Document:

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                                                                    Exhibit 10.2

                         SEVERANCE AND RELEASE AGREEMENT

PARTIES

The parties to this Severance and Release Agreement ("Agreement") are Sierra
Pacific Resources and its affiliates Nevada Power Company and Sierra Pacific
Power Company (collectively referred to as "Company"), and Steven C. Oldham
("Employee").

BASIS

(a)      Employee currently holds the position of Senior Vice President, Energy
         Supply, with the Company.

(b)      Employee has had access to Confidential Information, as hereinafter
         defined. Employee has occupied a position of trust and confidence with
         respect to such Confidential Information.

(c)      This Agreement is intended as a final settlement of any and all claims,
         known or unknown, that Employee may have against Company arising out of
         or related to his employment with Company and the termination of that
         employment, including, but not limited to all rights Employee may have
         pursuant to any express or implied Employment Agreement or any Change
         In Control Agreement or severance plan or agreement. This Agreement
         provides Employee with benefits that exceed the benefits contained in
         the Employment Agreement, as defined below, and is adequate
         consideration for this Agreement.

TERMS OF AGREEMENT

1.       DEFINED TERMS

         1.1      "COMPETING ORGANIZATION" means persons or organizations,
                  including Employee, engaged in, or who may become engaged in,
                  research or development, production, distribution, marketing,
                  providing or selling of a Competing Product or Service.

         1.2      "COMPETING PRODUCTS OR SERVICES" means products, processes, or
                  services of any person or organization, other than Company, in
                  existence or under development, which are substantially the
                  same as or which compete with the products, processes, or
                  services being developed, manufactured, or sold by Company
                  during the time of Employee's

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                  employment with Company, including, but not limited to,
                  products, processes, and services related to the generation,
                  transmission, or distribution of electric energy and/or the
                  buying, selling, scheduling of electric energy or capacity, or
                  any risk management activities associated therewith.

         1.3      "CONFIDENTIAL INFORMATION" means any plan, specification,
                  pattern, procedure, profile, design, device, list,
                  compilation, data, or information relating to the present or
                  planned business of Company which has not been released
                  publicly by authorized representatives of Company, including,
                  but not limited to trade secrets as defined in NRS 600A.010 et
                  seq. Confidential Information may include inventions;
                  marketing and sales plans or programs; customer and supplier
                  information; financial data; purchasing, pricing, or supply
                  information; product engineering information; technological
                  know-how; designs, plans or specifications regarding products
                  and materials; manufacturing processes and techniques;
                  regulatory approval strategies; computer programs, data,
                  formulae and compositions; service techniques and protocols;
                  and new product strategies, plans and designs. Confidential
                  Information also includes information that if disclosed, could
                  negatively affect the Company's reputation and it's
                  relationship with business, governmental agencies and
                  customers. Confidential Information includes all information
                  received by Company under an obligation of confidentiality to
                  a third party.

         1.4      "EMPLOYMENT AGREEMENT" means all previous agreements, express
                  or implied, between Company and Employee.

         1.5      "RESTRICTED AREA" means the State of Nevada and the service
                  territories of the Company.

2.       TERMINATION OF EMPLOYMENT

         2.1      Company shall terminate Employee's employment with Company
                  effective May 20, 2002 ("Termination or Separation Date"). Any
                  accrued and unused Paid Time Off will be included in
                  Employee's final paycheck. Employee agrees not to seek
                  re-employment with Company or any of its subsidiaries or
                  affiliates.

3.       BENEFITS TO EMPLOYEE

         3.1      Company shall pay to Employee severance in the amount of
                  $245,000.00 ("Severance"), payable on the condition that in
                  Company's reasonable judgment Employee is in full compliance
                  with the confidentiality, non-competition, and
                  non-disparagement provisions of the Agreement, one-half at
                  separation, one-quarter 90 days after the date of separation,
                  and

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                  one-quarter on the first anniversary of his date of
                  separation. The Severance shall be subject to withholding,
                  deductions, assessments and taxes, if applicable.

         3.2      Commencing on the Termination Date, the Company shall continue
                  to cover Employee and Employee's dependants as defined in the
                  Health Plan under its medical, prescriptive drugs, dental,
                  vision and EAP employee welfare benefit plans ("Health Plans")
                  to the same extent as Employee and his dependents are covered
                  immediately prior to the Termination Date until July 31, 2005,
                  to the same extent as Employee and his dependents are covered
                  immediately prior to the Termination Date. Company shall pay
                  all costs incurred in providing the above-described coverage
                  for Employee. Employee shall be eligible to participate in
                  open enrollment and is subject to any amendments or changes
                  that would apply to other covered employees. If Employee
                  becomes eligible for similar coverage through another employer
                  or disability, then Employee shall notify Company of such
                  coverage and Company shall be entitled to terminate coverage
                  under this Agreement and/or offer Employee COBRA in the form
                  and manner required by law.

         3.3      On July 9, 2005, Employee shall be 55 years old. As of that
                  date, Employee is eligible with 30 years of service to receive
                  benefits under vested pension under the Sierra Pacific
                  Resources Retirement Plan ("Retirement Plan"). Beginning
                  August 1, 2005, the Company shall provide Employee with
                  coverage under its Medical Plans in the same form and manner
                  as employees who elect retiree medical coverage with 30 years
                  of service. Employee shall be required to reimburse the
                  Company for Employee's portion of the costs of coverage in the
                  form and manner as employees who elect retiree medical
                  coverage with 30 years of service. Medical benefits provided
                  to Employee pursuant to this section may be subject to federal
                  taxes and the Company must report premium payments and paid
                  claims to the IRS. Coverage and benefits are subject to any
                  and all changes in said plans and benefits as may be made by
                  Company after the date of Termination.

         3.4      Employee's accrued Supplemental Executive Retirement Plan
                  ("SERP") benefits shall be fully vested as of the Termination
                  Date, and Employee may elect to be paid, in cash, the present
                  value of his vested SERP within seven days of his Termination
                  Date as allowed by the Plan. Alternatively, Employee may elect
                  to begin receiving the appropriate annuity when he reaches age
                  55. The SERP payment shall include new provisions in the Plan
                  which includes the 2000 and 2001 STIPs as though said STIPs
                  had been paid and, in addition, shall include a payment which
                  will grant Employee additional years of service under the SERP
                  from the Termination Date to the date Employee reaches the age
                  of 55. After

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                  payment, Employee shall have no further claims or benefits
                  under the SERP.

         3.5      All Non-Qualified Stock Options ("Options") will automatically
                  vest on Employee's Termination Date, and Employee shall have
                  the right to exercise said options in accordance with the
                  terms of their original grant and the terms of the Executive
                  Long-Term Incentive Plan.

