Say NO to a 17\% rate increase from NV Energy

Say NO to NV Energy (Nevada Power) raising our rates by 17\%.....

They have NEW vehicles, NEW ads on TV, NEW billboards and their top 4 execs make a combined salary OVER $1.5 MILLION dollars....

Hmmm.... I wonder who's paying for all of that?

Just a little excerpt from their own website:

Sierra Pacific Resources Reports Third Quarter 2008 Earnings
LAS VEGAS, Nov. 3 /PRNewswire-FirstCall/ -- Sierra Pacific Resources (NYSE: SRP) today announced consolidated net income applicable to common stock of $150.8 million, or 64 cents per share, for the quarter ended September 30, 2008, compared with consolidated net income applicable to common stock of $152.2 million, or 69 cents per share, for the same period in 2007.

During the first nine months of 2008, the company earned $211 million, or 90 cents per share, compared with $193.6 million, or 87 cents per share, for the first nine months of 2007. The increase in earnings for the nine-month period was primarily the result of general rate increases at the company's utilities, Nevada Power Company and Sierra Pacific Power Company -- now both doing business as NV Energy -- and an increase in allowance for funds used during construction. These increases were partially offset by higher interest charges in 2008 on long-term debt and income recognized in 2007 as a result of the settlement with the PUCN regarding accrued interest charges.

Michael Yackira, president and chief executive officer of Sierra Pacific Resources, said, "We are pleased that our financial and operating results remain strong despite our slower rate of growth. We continue to concentrate on programs and infrastructure improvements within Nevada for Nevadans and we believe these actions are essential to meet the current and future energy demands for not only our state but the entire nation.

"In keeping with our core three-part energy supply strategy, we continue to focus on efficiency and conservation programs, moving forward with renewable energy developments, and adding more efficient generation facilities utilizing traditional technologies," Yackira said. "Just two weeks ago, we completed the acquisition of the 598-megawatt Bighorn Generation Facility in southern Nevada, which we will be renaming the Walter M. Higgins Generating Station in honor of our former Chairman and CEO. This past summer we added 600 megawatts of peaking capacity at our Clark Generating Station in Las Vegas. Earlier in the year, the 541-megawatt combined cycle generation unit was completed at our Tracy Generating Station, making the northern Nevada operations virtually energy independent for the first time."

Yackira added, "The current economic downturn has impacted our operations somewhat, but our state continues to grow. Major resort projects are scheduled to come on line in southern Nevada over the next two years. We will continue to deliver reliable service throughout our state."

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