NV Energy
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Headquarters in Las Vegas
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| Subsidiary | |
| Industry | Public utilities |
| Founded | Reno, Nevada, United States (1928) |
| Headquarters | Las Vegas, Nevada, United States |
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Key people
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Paul Caudill (President and CEO) |
| Products | electricity, natural gas |
| Revenue | US$ 2.9 billion (2013) |
| US$ 558 million (2013) | |
| US$ 162 million (2013) | |
| Total assets | US$ 12.2 billion (2013) |
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Number of employees
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est.2,500 |
| Parent | Berkshire Hathaway Energy |
| Subsidiaries | |
| Website | nvenergy |
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.
MidAmerican Energy Holdings Company (now Berkshire Hathaway Energy), a subsidiary of Berkshire Hathaway, acquired NV Energy in a transaction completed on December 19, 2013. NV Energy will continue to be based in Las Vegas under its current name. Prior to the acquisition by MidAmerican, the company's common stock was listed on the New York Stock Exchange under the ticker symbol NVE.
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 .
In 1999, Sierra Pacific and Nevada Power merged. 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.
In 2009, NV Energy sold its California operations to a partnership of Algonquin Power & Utilities and Emera. Algonquin later bought out Emera.
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Wikipedia