         3.6      Employee is covered under Supplemental Executive Life
                  insurance. Employee shall continue to be covered under such
                  insurance until May 31, 2002, at which time Employee shall
                  have the option of converting such insurance in strict
                  accordance with the terms of such policy and paying the
                  premiums thereon.

         3.7      If ever in the future the Company's officers are paid a STIP
                  for the year 2000 ("2000 STIP"), then the Employee shall be
                  paid the 2000 STIP at the same time and in the form and manner
                  paid to the other officers. The 2000 STIP shall be subject to
                  withholding, deductions, assessments, and taxes, if
                  applicable. If ever the Company's officers are paid a STIP for
                  the year 2001 ("2001 STIP"), then the Employee shall be paid
                  the 2001 STIP at the same time and in the form and manner paid
                  to the other officers. The 2001 STIP shall be subject to
                  withholding, deductions, assessments, and taxes, if
                  applicable. If ever the Company's officers are paid a STIP for
                  the year 2002 ("2002 STIP"), then the Employee shall be paid a
                  prorated portion of the 2002 STIP at the same time and in the
                  form and manner paid to the other officers. Employee's
                  prorated portion of the 2002 STIP shall be calculated by
                  dividing the number of hours credited to Employee during 2002
                  (1/1/02 through Termination Date) by 2080, and Employee shall
                  be entitled to receive the resulting percentage of the 2002
                  STIP. The 2002 STIP shall be subject to withholding,
                  deductions, assessments, and taxes, if applicable.

         3.8      Subject to the express condition that in Company's reasonable
                  judgment at the time of each payment that Employee is in full
                  compliance with the confidentiality, non-competition, and
                  non-disparagement provisions of this Agreement, beginning on
                  the first day of the month after the Termination Date and on
                  the first day of each month thereafter, ending on the first
                  day of the month in which Employee reaches age 55, Employee
                  shall be paid a monthly payment of $4,300.00.

4.       CONFIDENTIALITY

         4.1      Employee shall preserve as confidential all Confidential
                  Information. Employee shall not use Confidential Information
                  for the benefit of Employee or any third party. Employee shall
                  not disclose to others any Confidential Information or any
                  copy or notes made from any Item

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                  embodying Confidential Information. If Employee is required to
                  disclose Confidential Information pursuant to a valid order of
                  a court or other governmental entity or any political
                  subdivision thereof; then Employee shall first give notice to
                  Company so that Company shall have a reasonable opportunity to
                  interpose an objection or obtain a protective order requiring
                  that the Confidential Information and/or documents so
                  disclosed be used only for the purposes for which the order
                  was issued.

5.       NON-DISPARAGEMENT

         5.1      Employee agrees to not make disparaging statements about the
                  Company or its officers and/or directors to third parties such
                  as the news media, governmental officials, or governmental
                  agencies. This section does not apply to testimony made under
                  oath before a court or governmental entity. This section does
                  not apply to statements of opinion made to family and friends
                  so long as they are not news media, governmental officials, or
                  governmental agencies.

6.       NON-COMPETITION

         6.1      Without express consent of the Company's CEO for a period of
                  one year after Employee's Termination Date, Employee shall
                  not, directly or indirectly, assist, provide services or
                  consultation to, enter into, engage in or acquire any
                  ownership interest in, or become employed by or associated
                  with, any Competing organization doing business or seeking to
                  commence doing business in the Restricted Area. This includes,
                  but is not limited to, services rendered to such Competing
                  organization in an executive, managerial, administrative, or
                  consulting capacity in connection with Competing Products or
                  Services in support of actual competition in geographic areas
                  other than where the services are performed and thus may fall
                  within the prohibition of this Agreement, regardless of where
                  such services physically are rendered. This limitation
                  includes, but is not limited to, any contact or solicitation,
                  either for Employee's benefit or for the benefit of any other
                  person or entity, and Employee will not in any manner assist
                  any person or entity in making any such contact or
                  solicitation.

         6.2      Employee shall not solicit any employee of Company to
                  terminate his or her employment or relationship with Company
                  or to perform any service for Employee or for any Competing
                  Organization.

         6.3      Employee agrees that the restrictions set forth in paragraphs
                  6.1 and 6.2 are fair and reasonable and are reasonably
                  required for the protection of the interests of the Company.
                  Employee agrees that compliance with the provisions of
                  paragraphs 6.1 and 6.2 will not cause Employee undue

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                  hardship nor unreasonably interfere with Employee's ability to
                  earn a livelihood.

7.       RELEASE

         7.1      Employee hereby waives and releases Company and its officers,
                  directors, agents, and employees (collectively referred to as
                  "Company Agents") from any claims, rights, contracts or causes
                  of action existing or accrued as of the date this Agreement is
                  signed that Employee may have against Company or Company
                  Agents (collectively referred to as "Claims") which arise out
                  of or are related to Employee's employment with Company
                  (collectively referred to as "Release") or the termination of
                  said employment. This Release includes, but is not limited to,
                  the following:

                  7.1.1    Claims which are known or unknown at the time of the
                           signing of this Agreement;

                  7.1.2    Claims which arise under any state or federal laws,
                           including, but not limited to, the Civil Rights Act
                           of 1964, as amended, and the Age Discrimination in
                           Employment Act of 1967, as amended, which have arisen
                           on or before the date of execution of this Agreement;
                           and

                  7.1.3    Claims based upon any contract of employment,
                           including but not limited to, the Change in Control
                           Agreement, except as set forth herein.

         7.2      Employee shall not commence any action against Company or
                  Company Agents in violation of this Release.

         7.3      Employee does not waive any Claim which arises after the
                  effective date of this Agreement.

         7.4      Employee further expressly acknowledges and agrees that:

                  7.4.1    In consideration for this Waiver, Employee shall
                           receive compensation beyond that which Employee was
                           otherwise entitled to receive before entering into
                           this Agreement;

                  7.4.2    Employee has been advised to consult with an attorney
                           before signing this Agreement;

                  7.4.3    This Agreement is being offered only to Employee at
                           this time.

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                  7.4.4    Employee was given a copy of the Agreement on or
                           about May 10, 2002. Employee was informed that
                           Employee had 21 days within which to consider the
                           Agreement. If Employee fails to execute this
                           Agreement within said 21-day period, then the terms
                           and conditions contained in this Agreement are
                           automatically withdrawn without further action or
                           notice by Company.

                  7.4.5    Employee was informed and understands that Employee
                           has seven days following the date Employee executes
                           this Agreement in which to revoke this Agreement. Any
                           revocation of the Agreement must be in writing and
                           delivered to the Acting Vice-President of Human
                           Resources of Company during the revocation period.
                           This Agreement will become effective and enforceable
                           seven days following execution by Employee, unless it
                           is revoked during the seven-day period.

