Profile: NV Energy Inc (NVE.N)
18 Dec 2013
NV Energy, Inc. (NVE), incorporated on December 12, 1983, is an investor-owned holding company. NVE has four primary, wholly owned subsidiaries: Nevada Power Company (NPC), doing business as NV Energy, Sierra Pacific Power Company (SPPC) doing business as NV Energy, NVE Insurance Company, Inc. and Lands of Sierra. The NPC and SPPC (Utilities) operate three business segments: NPC electric; SPPC electric, and SPPC natural gas. Electric service is provided by NPC to Las Vegas and surrounding Clark County, and by SPPC to northern Nevada. Natural gas service is provided by SPPC in the Reno-Sparks area of Nevada. Nevada Electrical Investment Company (NEICO) is a wholly owned subsidiary of NPC. SPPC has three primary, wholly owned subsidiaries: Global Project & Structured Finance Corporation (GPSF-B), Pinon Pine Corporation (PPC) and Pinon Pine Investment Company (PPIC). NPC and SPPC are public utilities that generate, transmit and distribute electric energy in Nevada and, in the case of SPPC, also deliver natural gas service. On December 19, 2013, MidAmerican Energy Holdings Company (MidAmerican) completed the merger of NV Energy, Inc. (NVE) and Silver Merger Sub, Inc., a subsidiary of MidAmerican, and following the completion of the merger (the NVE Merger) NVE became an indirect wholly owned subsidiary of MidAmerican.
NVE served approximately 1.2 million electric customers, of which approximately 850,000 electric customers primarily in Las Vegas, North Las Vegas, Henderson and adjoining areas were served by NPC, and approximately 324,000 electric customers in an approximate 42,000 square mile area of western, central and northeastern Nevada, including the cities of Reno, Sparks, Carson City, and Elko were served by SPPC. In addition, SPPC provided natural gas service to approximately 153,000 customers in an area of about 800 square miles in Nevada's Reno/Sparks area. Major industries served by the Utilities include gaming/recreation, mining, warehousing/manufacturing and governmental entities.
The Gas LDC provides natural gas to residential, commercial and industrial customers. SPPC's gas distribution system receives gas supplies from two interstate natural gas pipelines, the Paiute Pipeline Company and the Tuscarora Gas Transmission Company. In addition, SPPC has contracted for natural gas storage services to supplement firm and spot market purchases.
NPC's generation capacity consists of a combination of 44 gas, oil and coal generating units with a combined summer capacity of 4,570 megawatts. SPPC's generation capacity consists of a combination of 17 gas, oil and coal generating units with a combined summer capacity of 1,508 megawatts. NPC has two long term coal supply contracts for the Reid Gardner Generating Station with Arch Coal Sales Company, which is a subsidiary of Arch Coal, Inc. (Arch). The Navajo Generating Station is jointly owned by NPC along with five other entities and is operated by Salt River Project. Coal is obtained under a Coal Sales Agreement with Peabody Western Coal Company. SPPC’s firm natural gas supply is supplemented with natural gas storage services and supplies from Northwest’s facility located at Jackson Prairie in southern Washington. SPPC also has storage on the Paiute Pipeline system.
Electric transmission systems deliver energy from electric generators to distribution systems for final delivery to customers. The Utilities’ electric transmission systems are part of the Western Interconnection, the regional grid in the western United States. The Western Interconnection includes the interconnected transmission systems of fourteen western states, two Canadian provinces and the parts of Mexico that make up the Western Electricity Coordinating Council (WECC). SPPC’s transmission system links generating units within the SPPC balancing authority area for delivery to the SPPC distribution system and provides interconnections with the balancing authority areas of Idaho Power, Los Angeles Department of Water and Power, CAISO, PacifiCorp, and Bonneville Power Administration.
NV Energy Inc
6226 West Sahara Avenue
LAS VEGAS NV 89146