Nevada Power

, a wholly owned subsidiary of

Sierra Pacific Resources

(SRP)

, said Friday that it will redeem the remaining $12.6 million of its 10 7/8% general and refunding mortgage notes on Oct. 16.

The utility will redeem the Series E notes, due 2009, at a redemption price equal to $1,054.38 for each $1,000 note redeemed, including accrued and unpaid interest to the redemption date.

On and after the redemption date (upon payment of the redemption price by the company), interest on the notes will cease to accrue and the holders of the notes will no longer be entitled to the lien of the general and refunding mortgage.

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