LAS VEGAS, July 26, 2013 /PRNewswire/ — NV Energy, Inc. (NVE) today announced financial results for the three and six months ended June 30, 2013.
Key factors benefiting earnings for the second quarter of 2013 compared to the same period a year ago included:
•increased usage independent of weather,
•growth in the number of customers, and
•reduced interest expense.
Factors offsetting these benefits in the second quarter included costs related to the planned merger with MidAmerican Energy Holdings, a subsidiary of Berkshire Hathaway ($13.6 million pre-tax, or $0.04 per share after tax). For further information regarding drivers of financial results, see the earnings report to the financial community posted on www.nvenergy.com.
“During the second quarter, we announced plans to merge with MidAmerican Energy, and the Nevada State Legislature passed a law to reduce reliance on coal plants,” said Michael Yackira, president and chief executive officer of NV Energy, Inc. “As we move forward, we will continue to control costs while keeping an unwavering focus on our top priority: serving our customers with safe, reliable, affordable energy.”