8.       MISCELLANEOUS PROVISIONS

         8.1.     AGREEMENT IS CONFIDENTIAL: Unless and until the terms of this
                  Agreement, and the amount of any payment eligible to be paid
                  or actually paid under this Agreement, are disclosed in
                  writing to the public by Company pursuant to any applicable
                  legal duty to disclose such information, it shall be a
                  condition of eligibility to receive or retain any payment
                  pursuant to this Agreement that Employee hold the terms of
                  this Agreement and the amount of any payment hereunder in
                  strict confidence. Employee may disclose such information on a
                  confidential basis to Employee's spouse and to any financial
                  counselor, tax advisor or legal counsel retained by Employee.

         8.2      ASSIGNMENT BY COMPANY: The obligations of Company hereunder
                  shall be the obligations of any and all successors and assigns
                  of Company. Company may assign this Agreement without
                  Employee's consent to any affiliate or subsidiary of Company.
                  Company may assign this Agreement without Employee's consent
                  to any company that acquires all or substantially all of the
                  stock or assets of Company, or into which or with which
                  Company is merged or consolidated. The Employee may not assign
                  the Agreement, and no person other than Employee or Employee's
                  estate may enforce the rights of Employee under this
                  Agreement.

         8.3      WAIVER: The waiver by Company of a violation by Employee of
                  any provision of this Agreement shall not be construed as a
                  waiver of any subsequent violation.

         8.4      SEVERABILITY: The provisions of this Agreement shall be
                  severable, and in the event that any portion or provision of
                  it is found by any court to be

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                  unenforceable, in whole or in part, the remainder of this
                  Agreement shall nevertheless be enforceable and binding on the
                  parties. In the event that any restriction set forth in this
                  Agreement shall be declared by a court of competent
                  jurisdiction to exceed the maximum restriction such court
                  deems reasonable and enforceable, the restriction deemed
                  reasonable and enforceable by the court shall become and
                  thereafter be the maximum restriction hereunder.

         8.5      REVIEW OF AGREEMENT: Employee acknowledges that Employee had
                  sufficient opportunity to review this Agreement with an
                  attorney or, if Employee did not do so, it is because Employee
                  read and understands this Agreement and did not believe that
                  legal advice was necessary. Employee agrees that the
                  restrictions contained in this Agreement are fair and
                  appropriate under the circumstances.

         8.6      DISPUTE RESOLUTION: Any dispute between the parties which is
                  covered by, arises out of, or is based upon this Agreement
                  shall be settled by final and binding arbitration. Any award
                  or determination rendered by the arbitrator may be entered as
                  a judgment in any court having jurisdiction thereof. The
                  arbitration is subject to the following:

                  8.6.1    The arbitration shall be administered by the American
                           Arbitration Association ("AAA") in accordance with
                           its Employment Dispute Resolution Rules ("Rules") in
                           effect at the time of the arbitration.

                  8.6.2    The arbitration shall be heard by one neutral
                           arbitrator. The arbitrator shall be an attorney
                           admitted to the practice of law in at least one
                           state.

                  8.6.3    The arbitrator shall have the authority to award any
                           remedy or relief that a state or federal court having
                           jurisdiction over the persons and subject matter is
                           authorized to grant.

                  8.6.4    The Company shall pay all of the costs and/or fees
                           charged by AAA and the arbitrator. The arbitrator
                           shall have the authority to award attorney's fees and
                           costs pursuant to sub-section 8.6.3 above.

         8.7      JURISDICTION: This Agreement shall be construed under the laws
                  of the State of Nevada except where Federal laws are
                  applicable. Venue for any arbitration or action to enforce the
                  arbitration provisions of this Agreement shall be in the State
                  of Nevada.

         8.8      EFFECTIVE DATE: This Agreement shall become effective on the
                  date it is signed by the Employee.

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         8.9      FINAL AGREEMENT: This Agreement supercedes all prior
                  understandings, statements or agreements concerning the
                  subject matter of this Agreement, including the Employment
                  Agreement or Change in Control Agreement. Any amendment to
                  this Agreement shall be in writing and signed by both parties.
                  This Agreement contains all of the terms and conditions agreed
                  upon by the parties. There are no understandings or agreements
                  which conflict or modify the terms of this Agreement. Company
                  has made no representations or promises upon which Employee
                  relies in signing this Agreement except the terms set forth
                  herein. Company has made no representations upon which
                  Employee relies concerning the tax characteristics or status
                  of the benefits described in this Agreement.

COMPANY                                      STEVEN C. OLDHAM

By:
   --------------------------------          ----------------------------------
Date: May __, 2002                           Date: May __, 2002

SCO-SEVAGRMT02

                                       9<PAGE>
                                                                    Exhibit 10.3

                             CONFIDENTIAL TREATMENT

Nevada Power Company has requested that the marked portions of this document be
accorded confidential treatment pursuant to Rule 24b-2 under the Securities
Exchange Act of 1934, as amended.

                               MASTER AMENDMENT TO
                      CONFIRMATION AGREEMENTS (NPC - POWER)

                            Dated as of June 4, 2002

         This Master Amendment to Confirmation Agreements (this "Confirmation
Amendment") provided pursuant to and in accordance with the Western Systems
Power Pool Agreement (the "WSPP Agreement") is made by and between the Nevada
Power Company, a Nevada corporation ("Nevada Power") and wholly owned subsidiary
of Sierra Pacific Resources, a Nevada corporation ("Sierra Pacific"), and Duke
Energy Trading and Marketing, L.L.C., a Delaware limited liability company
("DETM").

         WHEREAS, Nevada Power and DETM are currently parties to certain
Confirmation Agreements (as defined in the WSPP Agreement) and the transactions
thereunder including, but not limited to, those listed on Schedule A attached
hereto and made a part hereof (collectively, the "Existing Confirmation
Agreements");

         WHEREAS, Nevada Power is currently in default with respect to certain
of its obligations under the Existing Confirmation Agreements;

         WHEREAS, Nevada Power and DETM desire to set forth in this Confirmation
Amendment certain payment and other terms that will amend and supplement the
Existing Confirmation Agreements and all Confirmation Agreements executed with
respect to future transactions between the parties under the WSPP Agreement (the
"New Confirmation Agreements"); and

         WHEREAS, in consideration of the agreement of DETM to temporarily waive
the effect of Nevada Power's default under the Existing Confirmation Agreements
as set forth herein, and in consideration of Nevada Power's agreement to be
bound by the terms hereof, Nevada Power and DETM have agreed to execute this
Confirmation Amendment.

