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NEVADA POWER CO. REPORTS EARNINGS

 NEVADA POWER CO. REPORTS EARNINGS
 LAS VEGAS, Feb. 7 /PRNewswire/ -- Nevada Power Co. (NYSE: NVP) today


reported net income for the 12 months ended Dec. 31, 1991, of $35,176,000, as compared to $24,992,000 for 1990. Earnings after requirements for preferred stock dividends were $32,296,000 or $1.05 per average common share, as compared to $22,075,000 or $.78 per average common share in 1990.
 Electric revenues for 1991 were $538,775,000, up 12 percent, as compared to 1990 revenues of $481,045,000. The number of weighted average common shares outstanding for 1991 was 30,855,000, as compared to 28,330,000 in 1990.
 Net income for the fourth quarter of 1991 was $319,000, as compared to a net loss of $18,062,000 for the same period a year ago. The company experienced a fourth quarter 1991 loss after requirements for preferred stock dividends of $660,000 or $.02 per average common share, as compared to a loss of $18,847,000 or $.65 per average common share for the fourth quarter of 1990. The fourth quarter 1991 loss reflects after-tax write-offs of $3,815,000 due to a rate case order issued by the Public Service Commission of Nevada (PSC) in November 1991. Revenues for the fourth quarter of 1991 were $123,079,000, as compared to $105,426,000 in the fourth quarter of 1990.
 On Jan. 29, 1992, the company filed for an increase in general rates with the PSC. If approved, the $38.6 million increase would allow the company to recover increases in operating and maintenance expenses, the cost of investment in new facilities and financing costs.
 12 Months Ended Dec. 31, 1991 1990
 Revenues $538,775,000 $481,045,000
 Net income $35,176,000 $24,992,000
 Earnings available for
 common shares $32,296,000 $22,075,000
 Earnings per share $1.05 $.78
 Average common shares outstanding 30,855,000 28,330,000
 Quarter Ended Dec. 31, 1991 1990
 Revenues $123,079,000 $105,426,000
 Net income (loss) $319,000 ($18,062,000)
 Loss assigned to common shares ($660,000) ($18,847,000)
 Loss per common share ($.02) ($.65)
 Average common shares outstanding 30,855,000 28,330,000
 -0- 2/7/92
 /CONTACT: Robyn A. Warsinske (investors), 702-367-5610, or Rob McCoy (media), 702-367-5680, or (cellular) 702-592-3151, both of Nevada Power/
 (NVP) CO: Nevada Power Co. ST: Nevada IN: UTI SU: ERN


KJ-JL -- LA035 -- 8016 02/07/92 21:55 EST
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Date:Feb 7, 1992
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