SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 2.SEGMENT INFORMATION

The Utilities operate three regulated business segments, NPC electric, SPPC electric and SPPC natural gas service, which are reported in accordance with Segment Reporting of the FASC. Electric service is provided to Las Vegas and surrounding Clark County by NPC, and to northern Nevada by SPPC. Natural gas services are provided by SPPC in the Reno-Sparks area of Nevada. Other information includes amounts below the quantitative thresholds for separate disclosure.

Operational information of the different business segments is set forth below based on the nature of products and services offered. NVE evaluates performance based on several factors, of which the primary financial measure is business segment gross margin. Gross margin, which the Utilities calculate as operating revenues less energy and energy efficiency program costs, provides a measure of income available to support the other operating expenses of the Utilities. See Note 1, Summary of Significant Accounting Policies, of the 2012 Form 10-K for further information regarding energy efficiency program costs.

Operating expenses are provided by segment in order to reconcile to operating income as reported in the consolidated financial statements (dollars in thousands).

Three Months Ended
March 31, 2013			NVE
		Consolidated		NVE Other		NPC Electric		SPPC Total		SPPC Electric		SPPC Gas
Operating Revenues		$	584,222	$	3	$	371,863	$	212,356	$	172,627	$	39,729
Energy Costs:
	Fuel for power generation		147,248		-		105,531		41,717		41,717		-
	Purchased power		121,310		-		81,408		39,902		39,902		-
	Gas purchased for resale		37,620		-		-		37,620		-		37,620
	Deferred energy		(79,065)		-		(45,355)		(33,710)		(19,335)		(14,375)
Energy efficiency program costs			9,845		-		7,967		1,878		1,878		-
Total Costs		$	236,958	$	-	$	149,551	$	87,407	$	64,162	$	23,245
Gross Margin		$	347,264	$	3	$	222,312	$	124,949	$	108,465	$	16,484
Other operating expenses			104,672		1,475		67,392		35,805
Maintenance			24,906		-		18,075		6,831
Depreciation and amortization			96,002		-		68,661		27,341
Taxes other than income			16,476		222		9,959		6,295
Operating Income (Loss)		$	105,208	$	(1,694)	$	58,225	$	48,677

Three Months Ended
March 31, 2012			NVE
		Consolidated		NVE Other		NPC Electric		SPPC Total		SPPC Electric		SPPC Gas
Operating Revenues		$	611,420	$	4	$	395,688	$	215,728	$	169,806	$	45,922
Energy Costs:
	Fuel for power generation		117,035		-		80,549		36,486		36,486		-
	Purchased power		117,116		-		81,531		35,585		35,585		-
	Gas purchased for resale		31,617		-				31,617		-		31,617
	Deferred energy		(11,739)		-		2,171		(13,910)		(12,670)		(1,240)
Energy efficiency program costs			19,425		-		15,774		3,651		3,651		-
Total Costs		$	273,454	$	-	$	180,025	$	93,429	$	63,052	$	30,377
Gross Margin		$	337,966	$	4	$	215,663	$	122,299	$	106,754	$	15,545
Other operating expenses			103,601		707		66,462		36,432
Maintenance			32,526		-		23,073		9,453
Depreciation and amortization			90,862		-		64,990		25,872
Taxes other than income			14,509		192		8,454		5,863
Operating Income (Loss)		$	96,468	$	(895)	$	52,684	$	44,679