zhtml?c=117698&p=irol-newsArticle&ID=1199473&highlight=. Retrieved 2008-09-22. 
  3. ^ NV Energy investor presentation, September 2011, company website
  4. ^ SAIFI
  5. ^ SAIDI
  6. ^ NV Energy investor presentation, September 2011, company website
  7. ^ Jennifer Robison (2010-60-03). "Hot topic? How does ONLine grab you?: PUC hears all about plan for $510 million power line". Las Vegas Review-Journal. http://www.allbusiness.com/energy-utilities/utilities-industry-electric-powerity/14568715-1.html. 
  8. ^ Bureau of Land Management news release, October 19, 2010

External links

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