NV Energy Reports Third Quarter Earnings

LAS VEGAS, Nov. 2, 2011 /PRNewswire/ -- NV Energy, Inc. (NYSE: NVE) today announced financial results for the three months and nine months ended September 30, 2011.

(Logo:  http://photos.prnewswire.com/prnh/20100825/LA55163LOGO)

NV Energy, Inc.

Consolidated Results

Periods Ended September 30














Net Income


EPS


($ in millions)


(diluted)


2011


2010


2011


2010

Three Months

$

173.5


$

177.5


$

0.73


$

0.75

Nine Months

$

188.7


$

212.8


$

0.80


$

0.90



"As expected, the completion of the new Harry Allen combined cycle plant was a key factor affecting our third quarter results," said Michael Yackira, president and chief executive officer of NV Energy, Inc.  "Harry Allen concludes our major investments in new efficient generation over the past five years. I am pleased that our continuing efforts to control spending helped mitigate the additional costs of this new plant."

The 2010 amounts in the table above incorporate an $8.0 million (pre-tax) accrual for the September 2010 termination of a long term service agreement(1). In the third quarter of 2011, after reaching a settlement with the vendor, NV Energy reversed the accrued termination costs.  The reversal benefitted results for the three and nine months ended September 30, 2011 by $8.0 million (pre-tax).

Results for the nine months ended September 30, 2011 were adversely affected by $8.6 million of pre-tax adjustments in connection with energy efficiency implementation rates as previously disclosed.

Results for both periods ended September 30, 2010 reflect the results of NV Energy's California operations, which were sold effective January 1, 2011. Results for the nine months ended September 30, 2010 also reflect a $7.6 million pre-tax gain on a May 2010 asset sale as previously disclosed.

(1) A revision to the September 30, 2010 SEC Form 10-Q as disclosed in the SEC Form 10-K for the fiscal year ended December 31, 2010.

Webcast Scheduled for 7 a.m. PDT today, Wednesday, November 2, 2011

Senior management of NV Energy will review the company's third quarter 2011 financial results and other matters during a conference call and live webcast today, Wednesday, November 2, at 7 a.m. Pacific Daylight Time.

The webcast will be accessible on the NV Energy website at: www.nvenergy.com.

A taped replay will remain on the company's website for approximately 30 days.  To listen to the replay by telephone, call (800) 475-6701. International callers should dial (320) 365-3844. Use the conference call access code, 219843.

Headquartered in Las Vegas, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. Serving a combined 45,592 square-mile service territory, NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada and nearly 40 million tourists annually.

This press release may contain forward-looking statements regarding the future performance of NV Energy, Inc. and its subsidiaries, Nevada Power Company and Sierra Pacific Power Company both 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, NV Energy Inc.'s ability to maintain access to the capital markets, NV Energy Inc.'s ability to receive dividends from its subsidiaries, the financial performance of NV Energy Inc.'s subsidiaries, particularly Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, and the discretion of NV Energy Inc.'s Board of Directors with respect to the payment of future dividends based on its periodic review of factors that ordinarily affect dividend policy, such as current and prospective financial condition, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in NV Energy Inc.'s and its subsidiaries' financing agreements. For Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy, these risks and uncertainties include, but are not limited to, future economic conditions both nationally and regionally, changes in the rate of industrial, commercial and residential growth in their service territories, their ability to procure sufficient renewable energy sources in each compliance year to satisfy the Nevada Renewable Energy Portfolio Standard, changes in environmental laws and regulations, construction risks, their ability to maintain access to the capital markets for general corporate purposes and to finance construction projects, employee workforce factors, unseasonable weather, drought, threat of wildfire and other natural phenomena, explosions, fires, accidents, mechanical breakdowns that may occur while operating and maintaining an electric and natural gas system,  their ability to purchase sufficient fuel, natural gas and power to meet their power demands and natural gas demands for Sierra Pacific Power Company d/b/a NV Energy, financial market conditions, and unfavorable rulings in their pending and future regulatory filings. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of NV Energy, Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy are contained in their quarterly reports on Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011, and Annual Reports on Form 10-K for the year ended December 31, 2010, each filed with the Securities and Exchange Commission. NV Energy Inc., Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy undertake 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.  