         NOW THEREFORE, the parties hereto agree as follows:

1.   Payment Terms Under Existing Confirmation Agreements During Delay Period.

     (a)    Continued Supply. Each of Nevada Power and DETM agree to continue to
         deliver energy to the other under the Existing Confirmation Agreements.

     (b)    Delay Period. All amounts payable by Nevada Power to DETM and by
         DETM to Nevada Power under the Existing Confirmation Agreements for
         energy delivered during the period May 1, 2002 through September 15,
         2002 (the "Delay Period") shall be subject to the payment terms and
         conditions set forth in Sections
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         1 through 3 of this Confirmation Amendment and all other provisions
         relating to the Delay Amount.

     (c)    Payment Amounts For Delay Period Deliveries. Nevada Power shall pay
         DETM and DETM shall pay Nevada Power, as applicable, for energy
         deliveries under the Existing Confirmation Agreements during the Delay
         Period an amount in cash equal to the Adjusted Net Cash Payment Price
         per megawatt hour, as set forth on Schedule B attached hereto and made
         a part hereof (each such payment being a "Delay Period Payment"). Such
         payments from Nevada Power and from DETM shall be netted on each
         applicable Delay Period Payment date, such that Nevada Power shall pay
         to DETM the net amount outstanding from Nevada Power to DETM remaining
         on each such date. Except as otherwise set forth in this Confirmation
         Amendment, the terms and conditions of each Delay Period Payment shall
         be as set forth in the Existing Confirmation Agreements.

2.   Delay Amount Payment Terms.

     (a)    Delay Amount. The "Delay Amount" is $**********, calculated as the
         difference between (i) the aggregate amount of all payments due from
         Nevada Power to DETM (after netting the payments due from DETM to
         Nevada Power) required during the Delay Period under the Existing
         Confirmation Agreements and (ii) the aggregate amount of all Delay
         Period Payments scheduled to be received by the DETM under Section
         1(c).

     (b)    Maturity and Interest. The Delay Amount, including any accrued and
         unpaid interest in respect thereof, shall be due and payable on
         December 31, 2003, Interest shall accrue on the unpaid portion of the
         Delay Amount beginning on June 20, 2002 at an annual rate of
         **********. Accrued and unpaid interest shall be payable semi-annually
         in cash in arrears on each December 31 and June 30, beginning December
         31, 2002. If the Delay Amount is not paid in full on or before December
         31, 2003, interest shall accrue on the unpaid portion of the Delay
         Amount from and after January 1, 2004 at an annual rate of **********.
         Interest shall be calculated on the basis of a year of 365 days and
         charged for the actual number of days elapsed through and including the
         date of repayment, provided that in no event shall interest paid,
         charged or received exceed the maximum rate of interest allowed by
         applicable law.

     (c)    Manner of Payment. All Delay Amount payments and payments of
         interest thereon shall be made by wire transfer of immediately
         available funds. If any Delay Amount payment, including any interest
         payment in respect thereof, is due on a day that is not a Business Day,
         the payment shall be due on the next succeeding Business Day, and the
         extension of time shall be included in the period of time used for
         purposes of calculating the amount of interest payable under this
         Confirmation Amendment.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
      (d)   Mandatory Prepayments.

            (i)   DETM's Pro Rata Portion. In this Section 2(d), "DETM's Pro
                  Rata Portion" means a fraction, the numerator of which is
                  equal to the Delay Amount and the denominator of which is
                  equal to the aggregate amount of the Delay Amounts of all
                  existing energy suppliers ("Continuing Suppliers") who are
                  parties to a master agreement with Nevada Power and who have
                  not terminated their respective master agreements and who
                  continue to deliver energy to Nevada Power under the existing
                  terms and conditions thereof (except for any amendments
                  permitted under Section 3 (a)(ii) hereof) (the "Aggregate
                  Delay Amount A").

            (ii)  October Mandatory Prepayment. On or before October 25, 2002,
                  Nevada Power shall make a mandatory prepayment of the Delay
                  Amount to DETM equal to DETM's Pro Rata Portion of Nevada
                  Power's September Excess Cash. "September Excess Cash" means
                  unrestricted cash and cash equivalents of Nevada Power on
                  September 30, 2002 in excess of $75,000,000 (which amount is
                  currently estimated to be not less than $30,000,000).

            (iii) Mandatory Prepayment from Available Cash. Until the Delay
                  Amount has been paid in full, Nevada Power shall make
                  additional mandatory prepayments of the Delay Amount each
                  February 15, May 15, August 15 and November 15, beginning
                  February 15, 2003, in an amount equal to DETM's Pro Rata
                  Portion of an amount equal to 50% of Nevada Power's Available
                  Cash (defined below) for the prior calendar quarter. Mandatory
                  prepayments shall be applied first to any accrued and unpaid
                  interest on the amount of the Delay Amount to be prepaid, then
                  to prepayment of the unpaid Delay Amount. "Available Cash" for
                  a calendar quarter means an amount equal to Nevada Power's
                  earnings before deduction of interest, taxes on or measured by
                  income or gross receipts, depreciation, and amortization (as
                  those terms are used in Generally Accepted Accounting
                  Principles) and adjusted for deferred energy accounting as
                  provided in Section 704.187 of the Nevada Revised Statutes,
                  plus the aggregate net cash amount of all Asset Sale Proceeds
                  (defined below) not previously included in the calculation of
                  Available Cash in any prior calendar quarter, less the sum of
                  (A) Nevada Power's cash interest expense, including the amount
                  of any scheduled interest payments from Nevada Power to NVP
                  Capital I and NVP Capital III (each a "Trust Preferred
                  Vehicle"); (B) scheduled principal payments by Nevada Power of
                  its indebtedness, including any scheduled maturities arising
                  from a refinancing and excluding any maturities, or any
                  portion thereof, that are refinanced or extended); (C) income
                  taxes paid by Nevada Power (less any tax refunds received);
                  (D) capital expenditures of Nevada Power; (E) other cash
                  disbursements of Nevada Power required in the ordinary course
                  of business; and (F) an amount equal to the amount of cash
                  that is required to maintain a $50,000,000
<PAGE>
                  balance of cash available to Nevada Power as of the last day
                  of the quarter. "Asset Sale Proceeds" means the amount in
                  excess of $25,000,000 in aggregate net proceeds received by
                  Nevada Power from sales of its assets, individually or in the
                  aggregate from the date of this Confirmation Amendment,
                  excluding the net proceeds received by Nevada Power from any
                  asset sale resulting in $5,000,000 or less of net cash
                  proceeds to Nevada Power and excluding the net proceeds
                  received by Nevada Power from any sale of accounts receivable
                  that is reasonably necessary for Nevada Power to effectuate at
                  such time to have sufficient funds to prudently operate its
                  business.

