Exhibit 99.1

FOR IMMEDIATE RELEASE August 1, 2011		Analyst Contacts:		Max Kuniansky, (702) 402-5627
				Britta Carlson, (702) 402-5624
		Media Contact:		Karl Walquist, (775) 834-3891

NV Energy Reports Second Quarter Earnings

Las Vegas — NV Energy, Inc. (NYSE: NVE) today announced financial results for the three months and six months ended June 30, 2011.

NV Energy Consolidated Results
Periods ended June 30

		Net Income								Earnings
		($ Millions)								Per Share (Diluted)
		2011				2010				2011				2010
Three Months		$	12.9			$	36.9			$	0.05			$	0.16
Six Months		$	15.2			$	35.2			$	0.06			$	0.15

“Mild weather, completion of the Harry Allen Generating Station and regulatory adjustments were key factors affecting our second quarter results,” said Michael Yackira, president and chief executive officer of NV Energy, Inc. “Looking ahead, we remain focused on reducing costs, improving efficiency, and building value for shareholders.”

The second quarter of 2011 reflects $8.6 million of pre-tax adjustments to amounts previously recorded in connection with energy efficiency and conservation programs. These adjustments, which adversely affected results, followed a May 2011 decision by the Public Utilities Commission of Nevada.

Results for the second quarter of 2010 included a $7.6 million pre-tax gain on a May 2010 asset sale, and the results of NV Energy’s California operations, which were sold effective January 1, 2011.

Webcast Scheduled for 7:00 a.m. PDT today, Monday, August 1, 2011

Senior management of NV Energy will review the company’s second quarter 2011 financial results and other matters during a conference call and live webcast today, Monday, August 1, at 7:00 a.m. Pacific Standard Time.

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

P.O. BOX, LAS VEGAS, NEVADA 89151-0001		6226 WEST SAHARA AVENUE, LAS VEGAS, NEVADA 89146
P.O. BOX 30150, RENO, NEVADA 89520-3150		6100 NEIL ROAD, RENO, NEVADA 89511     nvenergy.com

A taped replay will remain on the company’s website for approximately 90 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, 208893.

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 45,592 square-mile service territory that stretches north to south from Elko to Laughlin, NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada as well as approximately 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, including changes in and renewals of collective bargaining agreements, strikes or work stoppages, 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 quarter ended March 31, 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								Six Months Ended
		June 30,								June 30,
		2011				2010				2011				2010
OPERATING REVENUES		$	674,931			$	782,683			$	1,315,914			$	1,497,172
OPERATING EXPENSES:
Fuel for power generation			156,803				181,662				303,141				403,281
Purchased power			160,308				165,321				295,324				272,684
Gas purchased for resale			24,984				25,154				77,616				90,713
Deferred energy			(8,106	)			54,933				(10,058	)			72,499
Other operating expenses			97,547				101,388				203,521				208,014
Maintenance			32,186				28,860				61,948				54,589
Depreciation and amortization			89,606				84,696				172,708				165,644
Taxes other than income			14,684				15,939				30,929				32,112
Total Operating Expenses			568,012				657,953				1,135,129				1,299,536
OPERATING INCOME			106,919				124,730				180,785				197,636
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $2,835, $5,926, $9,045 and $10,864)			(80,879	)			(80,772	)			(158,222	)			(160,836	)
Interest income (expense) on regulatory items			(4,062	)			(2,997	)			(7,824	)			(5,068	)
AFUDC-equity			3,522				7,138				11,164				13,091
Other income			4,439				15,401				10,297				21,278
Other expense			(9,087	)			(9,659	)			(13,743	)			(12,725	)
Total Other Income (Expense)			(86,067	)			(70,889	)			(158,328	)			(144,260	)
Income Before Income Tax Expense			20,852				53,841				22,457				53,376
Income tax expense			7,964				16,895				7,239				18,151
NET INCOME		$	12,888			$	36,946			$	15,218			$	35,225
Amount per share basic and diluted
Net income per share basic and diluted		$	0.05			$	0.16			$	0.06			$	0.15
Weighted Average Shares of Common Stock Outstanding — basic			235,867,068				234,995,083				235,697,687				234,927,239
Weighted Average Shares of Common Stock Outstanding — diluted			237,278,546				236,134,449				237,027,656				235,965,452
Dividends Declared Per Share of Common Stock		$	0.12			$	0.11			$	0.24			$	0.22