NV ENERGY, INC.

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands, Except Per Share Amounts)

(Unaudited)





























Three Months Ended


Nine Months Ended



September 30,


September 30,



2011


2010


2011


2010














OPERATING REVENUES

$

1,017,796


$

1,128,039


$

2,333,710


$

2,625,211














OPERATING EXPENSES:













Fuel for power generation


216,779



247,233



519,920



650,514


Purchased power


223,348



249,854



518,672



522,538


Gas purchased for resale


10,137



10,823



87,753



101,536


Deferred energy


(33,620)



34,055



(43,678)



106,554


Other operating expenses


127,645



112,741



331,166



320,755


Maintenance


11,369



31,126



73,317



85,715


Depreciation and amortization


93,737



83,423



266,445



249,067


Taxes other than income


15,205



15,420



46,134



47,532

Total Operating Expenses


664,600



784,675



1,799,729



2,084,211

OPERATING INCOME


353,196



343,364



533,981



541,000














OTHER INCOME (EXPENSE):













Interest expense (net of AFUDC-debt: $1,326, $6,485,













$10,371 and $17,349)


(80,496)



(80,789)



(238,718)



(241,625)


Interest expense on regulatory items


(4,316)



(3,685)



(12,140)



(8,753)


AFUDC-equity


1,690



7,824



12,854



20,915


Other income


4,645



9,246



14,942



30,524


Other expense


(9,857)



(4,313)



(23,600)



(17,038)

Total Other Income (Expense)


(88,334)



(71,717)



(246,662)



(215,977)

Income Before Income Tax Expense


264,862



271,647



287,319



325,023














Income tax expense


91,400



94,101



98,639



112,252














NET INCOME

$

173,462


$

177,546


$

188,680


$

212,771














Amount per share basic and diluted













Net income per share - basic

$

0.74


$

0.76


$

0.80


$

0.91


Net income per share - diluted


0.73



0.75



0.80



0.90

Weighted Average Shares of Common Stock Outstanding - basic


235,990,373



235,117,058



235,796,321



234,991,208

Weighted Average Shares of Common Stock Outstanding - diluted


237,901,330



236,477,187



237,320,796



236,136,725

Dividends Declared Per Share of Common Stock                              

$

0.12


$

0.11


$

0.36


$

0.33
















NV ENERGY, INC.

CONSOLIDATED OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)



































ELECTRIC SALES - MWh's













(in thousands)



















Three Months Ended September 30,


Nine Months Ended September 30,









Change from






Change from





2011


2010


Prior Year


2011


2010


Prior Year

















Residential


4,322


4,409


(2.0)%


8,694


9,007


(3.5)%

Commercial


2,141


2,192


(2.3)%


5,472


5,616


(2.6)%

Industrial


2,713


2,799


(3.1)%


7,680


7,707


(0.4)%


TOTAL RETAIL


9,176


9,400


(2.4)%


21,846


22,330


(2.2)%

Other


65


67


(3.0)%


178


181


(1.7)%


TOTAL


9,241


9,467


(2.4)%


22,024


22,511


(2.2)%




ELECTRIC SALES - MWh's (EXCLUDING CALIFORNIA)*














(in thousands)

























Three Months Ended September 30,



Nine Months Ended September 30,












Average








Average







Change from


Change in




Change from


Change in





2011


2010


Prior Year


Customers


2011


2010


Prior Year


Customers
























Residential


4,322


4,354


(0.7)%


0.9%



8,694


8,801


(1.2)%


0.9%

Commercial


2,141


2,153


(0.6)%


0.5%



5,472


5,499


(0.5)%


0.6%

Industrial


2,713


2,775


(2.2)%


(3.0)%



7,680


7,621


0.8%


(1.7)%


TOTAL RETAIL


9,176


9,282


(1.1)%





21,846


21,921


(0.3)%




Other


65


67


(3.0)%





178


181


(1.7)%





TOTAL


9,241


9,349


(1.2)%


0.8%



22,024


22,102


(0.4)%


0.8%


























* Represents results for 2011 and 2010 excluding amounts related to the California operations which were sold on January 1, 2011.