            (iv)  Mandatory Prepayment from Excess Financing Proceeds. Nevada
                  Power shall, within 7 Business Days after it receives any
                  Excess Financing Proceeds, prepay the Aggregate Delay Amount A
                  by an amount equal to any Excess Financing Proceeds and shall
                  pay DETM an amount equal to DETM's Pro Rata Portion of the
                  amount of the Aggregate Delay Amount A. "Excess Financing
                  Proceeds" means, with respect to any financing (including any
                  sale of accounts receivable that is excluded from the
                  definition of Asset Sale Proceeds) other than a refinancing,
                  exchange, defeasance or modification of existing indebtedness
                  limited to an amount equal to such existing indebtedness, an
                  amount equal to the excess of (A) the net proceeds of any
                  financing that Nevada Power receives over (B) the sum of (I)
                  the total amount of all indebtedness (including principal and
                  interest) of Nevada Power with a scheduled maturity, without
                  acceleration, within 75 days of the date on which Nevada Power
                  receives the financing proceeds (unless such indebtedness is
                  reasonably anticipated to be paid with other sources of funds
                  or extended or refinanced within such 75-day period), (II) an
                  amount equal to Nevada Power's total actual capital
                  expenditures for the 12 months immediately preceding the month
                  during which Nevada Power receives the financing proceeds and
                  (III) an amount equal to the amount of such cash proceeds
                  required by the Revolver (as defined below) to be used to
                  prepay Revolving Indebtedness (as defined below).
                  "Indebtedness" shall have the meaning assigned to such term in
                  the Revolver. "Revolver" means the amount of Indebtedness that
                  is outstanding pursuant to the Credit Agreement, dated as of
                  November 30, 2001, by and among the Nevada Power, the Lenders
                  parties thereto from time to time (the "Lenders"), Union Bank
                  of California, N.A., as Sole Bookrunner and Administrative
                  Agent for the Lenders, Wells Fargo Bank, N.A., as Syndication
                  Agent, Bank One, NA, BNP Paribas and Mellon Bank, N.A., as
                  Co-Documentation Agents, and Union Bank of California, N.A.
                  and Wells Fargo Bank, N.A., as Co-Lead Arrangers, as amended,
                  replaced or refinanced in whole or in part from time to time.
                  "Revolving Indebtedness" means the amount of Indebtedness that
                  is outstanding pursuant to the Revolver.
<PAGE>
      (e)   Restriction on Prepayment of Other Debt. Nevada Power shall not (i)
            prepay any of its indebtedness (other than a refinancing, exchange,
            defeasance or modification of its existing indebtedness limited to
            an amount equal to such existing indebtedness or any prepayment of
            the Aggregate Delay Amount A) or (ii) repay or prepay any of its
            Revolving Indebtedness unless it prepays the Aggregate Delay Amount
            A on a pro rata basis based on the amounts outstanding at such time.
            "Prepay" means pay any indebtedness more than 45 days prior to the
            scheduled maturity date of the indebtedness. Notwithstanding the
            foregoing, Nevada Power may repay any Revolving Indebtedness in the
            ordinary course of business so long as the current amount available
            for borrowing thereunder (whether or not drawn) is not reduced.

      (f)   Optional Prepayment of Delay Amount. Nevada Power may, without
            premium or penalty, at any time and from time to time, prepay all or
            any portion of the outstanding Delay Amount due under this
            Confirmation Amendment. Any optional prepayment shall be applied
            first to accrued and unpaid interest on the amount of the
            prepayment, calculated as of the date of the prepayment, and then to
            the Delay Amount.

      (g)   Distribution of Payments. Any payment (whether optional or
            mandatory) of the Delay Amount or any portion of the Aggregate Delay
            Amount A shall be distributed pro rata among all Continuing
            Suppliers based on each Continuing Supplier's Pro Rata Portion of
            the Aggregate Delay Amount A.

3.   Covenants During Delay Period.

      (a)   Nevada Power. Nevada Power covenants and agrees with DETM:

            (i) Limitation on Dividends. For as long as any portion of the Delay
            Amount remains unpaid, Nevada Power shall not declare any dividends
            or make any dividend payments or other payments on account of any of
            its equity securities except: (A) payments to Sierra Pacific to
            enable Sierra Pacific to pay its reasonable fees and expenses
            (including, but not limited to, interest on Sierra Pacific's
            indebtedness and payment obligations on account of Sierra Pacific's
            premium income equity securities) incurred in the ordinary course of
            business in the calendar year 2003, which fees and expenses for
            calendar year 2003 shall not be greater than $20,000,000; and (B)
            currently scheduled payments to any Trust Preferred Vehicle.

            (ii) Limitation on Other Agreements and Payments. For as long as any
            portion of the Delay Amount remains unpaid, Nevada Power shall not
            enter into any agreement with or make any payments to any Continuing
            Supplier of energy to Nevada Power (whether or not the supplier is a
            party to an amendment to the applicable master agreement with Nevada
            Power in a form substantially similar to the provisions of this
            Confirmation Amendment relating to the Delay Amount) on any terms
            more advantageous to the Continuing Supplier than the terms set
            forth in this Confirmation Amendment
<PAGE>
            (other than with respect to documentation of or payment for energy
            or gas transactions in addition to existing contractual quantities
            supplied to Nevada Power after May 1, 2002, which documentation
            shall not contain terms with respect to the Delay Amount more
            advantageous to the Continuing Supplier than the terms set forth in
            this Confirmation Amendment with respect thereto).

            (iii) Best Efforts. Nevada Power represents that it is not legally
            necessary to obtain the approval of the Public Utility Commission of
            Nevada to this Confirmation Amendment, provided that Nevada Power
            agrees to use its reasonable best efforts to obtain such approval if
            DETM requests, and, if DETM requests such approval, DETM shall
            reasonably cooperate with Nevada Power in obtaining such approval.

      (b)   DETM. DETM temporarily waives the effect of any and all Nevada Power
            defaults or breaches of the Existing Confirmation Agreements
            existing on the date of this Confirmation Amendment or as of any
            prior date, until the earlier of (i) the date an Event of Default
            (as hereinafter defined) occurs or (ii) December 31, 2003, after
            which the waiver contained in this section shall end and be of no
            further force and effect, and the terms of the Existing Confirmation
            Agreements (as amended by this Confirmation Amendment) shall govern
            any such default or breach thereof by Nevada Power; provided that if
            the Delay Amount has been repaid in full prior to such earlier date,
            the waiver shall become permanent in all respects.

