public utilities founded reno nevada united states 1928 1928 headquarters las vegas nevada united states key people paul caudill president and ceo 1 products electricity natural gas revenue us 2.9 billion 2013 2 operating income us 558 million 2013 3 net income us 162 million 2013 4 total assets us 12.2 billion 2013 5 number of employees est. 2 500 6 parent berkshire hathaway energy subsidiaries nevada power company sierra pacific power company website nvenergy.com nv energy 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 . based in las vegas nevada it serves about 1.3 million customers and over 40 million tourists annually . 7 midamerican energy holdings company now berkshire hathaway energy a subsidiary of berkshire hathaway acquired nv energy in a transaction completed on december 19 2013 . 8 nv energy will continue to be based in las vegas under its current name . 9 prior to the acquisition by midamerican the company s common stock was listed on the new york stock exchange under the ticker symbol nve . contents 1 history 2 service reliability 3 customer service reputation 4 electric sources 5 major projects 6 subsidiaries 7 references 8 external links history edit nv energy is the product of the 1998 merger of the two major utilities in nevada northern nevada s sierra pacific power based in reno and las vegas nevada power . sierra pacific power was founded in 1928 from a merger of several companies dating back to the gold rush of the 1850s . in 1984 it reorganized as a holding company sierra pacific resources . nevada power was formed in 1906 as the consolidated power and telephone company of nevada . it sold off its telephone operations in 1929 and became southern nevada power changing its name to nevada power in 1961 . a year later it became the first nevada based company listed on the new york stock exchange . in 1999 sierra pacific and nevada power merged . 10 sierra pacific resources was the nominal survivor with nevada power joining sierra pacific power as one of its operating companies . however headquarters moved from reno to nevada power s old campus in las vegas . 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 sierra pacific resources changed its corporate name to nv energy inc. 11 in 2009 nv energy sold its california operations to a partnership of algonquin power & utilities and emera . 12 algonquin later bought out emera . 13 service reliability edit based on the reliability of electric distribution service nv energy ranked among the best 10 % of electric utilities nationwide in 2012 2011 and 2010 and was the best in the nation in 2009 . 14 the rankings are based on interruption frequency 15 and interruption duration 16 compared to a peer group constructed by the edison electric institute . nv energy corporate headquarters in las vegas nv customer service reputation edit nv energy has recently made a number of customer service improvements including online access to account and energy use information https nvenergy.mediaroom.com index.php s 8838 & item 136899 revamping its ivr system and providing 24 7 customer service https nvenergy.mediaroom.com index.php s 8838 & item 136905 . electric sources edit the company serves its customers through a variety of sources including natural gas and renewable energy . the company is currently exceeding nevada s renewable portfolio standard https nvenergy.mediaroom.com index.php s 8838 & item 136908 of 18 percent of its total energy sales . nv energy s northern nevada operating company achieved a 33.6 percent renewable energy and renewable energy credit level and southern nevada achieved a 20.2 percent renewable portfolio standard . see more at https nvenergy.mediaroom.com index.php s 8838 & item 136908 sthash .79 pdpi85.dpuf major projects edit 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 750 megawatt pulverized coal generation units near ely have been cancelled . prior to 2013 the company s northern and southern nevada electric grids were not connected and ran as separate systems . this changed in late 2013 when the company completed a transmission line running from the harry allen plant north to ely nevada . the 500 kilovolt one nevada transmission line online is expected to improve electric service reliability reduce costs and allow development of renewable energy sources such as wind solar and geothermal generating units in remote parts of the state . 17 18 19 20 nv energy buys solar power from the 100 mw playa solar 2 project at 0.0378 kwh in a 20 year power purchase agreement . 