GAS SALES - Dth












(in thousands)
















Three Months Ended September 30,



Nine Months Ended September 30,







Change from






Change from



2011


2010


Prior Year

2011


2010


Prior Year















TOTAL RETAIL


1,187


1,272


(6.7)%


10,593


10,108


4.8%



ELECTRIC SOURCES - MWh's











(in thousands)

















Three Months Ended September 30,


Nine Months Ended September 30,







Change from






Change from



2011


2010


Prior Year


2011


2010


Prior Year

Generated


6,180


6,263


(1.3)%


14,477


15,693


(7.7)%

Purchased


3,577


3,571


0.2%


9,081


7,854


15.6%

TOTAL


9,757


9,834





23,558


23,547






DEGREE DAYS
































Three Months Ended September 30,


Nine Months Ended September 30,








Change from






Change from




2011


2010


Prior Year


2011


2010


Prior Year

SOUTH














Heating


-


-


N/A


1,131


1,170


(3.3)%

Cooling


2,312


2,412


(4.1)%


3,329


3,418


(2.6)%
















NORTH














Heating


3


39


(92.3)%


3,201


3,023


5.9%

Cooling


848


767


10.6%


960


904


6.2%



CAPITAL STRUCTURE













(dollars in thousands)
















September 30, 2011


September 30, 2010

















Current maturities of long-term debt

$

136,139


1.6%



$

356,538


3.9%



Long-term debt


5,038,232


58.3%




5,313,407


58.8%



Total debt

$

5,174,371


59.9%



$

5,669,945


62.8%



Total shareholders' equity


3,465,689


40.1%




3,363,314


37.2%



Total capitalization (including current maturities of long-term debt)

$

8,640,060


100.0%



$

9,033,259


100.0%





AVAILABLE LIQUIDITY AS OF SEPTEMBER 30, 2011

(dollars in millions )
















NVE


NPC


SPPC

Cash and Cash Equivalents



$

32.9


$

34.8


$

66.3

Balance available on Revolving Credit Facilities




N/A



548.0



237.5


Less reduction for hedging transactions




N/A



(1.7)



(0.5)






$

32.9


$

581.1


$

303.3
















NEVADA POWER COMPANY

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands)

(Unaudited)





























Three Months Ended


Nine Months Ended



September 30,


September 30,



2011


2010


2011


2010














OPERATING REVENUES

$

798,914


$

870,950


$

1,662,880


$

1,836,144














OPERATING EXPENSES:













Fuel for power generation


162,976



181,100



378,790



469,282


Purchased power


181,733



216,309



399,707



412,276


Deferred energy


(10,354)



22,296



(1,274)



81,719


Other operating expenses


88,455



73,762



215,491



203,773


Maintenance


3,460



23,707



45,122



58,945


Depreciation and amortization


67,212



56,575



186,798



169,330


Taxes other than income


9,105



9,038



28,209



28,857

Total Operating Expenses


502,587



582,787



1,252,843



1,424,182

OPERATING INCOME


296,327



288,163



410,037



411,962














OTHER INCOME (EXPENSE):













Interest expense (net of AFUDC-debt: $842,













$5,787, $8,962 and $15,763)


(55,267)



(54,144)



(163,036)



(161,496)


Interest expense on regulatory items


(2,478)



(1,157)



(5,911)



(1,965)


AFUDC-equity


1,026



6,795



10,979



18,555


Other income


2,990



3,842



9,298



9,084


Other expense


(7,324)



(3,034)



(15,235)



(9,338)

Total Other Income (Expense)


(61,053)



(47,698)



(163,905)



(145,160)

Income Before Income Tax Expense


235,274



240,465



246,132



266,802














Income tax expense


80,666



81,537



84,481



90,416














NET INCOME

$

154,608


$

158,928


$

161,651


$

176,386


















NEVADA POWER COMPANY

CONSOLIDATED OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)















































ELECTRIC SALES - MWh's



















(in thousands)

