4.   Payment Terms Under New Confirmation Agreements.

      (a)   [****]

            (i)  [****]

      (b)   [****]

            (i)  [****]
            (ii) [****]

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.

<PAGE>

      (c)   [****]

5.   Representations and Warranties.

      (a)   Nevada Power. Nevada Power represents and warrants that it has the
         right, power, and corporate authority to enter into and perform its
         obligations under this Confirmation Amendment. Nevada Power's
         execution, delivery and performance of this Agreement has been duly
         authorized, no further action is necessary on the part of Nevada Power
         and no consents or other approvals are required to be obtained in
         connection therewith. The execution and delivery of this Confirmation
         Amendment does not contravene, or constitute a default under, any
         provision of applicable law or regulation or its organizational
         documents or any material agreement, judgment, injunction, order,
         decree or other instrument binding upon it or result in any creation or
         imposition of any lien on any of its assets. This Confirmation
         Amendment has been duly and validly executed and delivered by Nevada
         Power and, assuming the due execution and delivery by the other party
         hereto, constitutes a valid and binding obligation of Nevada Power,
         enforceable against it in accordance with its terms subject to
         applicable bankruptcy, reorganization, insolvency, receivership or
         other similar laws affecting creditors' rights generally and equitable
         principles of general application (regardless of whether enforcement is
         sought in a proceeding in equity or at law).

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.

<PAGE>
      (b)   DETM. DETM represents and warrants to Nevada Power that DETM has the
         right, power, and authority to enter into and perform its obligations
         under this Confirmation Amendment. The execution, delivery and
         performance of this Confirmation Amendment by DETM has been duly
         authorized, no further action is necessary on the part of DETM and no
         consents or other approvals are required to be obtained in connection
         therewith. The execution and delivery of this Confirmation Amendment
         does not contravene, or constitute a default under, any provision of
         applicable law or regulation or its organizational documents or any
         material agreement, judgment, injunction, order, decree or other
         instrument binding upon it or result in any creation or imposition of
         any lien on any of its assets. This Confirmation Amendment has been
         duly and validly executed and delivered by DETM and, assuming the due
         execution and delivery by the other party hereto, constitutes a valid
         and binding obligation of DETM, enforceable against it in accordance
         with its terms subject to applicable bankruptcy, reorganization,
         insolvency, receivership or other similar laws affecting creditors'
         rights generally and equitable principles of general application
         (regardless of whether enforcement is sought in a proceeding in equity
         or at law).

6.   Defaults.

      (a)   Events of Default. In addition to the Events of Default under the
         WSPP Agreement, the occurrence of any one or more of the following
         events shall also constitute an Event of Default by Nevada Power under
         all Confirmation Agreements between Nevada Power and DETM until such
         time as the Delay Amount is fully repaid and all energy and gas have
         been delivered and paid for under the Covered Short Positions (with
         respect to subsections (i) through (vi) below) and until such time as
         the Delay Amount is fully repaid (with respect to subsections (v) and
         (vi) below):

            (i)   If Nevada Power fails to pay or prepay when due any amount
                  under this Confirmation Amendment, including, without
                  limitation, any Delay Period Payment, the Delay Amount, any
                  Mandatory Prepayment of the Delay Amount, any interest
                  thereon, or any prepayment for energy under a New Confirmation
                  Agreement.

            (ii)  Nevada Power defaults in any other of its obligations under
                  this Confirmation Amendment and any such default continues for
                  five (5) days.

            (iii) A default, event of default or other similar event or
                  condition of Nevada Power with respect to any indebtedness for
                  borrowed money which results in such indebtedness becoming
                  immediately due and payable has occurred and is continuing.

            (iv)  A default, event of default or other similar event or
                  condition of Nevada Power with respect to any other agreement
                  between Nevada Power and DETM or any of its affiliates has
                  occurred and is continuing, including,
<PAGE>
                  without limitation, under the Marketing Services Agreement or
                  the Master Gas Agreement.

            (v)   Nevada Power enters into any agreement with or makes any
                  payment to any supplier of energy to Nevada Power that has
                  terminated or subsequent to the date of this Agreement
                  terminates its contract with Nevada Power (a "Terminated
                  Supplier") which provides for any payment to or any collateral
                  for the Terminated Supplier other than interest on any
                  termination or settlement payment owed to such Terminated
                  Supplier at a per annum rate no greater that **** and no more
                  frequently than as interest is paid on the Delay Amount.

            (vi)  Sierra Pacific uses any amounts received by it from Nevada
                  Power to make any dividends or other payment on account of its
                  common stock or executes any amendment to any agreement to
                  which it is a party if such amendment would alter any payment
                  obligation of it, unless such alteration would be to its
                  benefit and not increase its cash payment obligations to such
                  party from and after the date of this Agreement through the
                  calendar year 2003.

      (b)   Notice of Default. Nevada Power shall notify DETM in writing
         promptly of the occurrence of any Event of Default by it.

      (c)   Remedies. In addition to the rights and remedies upon an Event of
         Default set forth in the WSPP Agreement and in any Confirmation
         Agreement and at law and in equity, upon the occurrence of an Event of
         Default of Nevada Power, (i) the Delay Amount, together with all unpaid
         interest and all other amounts payable hereunder, shall automatically
         become due and payable forthwith, without presentment, demand, notice,
         protest or other requirement of any kind, all of which are expressly
         waived by Nevada Power and (ii) DETM may exercise any and all rights
         and remedies available to it under applicable law, including the right
         to collect from Nevada Power all sums due under the Existing
         Confirmation Agreements. Upon the occurrence of an Event of Default,
         the non-defaulting party may, without prior notice and in addition to
         and not in limitation of its other rights and remedies, setoff
         (including, without limitation, by setoff, offset, combination of
         accounts, deduction, counterclaim, retention or withholding across or
         within each or all agreements) any and all sums or obligations (whether
         arising under this Confirmation Amendment, the Confirmation Agreements
         or any other agreement and whether matured or unmatured) owed or
         otherwise accrued by the defaulting party to the non-defaulting party
         or any of its affiliates against any sums or obligations owed or
         otherwise accrued by the non-defaulting party or any of its affiliates
         to the defaulting party. Nevada Power shall pay all reasonable costs
         and expenses of collection incurred by or on behalf of the DETM as a
         result of an Event of Default, including reasonable attorney's fees. In
         the event either of the parties hereto becomes entitled to receive or
         does receive any Termination Payment pursuant to Section 22.3 of the
         WSPP Agreement, then the Delay Amount shall be reduced by the portion
         thereof attributable to any energy

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
         deliveries that are scheduled to be made pursuant to each Existing
         Confirmation Agreement during the Delay Period by such party but which
         are not made.