NV ENERGY, INC.
CONSOLIDATED OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS
(unaudited)

ELECTRIC SALES — MWh’s
(in thousands)

		Three Months Ended June 30,												Six Months Ended June 30,
										Change from												Change from
		2011				2010				Prior Year				2011				2010				Prior Year
Residential			2,248				2,425				-7.3	%			4,371				4,599				-5.0	%
Commercial			1,760				1,826				-3.6	%			3,331				3,423				-2.7	%
Industrial			2,669				2,632				1.4	%			4,968				4,908				1.2	%
TOTAL RETAIL			6,677				6,883				-3.0	%			12,670				12,930				-2.0	%
Other			55				54				1.9	%			113				113				0.0	%
TOTAL			6,732				6,937				-3.0	%			12,783				13,043				-2.0	%

ELECTRIC SALES — MWh’s (EXCLUDING CALIFORNIA)*
(in thousands)

		Three Months Ended June 30,																Six Months Ended June 30,
														Average																Average
										Change from				Change in												Change from				Change in
		2011				2010				Prior Year				Customers				2011				2010				Prior Year				Customers
Residential			2,248				2,361				-4.8	%			0.9	%			4,371				4,448				-1.7	%			0.9	%
Commercial			1,760				1,791				-1.7	%			0.5	%			3,331				3,344				-0.4	%			0.6	%
Industrial			2,669				2,607				2.4	%			-1.3	%			4,968				4,846				2.5	%			-1.0	%
TOTAL RETAIL			6,677				6,759				-1.2	%							12,670				12,638				0.3	%
Other			55				54				1.9	%							113				113				0.0	%
TOTAL			6,732				6,813				-1.2	%			0.8	%			12,783				12,751				0.3	%			0.8	%

GAS SALES – Dth
(in thousands)

		Three Months Ended June 30,												Six Months Ended June 30,
										Change from												Change from
		2011				2010				Prior Year				2011				2010				Prior Year
TOTAL RETAIL			2,871				2,852				0.7	%			9,405				8,836				6.4	%

ELECTRIC SOURCES — MWh’s
(in thousands)

		Three Months Ended June 30,												Six Months Ended June 30,
										Change from												Change from
		2011				2010				Prior Year				2011				2010				Prior Year
Generated			4,464				4,809				-7.2	%			8,286				9,430				-12.1	%
Purchased			2,822				2,557				10.4	%			5,504				4,283				28.5	%
TOTAL			7,286				7,366								13,790				13,713
DEGREE DAYS-SOUTH
Heating			85				119				-28.6	%			1,131				1,170				-3.3	%
Cooling			985				995				-1.0	%			1,017				1,006				1.1	%
DEGREE DAYS-NORTH
Heating			883				869				1.6	%			3,198				2,984				7.2	%
Cooling			112				137				-18.2	%			112				137				-18.2	%

CAPITAL STRUCTURE
(dollars in thousands)

		June 30, 2011								June 30, 2010
Current maturities of long-term debt		$	135,991				1.5	%		$	357,163				4.1	%
Long-term debt			5,151,590				59.9	%			5,242,442				59.5	%
Total debt		$	5,287,581				61.4	%		$	5,599,605				63.6	%
Total shareholders’ equity			3,319,706				38.6	%			3,210,763				36.4	%
Total capitalization (including current maturities of long-term debt)		$	8,607,287				100.0	%		$	8,810,368				100.0	%

