Sierra Pacific reports 177% earnings decline on purchased power costs

HOUSTON, Feb. 20, 2001–Reflecting growing unrecovered losses on purchased power, Sierra Pacific Resources, Reno, Nev., reported a $39.8 million loss for 2000, a 177% earnings decline from 1999.

EL CENTRO, Calif., Feb. 20, 2001 (PRNewswire) – A supplier of geothermal energy filed suit today seeking more than $45 million in back payments for electricity provided to Southern California Edison since November, when the utility abruptly stopped paying for the supplier’s environmentally friendly, renewable power.

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