21 subsidiaries edit nevada power company sierra pacific power company references edit https www.nvenergy.com company caudill.cfm nv energy bondholder report march 2014 . nv energy bondholder report march 7 2014 . retrieved 19 july 2014 . nv energy bondholder report march 7 2014 . retrieved 19 july 2014 . nv energy bondholder report march 7 2014 . retrieved 19 july 2014 . annual reports on sec form 10 k for period ending dec. 31 2013 nevada power company and sierra pacific power company . retrieved 19 july 2014 . source 2012 annual report on form 10 k sec form 8 k dated december 19 2013 merger announcement journal kathryn kranhold staff reporter of the wall street 1998 05 01 . nevada power sierra pacific plan merger deal of at least 1 billion . wall street journal . issn 0099 9660 . retrieved 2014 09 09 . nevada power and sierra pacific power renamed nv energy press release . sierra pacific resources . 2008 09 22 . retrieved 2008 09 22 . update 2 algonquin emera to jointly buy some nv energy assets . reuters . 2009 04 23 . retrieved 2014 09 16 . algonquin and emera announce a strategic investment agreement and the transfer of california utility to algonquin . retrieved 2014 09 16 . nv energy investor presentation march 2013 company website saifi saidi las vegas review journal january 23 2014 jennifer robison 2010 06 03 . hot topic how does online grab you puc hears all about plan for 510 million power line . las vegas review journal . bureau of land management news release october 19 2010 https nvenergy.mediaroom.com index.php s 8838 & item 136857 forbes july 13 2015 . first solar signs ppa with a record low rates . external links edit nv energy website sources of power sierra pacific power company records nc1195 . special collections university libraries university of nevada reno . v t e berkshire hathaway board of directors warren buffett chairman and ceo charlie munger howard graham buffett susan decker bill gates david gottesman charlotte guyman donald keough thomas murphy ronald olson walter scott jr. insurance applied underwriters berkshire hathaway assurance berkshire hathaway homestate companies kansas bankers surety company berkshire hathaway specialty insurance boatus central states indemnity gateway underwriters agency geico gen re medical protective national indemnity company guard insurance seaworthy insurance company united states liability insurance group materials and construction acme brick benjamin moore & co. charter brokerage clayton homes international metalworking companies johns manville lubrizol marmon marmon herrington procor union tank car company mitek mouser electronics precision castparts corp. shaw industries tti furniture cort business services jordan s furniture larson juhl nebraska furniture mart rc willey home furnishings star furniture apparel brooks sports fruit of the loom russell vanity fair fechheimer brothers garanimals h.h. brown shoe group acme boots justin brands louis transportation berkshire hathaway automotive burlington northern santa fe corporation flightsafety international forest river marquis jet mclane netjets netjets europe utlx xtra lease food ctb international international dairy queen dairy queen karmelkorn orange julius kraft heinz the pampered chef see s candies media the buffalo news business wire bh media bristol herald courier culpeper star exponent the daily nonpareil danville register & bee dothan eagle eden daily news the eagle enterprise ledger grand island independent hickory daily record independent tribune jackson county floridan kearney hub martinsville bulletin the morning news nelson county times news & record news & messenger north platte telegraph omaha world herald opelika auburn news the press of atlantic city roanoke times richmond times dispatch star herald statesville record & landmark the daily progress the free lance star the mcdowell news the news & advance the news herald the news virginian the reidsville review tulsa world waco tribune herald winston salem journal york news times wplg jewelry ben bridge jeweler borsheim s fine jewelry helzberg diamonds richline group scott fetzer campbell hausfeld ginsu kirby world book encyclopedia energy midamerican energy company nv energy pacificorp northern powergrid calenergy generation kern river gas transmission company northern natural gas homeservices of america other duracell oriental trading company related articles blue chip stamps wesco financial owned assets category retrieved from https en.wikipedia.org w index.php title nv energy & oldid 734047254 categories public utilities of the united statespower companies of the united statesenergy in nevadacompanies based in reno nevadaenergy companies established in 1928non renewable resource companies established in 1928companies listed on the new york stock exchangeholding companies of the united 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