Backfired

Calpine: Nevada Power Tried to ‘Out-Maneuver’ Market in 2000, but Strategy Backfired

A lawyer for a California-based power supplier said last Wednesday that Nevada Power and affiliate Sierra Pacific Power Co., which are seeking to reform electric contracts negotiated at the height of the western energy crisis, have only themselves to blame for the above-market contract arrangements with which they now are saddled.

April 28, 2003