|Type||Public (NYSE: NVE)|
|Headquarters||6100 Neil Rd.|
Reno, NV 89511
|Area served||CA, NV|
|Key people||Michael W. Yackira, CEO|
|Industry||Electric Producer & Utility|
|Revenue||$3.60 billion (2007)|
|Net income||▲ $197.3 million (2007)|
Existing Coal Plants
|Plant Name||State||County||Year(s) Built||Capacity||Status|
|Reid Gardner||NV||Clark||1965, 1968, 1976, 1983||612 MW||Retired, 3 units in 2014, 1 in 2017|
|North Valmy||NV||Humboldt||1981, 1985||521 MW||Operating, retiring in 2021 and 2025|
In November 2009, Sierra Pacific Resources changed its name to NV Energy. Sierra Pacific Resources had been created in 1999 from the merger of Nevada Power, Sierra Pacific Power and Sierra Pacific Resources.
NV Energy trades on the New York Stock Exchange under the ticker symbol (NVE). Until becoming NV Energy, Sierra Pacific Resources traded on the New York Stock Exchange under the ticker symbol (SRP).
NV Energy is the owner and operator of the Reid Gardner Station, a coal-fired power station near Moapa, Nevada and is the proponent of the Ely Energy Center, Phase I and a hypothetical expansion known as Ely Energy Center, Phase II.
In its 2007 annual report, Sierra Pacific Resources stated that "NPC's generation capacity consists of a combination of 29 gas, oil and coal generating units with a combined summer capacity of 3,276 MWs ... In 2007, NPC generated approximately 63% of its total system."
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Ties to the American Legislative Exchange Council
NV Energy has been a corporate funder of the American Legislative Exchange Council (ALEC). It has been a member of the ALEC Energy, Environment and Agriculture Task Force as well as ALEC corporate co-chair of Nevada. Please see ALEC Corporations for more.
ALEC is a corporate bill mill. It is not just a lobby or a front group; it is much more powerful than that. Through ALEC, corporations hand state legislators their wishlists to benefit their bottom line. Corporations fund almost all of ALEC's operations. They pay for a seat on ALEC task forces where corporate lobbyists and special interest reps vote with elected officials to approve “model” bills. Learn more at the Center for Media and Democracy's ALECexposed.org, and check out breaking news on our PRWatch.org site.
In its 2007 annual report Nevada Power stated that coal used in the Reid Gardner power station "originates from various mines in the Utah and Colorado coal fields and is delivered to the station via the Union Pacific Railroad. NV Energy has long-term contracts with Arch Coal (expires 2011) and Andalex Resources, Inc. (expires 2010). Long-term contracts were expected to be executed in 2008 by Nevada Power with Co-op Mining Co. (to expire in 2012) and Bowie Resources (to expire in 2012). These contracts were expected to represent 100% of Reid Gardner’s projected requirements for 2008, 80% for 2009, 57% for 2010, 40% for 2011 and 27% for 2012."
NV Energy also owns 11.3% the Navajo Generating Station. In its annual report SRP, the operator of the Navajo Station, states that coal for the plant is "obtained from surface mining operations conducted by Peabody Coal Company (Peabody) on portions of the Black Mesa in Arizona within the Navajo and Hopi Indian tribes (the Tribes) reservations. The Navajo supply contract expires June 2011, with an option provided to NPC to extend for an additional 15 years requirements."
From Gas to Coal
NV Energy's Ely Energy Center, Phase I was placed on hold on February 9, 2009. According to CEO Michael Yackira, the plant could be delayed for up to 10 years, or until carbon capture and storage technologies are available.
The 2,500–megawatt plant was to have been the largest energy development project in the state’s history since the Hoover Dam was completed in 1936."
While the power station was to have been coal-fired, the company sought to sell its credentials on the grounds that it would facilitate future growth of solar and wind power. "The Ely Energy Center also includes a 250–mile transmission intertie that will, for the first time link northern and southern Nevada. This link will open a path for renewable energy to be economically transported to where it is needed the most. Specifically, it will allow northern Nevada’s abundant geothermal energy to be sent south while southern Nevada's solar resources can be shared with the north. It will provide transmission access for wind plants proposed in northern and eastern Nevada that would be otherwise economically impossible to develop," it states on its website.