Three Months Ended September 30,


Nine Months Ended September 30,











Average








Average









Change from


Change in






Change from


Change in





2011


2010


Prior Year


Customers


2011


2010


Prior Year


Customers
























Residential


3,711


3,758


(1.3)%


1.1%



7,021


7,162


(2.0)%


1.1%

Commercial


1,319


1,327


(0.6)%


0.7%



3,307


3,322


(0.5)%


0.5%

Industrial


2,070


2,123


(2.5)%


(2.9) %



5,793


5,771


0.4%


(1.7)%


TOTAL RETAIL


7,100


7,208


(1.5)%





16,121


16,255


(0.8)%




Other


61


63


(3.2)%





166


169


(1.8)%





TOTAL


7,161


7,271


(1.5)%


1.0%



16,287


16,424


(0.8)%


1.0%




ELECTRIC SOURCES - MWh's











(in thousands)

















Three Months Ended September 30,


Nine Months Ended September 30,







Change from






Change from



2011


2010


Prior Year


2011


2010


Prior Year

Generated


4,879


4,738


3.0%


11,138


11,868


(6.2)%

Purchased


2,520


2,804


(10.1) %


5,821


5,211


11.7%

TOTAL


7,399


7,542





16,959


17,079






DEGREE DAYS
































Three Months Ended September 30,


Nine Months Ended September 30,








Change from






Change from




2011


2010


Prior Year


2011


2010


Prior Year















Heating


-


-


N/A


1,131


1,170


(3.3)%

Cooling


2,312


2,412


(4.1)%


3,329


3,418


(2.6)%



CAPITAL STRUCTURE













(dollars in thousands)
















September 30, 2011


September 30, 2010

















Current maturities of long-term debt

$

136,139


2.1%



$

356,538


5.3%



Long-term debt


3,352,044


52.4%




3,546,724


53.2%



Total debt

$

3,488,183


54.5%



$

3,903,262


58.5%



Total shareholders' equity


2,913,311


45.5%




2,764,475


41.5%



Total capitalization (including current maturities of long-term debt)

$

6,401,494


100.0%



$

6,667,737


100.0%





SIERRA PACIFIC POWER COMPANY

CONSOLIDATED INCOME STATEMENTS

(Dollars in Thousands)

(Unaudited)





























Three Months Ended


Nine Months Ended



September 30,


September 30,



2011


2010


2011


2010

OPERATING REVENUES:













Electric

$

202,263


$

237,798


$

545,462


$

649,337


Gas


16,615



19,286



125,357



139,711

Total Operating Revenues


218,878



257,084



670,819



789,048














OPERATING EXPENSES:













Fuel for power generation


53,803



66,133



141,130



181,232


Purchased power


41,615



33,545



118,965



110,262


Gas purchased for resale


10,137



10,823



87,753



101,536


Deferral of energy - electric - net


(22,095)



9,964



(45,924)



17,189


Deferral of energy - gas - net


(1,171)



1,795



3,520



7,646


Other operating expenses


38,529



38,004



113,432



114,371


Maintenance


7,909



7,419



28,195



26,770


Depreciation and amortization


26,525



26,848



79,647



79,737


Taxes other than income


6,052



6,330



17,675



18,494

Total Operating Expenses


161,304



200,861



544,393



657,237

OPERATING INCOME


57,574



56,223



126,426



131,811














OTHER INCOME (EXPENSE):













Interest expense (net of AFUDC-debt: $484,













$698, $1,409 and $1,586)


(16,861)



(16,983)



(50,581)



(51,141)


Interest expense on regulatory items


(1,838)



(2,528)



(6,229)



(6,788)


AFUDC-equity


664



1,029



1,875



2,360


Other income


1,448



2,379



4,677



14,276


Other expense


(2,255)



(1,285)



(7,403)



(7,555)

Total Other Income (Expense)


(18,842)



(17,388)



(57,661)



(48,848)

Income Before Income Tax Expense


38,732



38,835



68,765



82,963














Income tax expense


13,396



14,373



23,341



30,066














NET INCOME

$

25,336


$

24,462


$

45,424


$

52,897



















SIERRA PACIFIC POWER COMPANY

CONSOLIDATED OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS

(unaudited)



































ELECTRIC SALES - MWh's













(in thousands)



