7.   Miscellaneous.

      (a)   Limitation on Waiver. The rights and remedies of DETM under this
         Confirmation Amendment shall be cumulative and not alternative. No
         waiver by DETM of any right or remedy under this Confirmation Amendment
         shall be effective unless in a writing signed by DETM. No failure to
         exercise, delay in exercising, or single or partial exercise of any
         right or remedy by DETM, and no course of dealing between DETM on the
         one hand and Nevada Power on the other hand, shall constitute a waiver
         of, or shall preclude any other or further exercise of the same right
         or remedy.

      (b)   Confirmation Amendment. This Confirmation Amendment may be amended,
         modified or supplemented only in writing, signed by each of the parties
         hereto.

      (c)   Notices. Notices given under this Confirmation Amendment, including
         any notice of a change of address, shall be addressed as provided under
         the applicable Confirmation Agreement and to the additional addressees:

            (i)   if to Nevada Power, to William E. Peterson, Sr. V.P. & General
                  Counsel, 6100 Neil Road, P.O. Box 10100, Reno, NV 89520-0024,
                  Fax: (775)834-5959, email: wpeterson@sierrapacific.com; and

            (ii)  if to DETM, to Duke Energy Marketing and Trading, L.L.C. to
                  JoAnn Russell, General Counsel, 5400 Westheimer Court,
                  Houston, TX 77056-5310, Fax: (713) 627-5122, email:
                  jprussell@duke-energy.com.

      (d)   Severability. If any term, provision, covenant or restriction
         of this Confirmation Amendment is held by a court of competent
         jurisdiction to be invalid, illegal, void or unenforceable, the
         remainder of the terms, provisions, covenants and restrictions set
         forth herein shall remain in full force and effect and shall in no way
         be affected, impaired or invalidated, and the parties hereto shall use
         their best efforts to find and employ an alternative means to achieve
         the same or substantially the same result as that contemplated by such
         term, provision, covenant or restriction. It is the intention of the
         parties that they would have executed the remaining terms, provisions,
         covenants and restrictions without including any of such that may be
         hereafter declared invalid, illegal, void or unenforceable.

      (e)   Governing Law. This Confirmation Amendment shall be governed
         by and construed in accordance with the laws of the State of Utah,
         without regard to the conflicts of laws rules thereof.

      (f)   Assignment. Nevada Power may not assign or transfer this
         Confirmation Amendment or the obligations owing thereunder without the
         prior written consent of DETM in its sole discretion. DETM may assign
         or transfer this Confirmation
<PAGE>
         Amendment or any obligations owing thereunder to any affiliate so long
         as such entity has a credit status which, in Nevada Power's reasonable
         opinion, is at least as high as that of DETM.

      (g)   Parties Bound. This Confirmation Amendment shall bind Nevada
         Power and DETM and their respective successors and assigns. The
         Existing Confirmation Agreements and all transactions thereunder, as
         amended hereby, are hereby reaffirmed by each of Nevada Power and DETM
         and remain in full force and effect.

      (h)   Section Headings. The headings in this Confirmation Amendment
         are for convenience of reference only and shall not limit or otherwise
         affect the meaning hereof.

      (i)   References. All words used in this Confirmation Amendment
         shall be construed to be of such number and gender as the context
         requires or permits. Unless a particular context clearly provides
         otherwise, the words "hereof" and "hereunder" and similar references
         refer to this Confirmation Amendment in its entirety and not to any
         specific section or subsection hereof.

      (j)   Definitions. All capitalized terms not defined herein shall
         have the meaning ascribed to them in the WSPP Agreement.

      (k)   Counterparts. This Confirmation Amendment may be executed in
         counterparts, and upon execution by all the parties, each counterpart
         shall have the same force and effect as if all parties signed the same
         instrument.

                            [signature page follows]
<PAGE>
         IN WITNESS WHEREOF, the parties have executed this Confirmation
Amendment as of the date first stated above.

                                    NEVADA POWER COMPANY

                                    By:____________________________
                                    Name:__________________________
                                    Title:

                                    DUKE ENERGY TRADING AND MARKETING, L.L.C.

                                    By:____________________________
                                    Name:
                                    Title:
<PAGE>
                                   SCHEDULE A
                        EXISTING CONFIRMATION AGREEMENTS

                                     [***]

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.

<PAGE>
                                   SCHEDULE B
                        ADJUSTED NET CASH PAYMENT PRICES

                                     [***]

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
                                   SCHEDULE C
                             COVERED SHORT POSITIONS

                                 (see attached)

<PAGE>
[DUKE ENERGY LOGO]                                                  [MOBIL LOGO]

                             CONFIRMATION AGREEMENT

<TABLE>
<S>           <C>                                                 <C>               <C>
SELLER:       Duke Energy Trading and Marketing, L.L.C.           BUYER:            Nevada Power Company
              4 Triad Center, Suite 1000                                            P.O. Box 230
              Salt Lake City, UT  84180                                             Las Vegas, NV 89151-0230

Attn:         Scott Krantz                                        Attn:             Mike Smart
Phone:        (801) 531-5467                                      Phone:            (702) 367-5880
Fax:          (801) 531-5490                                      Fax:              (702) 367-5869
</TABLE>

This letter shall confirm transactions arranged on June 4, 2002 between Duke
Energy Trading and Marketing, L.L.C. (DETM) and Nevada Power Company (NPC). The
terms and conditions of this transaction are as follows:

DETM to sell and deliver and NPC to purchase and receive power under five (5)
simultaneous block transactions covered by this confirmation under the details
and terms contained herein.

BLOCK #1

DELIVERY RATE:                 175 Megawatts Per Hour

CONTRACT QUANTITY:             36,400 Total Megawatt Hours

DELIVERY TERM:                 June 15, 2002 - June 30, 2002

CONTRACT SCHEDULE:             Monday - Saturday

                               HE 07:00 - HE 22:00 PPT
                               Excluding NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
BLOCK #2                       terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

DELIVERY RATE:                 300 Megawatts Per Hour

CONTRACT QUANTITY:             76,800 Total Megawatt Hours

DELIVERY TERM:                 June 15, 2002 - June 30, 2002

CONTRACT SCHEDULE:             Monday - Sunday

                               HE 07:00 - HE 22:00 PPT
                               All Days, Including NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #3

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             56,000 Total Megawatt Hours

DELIVERY TERM:                 June 15, 2002 - June 30, 2002

CONTRACT SCHEDULE:             Monday - Sunday
                               HE 11:00 - HE 20:00 PPT
                               All Days, Including NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #4