AVAILABLE LIQUIDITY AS OF JUNE 30, 2011 (dollars in millions)

		NVE				NPC				SPPC
Cash and Cash Equivalents		$	5.2			$	26.3			$	76.1
Balance available on Revolving Credit Facilities			N/A				445.5				237.5
Less reduction for hedging transactions			N/A				(4.5	)			(0.9	)
		$	5.2			$	467.3			$	312.7

NEVADA POWER COMPANY
CONSOLIDATED INCOME STATEMENTS
(Dollars in Thousands)
(unaudited)

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2011				2010				2011				2010
OPERATING REVENUES		$	473,898			$	539,395			$	863,966			$	965,194
OPERATING EXPENSES:
Fuel for power generation			114,744				132,067				215,814				288,182
Purchased power			122,408				124,740				217,974				195,967
Deferred energy			2,350				39,960				9,080				59,423
Other operating expenses			61,935				63,292				127,036				130,011
Maintenance			19,325				18,219				41,662				35,238
Depreciation and amortization			61,913				57,654				119,586				112,755
Taxes other than income			9,046				9,793				19,104				19,819
Total Operating Expenses			391,721				445,725				750,256				841,395
OPERATING INCOME			82,177				93,670				113,710				123,799
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $2,330, $5,444, $8,120 and $9,976)			(55,736	)			(53,996	)			(107,769	)			(107,352	)
Interest income (expense) on regulatory items			(1,982	)			(777	)			(3,433	)			(808	)
AFUDC-equity			2,855				6,398				9,953				11,760
Other income			2,676				2,659				6,308				5,242
Other expense			(5,179	)			(5,172	)			(7,911	)			(6,304	)
Total Other Income (Expense)			(57,366	)			(50,888	)			(102,852	)			(97,462	)
Income Before Income Tax Expense			24,811				42,782				10,858				26,337
Income tax expense			8,748				12,998				3,815				8,879
NET INCOME		$	16,063			$	29,784			$	7,043			$	17,458

NEVADA POWER COMPANY
OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS
(unaudited)

ELECTRIC SALES — MWh’s
(in thousands)

		Three Months Ended June 30,																Six Months Ended June 30,
														Average																Average
										Change from				Change in												Change from				Change in
		2011				2010				Prior Year				Customers				2011				2010				Prior Year				Customers
Residential			1,781				1,886				-5.6	%			1.1	%			3,310				3,405				-2.8	%			1.1	%
Commercial			1,073				1,086				-1.2	%			0.4	%			1,988				1,994				-0.3	%			0.4	%
Industrial			2,027				1,988				2.0	%			-1.0	%			3,723				3,648				2.1	%			-1.1	%
TOTAL RETAIL			4,881				4,960				-1.6	%							9,021				9,047				-0.3	%
Other			51				50				2.0	%							105				105				0.0	%
TOTAL			4,932				5,010				-1.6	%			1.0	%			9,126				9,152				-0.3	%			1.0	%

ELECTRIC SOURCES — MWh’s
(in thousands)

		Three Months Ended June 30,												Six Months Ended June 30,
										Change												Change
										from Prior												from Prior
		2011				2010				Year				2011				2010				Year
Generated			3,487				3,699				-5.7	%			6,260				7,130				-12.2	%
Purchased			1,718				1,550				10.8	%			3,301				2,407				37.1	%
TOTAL			5,205				5,249								9,561				9,537
DEGREE DAYS
Heating			85				119				-28.6	%			1,131				1,170				-3.3	%
Cooling			985				995				-1.0	%			1,017				1,006				1.1	%

CAPITAL STRUCTURE
(dollars in thousands)

		June 30, 2011								June 30, 2010
Current maturities of long-term debt		$	135,991				2.1	%		$	357,163				5.5	%
Long-term debt			3,465,040				54.2	%			3,475,347				53.9	%
Total debt		$	3,601,031				56.3	%		$	3,832,510				59.4	%
Total shareholder’s equity			2,798,628				43.7	%			2,614,530				40.6	%
Total capitalization (including current maturities of long-term debt)		$	6,399,659				100.0	%		$	6,447,040				100.0	%

