- Current report filing (8-K)
20 Oktober 2008 - 8:38PM
Edgar (US Regulatory)
UNITED
STATES
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)
October 14,
2008
|
|
|
|
|
|
|
Registrant,
State of Incorporation, Address of
|
|
I.R.S.
Employer
|
Commission
File
|
|
Principal
Executive Offices and Telephone
|
|
Identification
|
Number
|
|
Number
|
|
Number
|
|
|
|
|
|
1-08788
|
|
SIERRA
PACIFIC RESOURCES
|
|
88-0198358
|
|
|
Nevada
|
|
|
|
|
P.O.
Box 30150 (6100 Neil Road)
|
|
|
|
|
Reno,
Nevada 89520-0400 (89511)
|
|
|
|
|
(775)
834-4011
|
|
|
|
|
|
|
|
2-28348
|
|
NEVADA
POWER COMPANY d/b/a
|
|
88-0420104
|
|
|
NV
Energy
|
|
|
|
|
Nevada
|
|
|
|
|
6226
West Sahara Avenue
|
|
|
|
|
Las
Vegas, Nevada 89146
|
|
|
|
|
(702)
367-5000
|
|
|
None
(Former
name, former address and former fiscal year, if changed since last
report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
|
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR230.425)
|
|
|
|
o
|
|
Soliciting
material pursuant to Rule 14a-12(b) under the Exchange Act (17
CFR240.14a-12(b))
|
|
|
|
o
|
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17CFR 240.14d-2(b))
|
|
|
|
o
|
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17CFR 240.13e-4(c))
|
On October 14, 2008, Nevada Power
Company, d/b/a NV Energy, a wholly owned subsidiary of Sierra Pacific Resources
(SPR), borrowed $466.4 million at a rate of 4.50% under its revolving credit
facility with Wachovia Bank, N.A., as Administrative Agent. This,
along with a portion of existing cash on hand, will be used to fund the purchase
of the Bighorn Power Plant, as described in Item 8.01 below. For
additional information regarding the terms of the revolving credit facility, see
our Annual Report on Form 10-K and/or Form 10-K/A for the year ended December
31, 2007 and our Quarterly Reports on Form 10-Q for the quarters ended March 31,
2008 and June 30, 2008.
On
October 20, 2008, Nevada Power Company (NPC), d/b/a NV Energy, completed the
acquisition of the Bighorn Generating Facility for approximately $510 million,
including inventory and other closing costs and adjustments, pursuant to an
asset purchase agreement entered into on April 21, 2008 with Reliant Energy
Wholesale Generation, LLC, a Delaware limited liability company and Reliant
Energy Asset Management, LLC, a Delaware limited liability
company. The purchase was funded by a combination of a portion of
cash on hand and borrowings under NPC’s revolving credit facility, as described
in Item 2.03 above. The Bighorn facility was approved in NPC’s 8th
amendment to its Integrated Resource Plan on October 1, 2008 and is expected to
be included in NPC’s next General Rate Case to be filed in December
2008. The purchase price for the Bighorn facility is anticipated to
be recovered through rates beginning July 2009. The Bighorn facility
is nominally rated at approximately 598 MW and is located 35 miles south of Las
Vegas, Nevada in southern Clark County, Nevada.
These
statements contain forward-looking statements regarding the future performance
of NPC, d/b/a NV Energy, within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are subject to a variety of
risks and uncertainties that could cause actual results to differ materially
from current expectations. These risks and uncertainties include, but are not
limited to, NPC’s ability to obtain a favorable decision in its general rate
case to be filed with the Public Utilities Commission of Nevada in December of
2008. Additional cautionary statements regarding other risk factors
that could have an effect on the future performance of NPC, d/b/a NV Energy, are
contained in its Annual Report on Form 10-K and/or Form 10-K/A for the year
ended December 31, 2007 and in its Quarterly Reports on Form 10-Q for the
quarters ended March 31, 2008 and June 30, 2008, filed with the
SEC. NPC, d/b/a NV Energy, undertakes no obligation to release
publicly the result of any revisions to these forward-looking statements that
may be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
A copy of
the press release announcing the completion of NPC’s acquisition of the Bighorn
facility is filed herewith as Exhibit 99.1.
(c)
Exhibits — The following exhibit is filed with this Form 8-K:
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
(Registrant)
|
|
|
|
|
|
Date: October
20, 2008
|
|
By:
|
|
/s/
E. Kevin Bethel
|
|
|
|
|
E.
Kevin Bethel
Chief
Accounting Officer
|
|
|
|
|
|
|
|
Nevada Power Company
d/b/a NV Energy
(Registrant)
|
|
|
|
|
|
Date:
October 20, 2008
|
|
By:
|
|
/s/
E. Kevin Bethel
|
|
|
|
|
E.
Kevin Bethel
Chief
Accounting Officer
|
Sierra Pacific (NYSE:SRP)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Sierra Pacific (NYSE:SRP)
Historical Stock Chart
Von Jun 2023 bis Jun 2024