Nevada Power Company to Acquire Bighorn Electric Generating Plant

THIS IS A PRESS RELEASE, NOT A NEWS STORY
By Sierra Pacific and Reliant Energy
Release April 22, 2008

LAS VEGAS AND HOUSTON – Nevada Power Company, a wholly owned subsidiary of Sierra Pacific Resources (NYSE: SRP), has reached an agreement with Reliant Energy, Inc. (NYSE: RRI) to acquire Reliant’s Bighorn Generating Station, a 598-megawatt natural gas-fired, combined-cycle power plant located near Primm, Nevada, approximately 35 miles south of Las Vegas.

Under terms of the agreement, which is subject to certain state and federal regulatory approvals, Nevada Power will pay approximately $500 million for the plant, plus related inventory.

The companies expect the acquisition’s closing to occur later this year following required approvals by the Public Utilities Commission of Nevada, the Federal Energy Regulatory Commission and Hart-Scott-Rodino review.

Commissioned in 2004, Bighorn utilizes "dry-cooling" technology to conserve the area’s water resources. In 2007, the plant was recognized by OSHA’s (Occupational Safety and Health Administration) Voluntary Protection Program, and received a VPP Star designation.

Goldman, Sachs & Co. and J.P. Morgan Securities Inc. are serving as financial advisors for Nevada Power and Reliant, respectively.

About Reliant Energy
Reliant Energy, Inc. (NYSE: RRI) based in Houston, Texas, provides electricity and energy services to retail and wholesale customers in the United States. In Texas, the company provides service to approximately 1.8 million retail electricity customers, including residential and small business customers and commercial, industrial, governmental and institutional customers. Reliant also serves commercial, industrial, governmental and institutional customers in the PJM (Pennsylvania, New Jersey and Maryland), Illinois and New York markets.

The company is one of the largest independent power producers in the nation with approximately 16,000 megawatts of power generation capacity across the United States. These strategically located generating assets utilize natural gas, fuel oil and coal. For more information, visit http://www.reliant.com.

About Sierra Pacific Resources and Nevada Power
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 also distributes natural gas in the Reno-Sparks area of northern Nevada.

Nevada Power is a regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy in the communities of Las Vegas, North Las Vegas, Henderson, Searchlight, Laughlin and their adjoining areas. Nevada Power also provides electricity to Nellis Air Force Base, the Department of Energy at Mercury and Jackass Flats at the Nevada Test Site. Nevada Power provides electricity to approximately 826,000 residential and business customers in a 4,500 square mile service area.

Original DOC file attached.