SIERRA PACIFIC POWER COMPANY
CONSOLIDATED INCOME STATEMENTS
(Dollars in Thousands)
(unaudited)

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2011				2010				2011				2010
OPERATING REVENUES:
Electric		$	164,582			$	202,877			$	343,199			$	411,539
Gas			36,448				40,405				108,742				120,425
Total Operating Revenues			201,030				243,282				451,941				531,964
OPERATING EXPENSES:
Fuel for power generation			42,059				49,595				87,327				115,099
Purchased power			37,900				40,581				77,350				76,717
Gas purchased for resale			24,984				25,154				77,616				90,713
Deferral of energy — electric — net			(11,898	)			8,725				(23,829	)			7,225
Deferral of energy — gas — net			1,442				6,248				4,691				5,851
Other operating expenses			34,687				37,014				74,903				76,367
Maintenance			12,861				10,641				20,286				19,351
Depreciation and amortization			27,693				27,042				53,122				52,889
Taxes other than income			5,599				6,098				11,623				12,164
Total Operating Expenses			175,327				211,098				383,089				456,376
OPERATING INCOME			25,703				32,184				68,852				75,588
OTHER INCOME (EXPENSE):
Interest expense (net of AFUDC-debt: $505, $482, $925 and $888)			(16,774	)			(17,113	)			(33,720	)			(34,158	)
Interest income (expense) on regulatory items			(2,080	)			(2,220	)			(4,391	)			(4,260	)
AFUDC-equity			667				740				1,211				1,331
Other income			1,177				10,142				3,229				11,897
Other expense			(3,554	)			(4,401	)			(5,148	)			(6,270	)
Total Other Income (Expense)			(20,564	)			(12,852	)			(38,819	)			(31,460	)
Income Before Income Tax Expense			5,139				19,332				30,033				44,128
Income tax expense			1,627				8,017				9,945				15,693
NET INCOME		$	3,512			$	11,315			$	20,088			$	28,435

SIERRA PACIFIC POWER COMPANY
OPERATING STATISTICS AND FINANCIAL HIGHLIGHTS
(unaudited)

ELECTRIC SALES — MWh’s
(in thousands)

		Three Months Ended June 30,												Six Months Ended June 30,
										Change from												Change from
		2011				2010				Prior Year				2011				2010				Prior Year
Residential			467				539				-13.4	%			1,061				1,194				-11.1	%
Commercial			687				740				-7.2	%			1,343				1,429				-6.0	%
Industrial			642				644				-0.3	%			1,245				1,260				-1.2	%
TOTAL RETAIL			1,796				1,923				-6.6	%			3,649				3,883				-6.0	%
Other			4				4				0.0	%			8				8				0.0	%
TOTAL			1,800				1,927				-6.6	%			3,657				3,891				-6.0	%

ELECTRIC SALES — MWh’s (EXCLUDING CALIFORNIA)*
(in thousands)

		Three Months Ended June 30,																Six Months Ended June 30,
														Average																Average
										Change from				Change in												Change from				Change in
		2011				2010				Prior Year				Customers				2011				2010				Prior Year				Customers
Residential			467				475				-1.7	%			0.3	%			1,061				1,043				1.7	%			0.3	%
Commercial			687				705				-2.6	%			0.6	%			1,343				1,350				-0.5	%			1.1	%
Industrial			642				619				3.7	%			-4.8	%			1,245				1,198				3.9	%			0.0	%
TOTAL RETAIL			1,796				1,799				-0.2	%							3,649				3,591				1.6	%
Other			4				4				0.0	%							8				8				0.0	%
TOTAL			1,800				1,803				-0.2	%			0.3	%			3,657				3,599				1.6	%			0.4	%