In April 2013, NV Energy proposed a state amendment calling for the accelerated closing of three of the four units at Reid Gardner by 2014, and the fourth in 2017. In its place the company would construct or acquire and own 1,000 megawatts of natural gas during the next five years and 1,000 more megawatts in the next 10 years, as well as acquire or contract 600 megawatts of renewable energy in Nevada during the next five years, and own or operate 25 percent of that. Under the plan, the utility would not divest from its share of ownership in the Navajo and Valmy coal plants until 2017 and 2025, respectively.
Reid Gardner coal-ash landfill expansion moves forward
On April 28, 2011 NV Energy moved a step closer toward expanding its controversial landfill for toxic coal-ash waste at its power plant near Moapa, Nevada.
Southern Nevada Health District's board directed its staff to proceed with finalizing conditions for a permit it approved in October 2011 to expand the Reid Gardner Station's landfill, paving the way for 35 more years of operating the coal-fired plant. Moapa Band of Paiutes and the Sierra Club opposed the expansion, noting that it would likely lead to an increase in local water contamination.
- Michael W. Yackira, President and Chief Executive Officer, Sierra Pacific Resources
- E. Kevin Bethel, Vice President and Chief Accounting Officer, SPR
- Jeffrey L. Ceccarelli Corporate Senior Vice President, Service Delivery & Operations, SPR; President, Sierra Pacific Power Company;
- Roberto R. Denis Corporate Senior Vice President, Energy Supply, SPR
- Paul J. Kaleta Corporate Senior Vice President, General Counsel and Secretary, SPR
- William D. Rogers Corporate Senior Vice President, Chief Financial Officer and Treasurer, SPR
- Mary O. Simmons Vice President, External Affairs, SPPC
- Tony F. Sanchez III, Corporate Senior Vice President, Public Policy and External Affairs SPR
- Robert E. Stewart, Vice President, Marketing, SPR
- Stephen R. Wood, Corporate Senior Vice President, Administration, SPR
6100 Neil Road
Reno, NV 89511
Phone: (775) 834-3600 (switchboard)
Phone: (800) 962-0399 (business office)
Fax: (775) 834-4202
Articles and Resources
Related SourceWatch Articles
- Sierra Pacific Resources, BusinessWeek Company Insight Center, accessed Aug. 2008.
- Environmental Integrity Project, Dirty Kilowatts: America’s Most Polluting Power Plants, July 2007.
- Dig Deeper, Carbon Monitoring for Action database, accessed Aug. 2008.
- "About Us", NV Energy, accessed February 2009.
- "Projects", NV Energy website, accessed February 2009.
- Sierra Pacific Resources, Sierra Pacific Resources 2007 Annual Report, Sierra Pacific Resources, page 20.
- Clearinghouse on Environmental Advocacy and Research, project of the Environmental Working Group, Information of the American Legislative Exchange Council, archived organizational profile, archived by Wayback Machine December 2, 2000, accessed August 19, 2011
- American Legislative Exchange Council, Committee Roster, organizational task force directory, June 30, 2011, document obtained and released by Common Cause.
- American Legislative Exchange Council, "Solutions for the States," 38th Annual Meeting agenda, on file with CMD, August 3-6, 2011.
- Greenpeace, Greenpeace Confirms Six Utilities Quietly Dumped ALEC, organizational blog post, May 1, 2014.
- Navajo Generating Station, SRP website, accessed October 2009.
- "NV Energy postponing big coal-fired plant near Ely," Associated Press, February 10, 2009.
- Proposed Ely Energy Center, Sierra Pacific corporate fact sheet, accessed January 2008.
- Andrew Doughman, "NV Energy to decommission coal plants, shift to gas and renewables," Las Vegas Sun, April 2, 2013.
- "Controversial coal-ash landfill expansion near Moapa moves forward" Keith Rogers, Las Vegas Review Journal, April 28, 2011.