Three Months Ended September 30,


Nine Months Ended September 30,









Change from






Change from





2011


2010


Prior Year


2011


2010


Prior Year


















Residential


611


651


(6.1)%



1,673


1,845


(9.3)%


Commercial


822


865


(5.0)%



2,165


2,294


(5.6)%


Industrial


643


676


(4.9)%



1,887


1,936


(2.5)%



TOTAL RETAIL


2,076


2,192


(5.3)%



5,725


6,075


(5.8)%


Other


4


4


N/A



12


12


-%



TOTAL


2,080


2,196


(5.3)%



5,737


6,087


(5.7)%






ELECTRIC SALES - MWh's (EXCLUDING CALIFORNIA)*














(in thousands)














Three Months Ended September 30,


Nine Months Ended September 30,











Average









Average







Change from


Change in




Change from



Change in





2011


2010


Prior Year


Customers


2011


2010


Prior Year



Customers
























Residential


611


596


2.5%



0.3%



1,673


1,639


2.1%



0.3%


Commercial


822


826


(0.5)%



0.1%



2,165


2,177


(0.6)%



0.8%


Industrial


643


652


(1.4)%



(4.2)%



1,887


1,850


2.0%



(1.8)%



TOTAL RETAIL


2,076


2,074


0.1%






5,725


5,666


1.0%





Other


4


4


N/A






12


12


-%






TOTAL


2,080


2,078


0.1%



0.2%



5,737


5,678


1.0%



0.4%


























*

Represents results for 2011 and 2010 excluding amounts related to the California operations which were sold on January 1, 2011.









GAS SALES - Dth












(in thousands)
















Three Months Ended September 30,


Nine Months Ended September 30,







Change from






Change from



2011


2010


Prior Year

2011


2010


Prior Year















TOTAL RETAIL


1,187


1,272


(6.7)%



10,593


10,108


4.8%





ELECTRIC SOURCES - MWh's











(in thousands)

















Three Months Ended September 30,


Nine Months Ended September 30,







Change from






Change from



2011


2010


Prior Year


2011


2010


Prior Year

Generated


1,301


1,525


(14.7)%


3,339


3,825


(12.7)%

Purchased


1,057


767


37.8%


3,260


2,643


23.3%

TOTAL


2,358


2,292





6,599


6,468








DEGREE DAYS
































Three Months Ended September 30,


Nine Months Ended September 30,








Change from






Change from




2011


2010


Prior Year


2011


2010


Prior Year















Heating


3


39


(92.3)%


3,201


3,023


5.9%

Cooling


848


767


10.6%


960


904


6.2%





CAPITAL STRUCTURE













(dollars in thousands)
















September 30, 2011


September 30, 2010

















Long-term debt

$

1,179,688


55.1%



$

1,281,138


55.8%



Total debt

$

1,179,688


55.1%



$

1,281,138


55.8%



Total shareholders' equity


961,386


44.9%




1,014,181


44.2%



Total capitalization (including current maturities of long-term debt)

$

2,141,074


100.0%



$

2,295,319


100.0%






Gross margin is presented by Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy in order to provide information that management believes aids the reader in determining how profitable the electric and gas business is at the most fundamental level. Gross margin, which is a "non-GAAP financial measure" as defined in accordance with SEC rules, provides a measure of income available to support the other operating expenses of the business and is utilized by management in its analysis of its business.

Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy believe presenting gross margin allows the reader to assess the impact of regulatory treatment and their overall regulatory environment on a consistent basis. Gross margin, as a percentage of revenue, is primarily impacted by the fluctuations in electric and natural gas supply costs versus the fixed rates collected from customers. While these fluctuating costs impact gross margin as a percentage of revenue, they only impact gross margin amounts if the costs cannot be passed through to customers. Gross margin, which Nevada Power Company and Sierra Pacific Power Company both d/b/a NV Energy calculate as operating revenues less energy costs, provides a measure of income available to support the other operating expenses. Gross margin changes are based primarily on general base rate adjustments (which are required to be filed by statute every three years). Reconciliations between GAAP operating income and gross margin are provided in tables herein. These non-GAAP measures should not be considered as substitutes for the GAAP measures.

NV Energy, Inc.  

