May 29, 2016 9:28 PM ET

Electric Utilities

Company Overview of Nevada Power Company

Company Overview

Nevada Power Company generates, transmits, distributes, and sells electricity in Nevada, the United States. The company generates electricity through natural gas, oil, coal, waste heat, and solar resources. As of December 31, 2015, its transmission and distribution systems included approximately 2,000 miles of transmission lines, 24,000 miles of distribution lines, and 200 substations. It serves 0.9 million retail customers, including residential, commercial, and industrial customers primarily in the Las Vegas, North Las Vegas, Henderson, and adjoining areas. The company was incorporated in 1929 and is based in Las Vegas, Nevada. Nevada Power Company operates as a subsidiary of NV Energy, In...

6226 West Sahara Avenue

Las Vegas, NV 89146

United States

Founded in 1929

1,400 Employees



Key Executives for Nevada Power Company

Principal Executive Officer, President and Director
Age: 61
Chief Financial Officer, Chief Accounting Officer, Senior Vice President, Controller and Director
Age: 51
Chief Operating Officer and Executive Vice President
Age: 59
Executive Director, Chief Executive Officer of Sierra Pacific Resources, Chief Executive Officer of Nve, President of Spr and President of Nve
Age: 63
President of Sierra Pacific Power Company and Senior Vice President of Energy Supply - NV Energy Inc
Age: 60
Compensation as of Fiscal Year 2015.

Nevada Power Company Key Developments

NV Energy Enters into an Amended and Restated Secured Revolving Credit Facility

On June 27, 2014, NV Energy (Nevada Power) entered into an amended and restated secured revolving credit facility allowing Nevada Power to borrow, repay and reborrow, from time to time, up to $400 million prior to March 23, 2018. Nevada Power may increase the size of the facility by an amount not exceeding $150 million. The facility amends and restates Nevada Power's prior $500 million secured revolving credit facility with Wells Fargo Bank, National Association, as administrative agent, which would have expired in March 2017. Nevada Power may use the facility for general corporate purposes and for the issuance of letters of credit. The facility is secured by a General and Refunding Mortgage Bond of Nevada Power, which is equal to the amounts due and payable by Nevada Power under the facility from time to time. Borrowings under the facility will bear interest at an applicable base rate defined as the high of (1) the prime rate of Wells Fargo Bank, National Association, (2) the federal funds rate plus 1/2 of 1% and (3) the one month LIBOR plus 1% or a LIBOR rate, plus a margin. The margin varies based upon Nevada Power's secured debt credit rating by S&P and Moody's. Borrowings under the facility are conditioned on Nevada Power's ability to make certain representations at the time each such borrowing is made. The facility also includes customary covenants, including a financial maintenance covenant that requires Nevada Power to maintain a ratio of consolidated indebtedness to consolidated capital, determined as of the last day of each fiscal quarter, not to exceed 0.68 to 1.00.

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Recent Private Companies Transactions

April 29, 2016
Calpine Corp., South Point Energy Center

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