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COPYRIGHT 2003 Las Vegas Review-Journal
BYLINE: JOHN G. EDWARDS, REVIEW-JOURNAL
Sierra Pacific Resources, parent company of Nevada Power Co., faces $287 million in claims from wholesale power suppliers in the wake of a federal regulatory decision Wednesday.
The three-member Federal Energy Regulatory Commission vote to reject requests from the utility to throw out or modify high-priced power purchase contracts entered during the Western energy crisis of 2000 and 2001.
The utilities have received claims from Enron Corp. and several other suppliers for a total of $311 million for termination of power contracts. These companies stopped selling power to the utilities when the rating agencies downgraded the...
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