Consolidated Gross Margin  

(dollars in thousands)  



Three Months Ended September 30,


Nine Months Ended September 30,









Change from








Change from



2011


2010


Prior Year %


2011



2010


Prior Year %

Operating Revenues:

$

1,017,796


$

1,128,039


(9.8)%


$

2,333,710


$

2,625,211


(11.1)%


















Energy Costs:

















Fuel for power generation


216,779



247,233


(12.3)%



519,920



650,514


(20.1)%


Purchased power


223,348



249,854


(10.6)%



518,672



522,538


(0.7)%


Gas purchased for resale


10,137



10,823


(6.3)%



87,753



101,536


(13.6)%


Deferred energy


(33,620)



34,055





(43,678)



106,554





$

416,644


$

541,965


(23.1)%


$

1,082,667


$

1,381,142


(21.6)%


















Gross Margin

$

601,152


$

586,074


2.6%


$

1,251,043


$

1,244,069


0.6%


















Other operating expenses


127,645



112,741





331,166



320,755



Maintenance


11,369



31,126





73,317



85,715



Depreciation and amortization


93,737



83,423





266,445



249,067



Taxes other than income


15,205



15,420





46,134



47,532




















Operating Income

$

353,196


$

343,364


2.9%


$

533,981


$

541,000


(1.3)%




Nevada Power Company  

Gross Margin  

(dollars in thousands)  



Three Months Ended September 30,


Nine Months Ended September 30,









Change from








Change from



2011


2010


Prior Year %


2011



2010


Prior Year %

Operating Revenues:

$

798,914


$

870,950


(8.3)%


$

1,662,880


$

1,836,144


(9.4)%



































Energy Costs:

















Fuel for power generation


162,976



181,100


(10.0)%



378,790



469,282


(19.3)%


Purchased power


181,733



216,309


(16.0)%



399,707



412,276


(3.0)%


Deferred energy


(10,354)



22,296


(146.4)%



(1,274)



81,719


(101.6)%



$

334,355


$

419,705


(20.3)%


$

777,223


$

963,277


(19.3)%


















Gross Margin

$

464,559


$

451,245


3.0%


$

885,657


$

872,867


1.5%


















Other operating expenses


88,455



73,762





215,491



203,773



Maintenance


3,460



23,707





45,122



58,945



Depreciation and amortization


67,212



56,575





186,798



169,330



Taxes other than income


9,105



9,038





28,209



28,857




















Operating Income

$

296,327


$

288,163


2.8%


$

410,037


$

411,962


(0.5)%




Sierra Pacific Power Company

Gross Margin

(dollars in thousands)



Three Months Ended September 30,


Nine Months Ended September 30,









Change from








Change from



2011


2010


Prior Year %


2011



2010


Prior Year %

Operating Revenues:

















Electric

$

202,263


$

237,798


(14.9)%


$

545,462


$

649,337


(16.0)%


Gas


16,615



19,286


(13.8)%



125,357



139,711


(10.3)%




218,878



257,084


(14.9)%



670,819



789,048


(15.0)%


















Energy Costs:

















Fuel for power generation


53,803



66,133


(18.6)%



141,130



181,232


(22.1)%


Purchased power


41,615



33,545


24.1%



118,965



110,262


7.9%


Gas Purchased for resale               


10,137



10,823


(6.3)%



87,753



101,536


(13.6)%


Deferral of energy - electric - net


(22,095)



9,964


(321.7)%



(45,924)



17,189


(367.2)%


Deferral of energy - gas - net


(1,171)



1,795


(165.2)%



3,520



7,646


(54.0)%



$

82,289


$

122,260


(32.7)%


$

305,444


$

417,865


(26.9)%


















Gross Margin by Segment:

















Electric


128,940



128,156


0.6%



331,291



340,654


(2.7)%


Gas


7,649



6,668


14.7%



34,084



30,529


11.6%

Gross Margin

$

136,589


$

134,824


1.3%


$

365,375


$

371,183


(1.6)%


















Other operating expenses


38,529



38,004





113,432



114,371



Maintenance


7,909



7,419





28,195



26,770



Depreciation and amortization


26,525



26,848





79,647



79,737



Taxes other than income


6,052



6,330





17,675



18,494




















Operating Income

$

57,574


$

56,223


2.4%


$

126,426


$

131,811


(4.1)%




SOURCE NV Energy, Inc.



RELATED LINKS
http://www.nvenergy.com

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.