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The company is a public utility which generates, transmits and distributes electric service in northern and southern Nevada, including the Las Vegas Valley, and provides natural gas service in the Reno–Sparks metropolitan area of northern Nevada. It serves about 1.5 million customers and over 40 million tourists annually.
|Fiscal Year 2011|
|Operating Revenues||$2.9 billion|
|Net Income||$163 million|
NV Energy was formed in 1928 as Sierra Pacific Power Company, the main power company for northern Nevada. However, its roots date back to the gold rush of the 1850s. In 1996, it reorganized as a holding company, Sierra Pacific Resources. In 1999, it merged with Las Vegas based Nevada Power Company. The merger created a company with a service territory stretching over 44,400 square miles--nearly all of Nevada's densely populated area.
On September 22, 2008, Nevada Power and Sierra Pacific Power began doing business as NV Energy. This is the result of the corporate decision to unify its image under a single brand. Later, it changed its corporate name to NV Energy, Inc.
Electric distribution service reliability ranked among the best 25% of electric utilities nationwide in 2010, and was the best in the nation in 2009. The rankings are based on interruption frequency and interruption duration compared to a peer group constructed by the Edison Electric Institute.
The company obtains the majority of its electricity from natural gas-fired sources. Coal provides less than 20%. Eight of the company's nine coal-fired generating units have flue gas desulfurization equipment (scrubbers) installed to control sulfur dioxide emissions.
In May 2011, the company completed construction of the Harry Allen gas-fired generating plant below budget and ahead of schedule. Previously announced plans to construct two 750MW pulverized coal generation units near Ely have been cancelled.
The company is constructing the One Nevada (ONLine) transmission line to interconnect its northern and southern Nevada service territories. The project is scheduled for completion by the end of 2012.