GAS SALES – Dth
(in thousands)

		Three Months Ended June 30,												Six Months Ended June 30,
										Change from												Change from
		2011				2010				Prior Year				2011				2010				Prior Year
TOTAL RETAIL			2,871				2,852				0.7	%			9,405				8,836				6.4	%

ELECTRIC SOURCES — MWh’s
(in thousands)

		Three Months Ended June 30,												Six Months Ended June 30,
										Change from												Change from
		2011				2010				Prior Year				2011				2010				Prior Year
Generated			977				1,110				-12.0	%			2,026				2,300				-11.9	%
Purchased			1,104				1,007				9.6	%			2,203				1,876				17.4	%
TOTAL			2,081				2,117								4,229				4,176
DEGREE DAYS
Heating			883				869				1.6	%			3,198				2,984				7.2	%
Cooling			112				137				-18.2	%			112				137				-18.2	%

CAPITAL STRUCTURE
(dollars in thousands)

		June 30, 2011								June 30, 2010
Current maturities of long-term debt		$	—				0.0	%		$	—				0.0	%
Long-term debt			1,180,051				55.5	%			1,281,500				55.9	%
Total debt		$	1,180,051				55.5	%		$	1,281,500				55.9	%
Total shareholder’s equity			945,771				44.5	%			1,012,710				44.1	%
Total capitalization (including current maturities of long-term debt)		$	2,125,822				100.0	%		$	2,294,210				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 June 30,												Six Months Ended June 30,
										Change												Change
										from Prior												from Prior
		2011				2010				Year %				2011				2010				Year %
Operating Revenues:		$	674,931			$	782,683				-13.8	%		$	1,315,914			$	1,497,172				-12.1	%
Energy Costs:
Fuel for power generation			156,803				181,662				-13.7	%			303,141				403,281				-24.8	%
Purchased power			160,308				165,321				-3.0	%			295,324				272,684				8.3	%
Gas purchased for resale			24,984				25,154				-0.7	%			77,616				90,713				-14.4	%
Deferred energy			(8,106	)			54,933				-114.8	%			(10,058	)			72,499				-113.9	%
		$	333,989			$	427,070				-21.8	%		$	666,023			$	839,177				-20.6	%
Gross Margin		$	340,942			$	355,613				-4.1	%		$	649,891			$	657,995				-1.2	%
Other operating expenses			97,547				101,388								203,521				208,014
Maintenance			32,186				28,860								61,948				54,589
Depreciation and amortization			89,606				84,696								172,708				165,644
Taxes other than income			14,684				15,939								30,929				32,112
Operating Income		$	106,919			$	124,730				-14.3	%		$	180,785			$	197,636				-8.5	%

Nevada Power Company
Gross Margin
(dollars in thousands)

		Three Months Ended June 30,												Six Months Ended June 30,
										Change												Change
										from Prior												from Prior
		2011				2010				Year %				2011				2010				Year %
Operating Revenues:		$	473,898			$	539,395				-12.1	%		$	863,966			$	965,194				-10.5	%
Energy Costs:
Fuel for power generation			114,744				132,067				-13.1	%			215,814				288,182				-25.1	%
Purchased power			122,408				124,740				-1.9	%			217,974				195,967				11.2	%
Deferred energy			2,350				39,960				-94.1	%			9,080				59,423				-84.7	%
		$	239,502			$	296,767				-19.3	%		$	442,868			$	543,572				-18.5	%
Gross Margin		$	234,396			$	242,628				-3.4	%		$	421,098			$	421,622				-0.1	%
Other operating expenses			61,935				63,292								127,036				130,011
Maintenance			19,325				18,219								41,662				35,238
Depreciation and amortization			61,913				57,654								119,586				112,755
Taxes other than income			9,046				9,793								19,104				19,819
Operating Income		$	82,177			$	93,670				-12.3	%		$	113,710			$	123,799				-8.1	%