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             16,800 Total Megawatt Hours

DELIVERY TERM:                 June 15, 2002 - June 30, 2002

CONTRACT SCHEDULE:             Sundays and NERC Holidays only.
                               HE 08:00 - HE 23:00 PPT

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
BLOCK #5

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             16,800 Total Megawatt Hours

DELIVERY TERM:                 June 15, 2002 - June 30, 2002

CONTRACT SCHEDULE:             Sundays and NERC Holidays only.
                               HE 09:00 - HE 24:00 PPT

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

SPECIAL TERMS &
CONDITIONS:

This Confirmation Agreement is being provided pursuant to, in accordance with
and is subject to the Western System Power Pool Agreement ("Agreement") as may
be amended from time to time and as supplemented and modified herein, and that
certain Master Amendment to Confirmation Agreements by and between Buyer and
Seller, dated June 4, 2002, and constitutes part of and is subject to all of the
terms and provisions of such Agreements. Terms used but not defined herein shall
have the meanings ascribed to them in the Agreements.

In the event of a conflict between this Confirmation Agreement and the WSPP
Agreement, this Confirmation Agreement shall govern.

Please confirm that the terms and conditions stated herein accurately reflect
your understanding of our agreement by signing and returning by facsimile to
Duke Energy Trading and Marketing, L.L.C. at (801) 531-5490.

By:

    ___________________________________________        Date: ___________________
      Duke Energy Trading and Marketing, L.L.C.
By:

    ___________________________________________        Date: ___________________
      Nevada Power Company

If the description contained in this Confirmation Agreement is contrary to your
understanding of the agreement, please notify DETM via telecopy by the close of
the fifth business day following your receipt of this Confirmation Agreement.
Your failure to notify DETM of any such contrary understanding by such time
constitutes your confirmation of the transaction as described above.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
[DUKE ENERGY LOGO]                                                  [MOBIL LOGO]

                             CONFIRMATION AGREEMENT

<TABLE>
<S>           <C>                                                 <C>               <C>
SELLER:       Duke Energy Trading and Marketing, L.L.C.           BUYER:            Nevada Power Company
              4 Triad Center, Suite 1000                                            P.O. Box 230
              Salt Lake City, UT  84180                                             Las Vegas, NV 89151-0230

Attn:         Scott Krantz                                        Attn:             Mike Smart
Phone:        (801) 531-5467                                      Phone:            (702) 367-5880
Fax:          (801) 531-5490                                      Fax:              (702) 367-5869
</TABLE>

This letter shall confirm transactions arranged on June 4, 2002 between Duke
Energy Trading and Marketing, L.L.C. (DETM) and Nevada Power Company (NPC). The
terms and conditions of this transaction are as follows:

DETM to sell and deliver and NPC to purchase and receive power under five (5)
simultaneous block transactions covered by this confirmation under the details
and terms contained herein.

BLOCK #1

DELIVERY RATE:                 250 Megawatts Per Hour

CONTRACT QUANTITY:             104,000 Total Megawatt Hours

DELIVERY TERM:                 July 1, 2002 - July 31, 2002

CONTRACT SCHEDULE:             Monday - Saturday
                               HE 07:00 - HE 22:00 PPT
                               Excluding NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #2

DELIVERY RATE:                 300 Megawatts Per Hour

CONTRACT QUANTITY:             148,800 Total Megawatt Hours

DELIVERY TERM:                 July 1, 2002 - July 31, 2002

CONTRACT SCHEDULE:             Monday - Sunday
                               HE 07:00 - HE 22:00 PPT
                               All Days, Including NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #3

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             108,500 Total Megawatt Hours

DELIVERY TERM:                 July 1, 2002 - July 31, 2002

CONTRACT SCHEDULE:             Monday - Sunday
                               HE 11:00 - HE 20:00 PPT
                               All Days, Including NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #4

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             28,000 Total Megawatt Hours

DELIVERY TERM:                 July 1, 2002 - July 31, 2002

CONTRACT SCHEDULE:             Sundays and NERC Holidays only.
                               HE 08:00 - HE 23:00 PPT

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #5

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             28,000 Total Megawatt Hours

DELIVERY TERM:                 July 1, 2002 - July 31, 2002

CONTRACT SCHEDULE:             Sundays and NERC Holidays only.
                               HE 09:00 - HE 24:00 PPT

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

SPECIAL TERMS &
CONDITIONS:

This Confirmation Agreement is being provided pursuant to, in accordance with
and is subject to the Western System Power Pool Agreement ("Agreement") as may
be amended from time to time and as supplemented and modified herein, and that
certain Master Amendment to Confirmation Agreements by and between Buyer and
Seller, dated June 4, 2002, and constitutes part of and is subject to all of the
terms and provisions of such Agreements. Terms used but not defined herein shall
have the meanings ascribed to them in the Agreements.

In the event of a conflict between this Confirmation Agreement and the WSPP
Agreement, this Confirmation Agreement shall govern.

Please confirm that the terms and conditions stated herein accurately reflect
your understanding of our agreement by signing and returning by facsimile to
Duke Energy Trading and Marketing, L.L.C. at (801) 531-5490.

By:

    ___________________________________________        Date: ___________________
      Duke Energy Trading and Marketing, L.L.C.
By:

    ___________________________________________        Date: ___________________
      Nevada Power Company

If the description contained in this Confirmation Agreement is contrary to your
understanding of the agreement, please notify DETM via telecopy by the close of
the fifth business day following your receipt of this Confirmation Agreement.
Your failure to notify DETM of any such contrary understanding by such time
constitutes your confirmation of the transaction as described above.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
[DUKE ENERGY LOGO]                                                  [MOBIL LOGO]

                             CONFIRMATION AGREEMENT

<TABLE>
<S>           <C>                                                 <C>               <C>
SELLER:       Duke Energy Trading and Marketing, L.L.C.           BUYER:            Nevada Power Company
              4 Triad Center, Suite 1000                                            P.O. Box 230
              Salt Lake City, UT  84180                                             Las Vegas, NV 89151-0230

Attn:         Scott Krantz                                        Attn:             Mike Smart
Phone:        (801) 531-5467                                      Phone:            (702) 367-5880
Fax:          (801) 531-5490                                      Fax:              (702) 367-5869
</TABLE>

This letter shall confirm transactions arranged on June 4, 2002 between Duke
Energy Trading and Marketing, L.L.C. (DETM) and Nevada Power Company (NPC). The
terms and conditions of this transaction are as follows:

DETM to sell and deliver and NPC to purchase and receive power under five (5)
simultaneous block transactions covered by this confirmation under the details
and terms contained herein.

BLOCK #1

DELIVERY RATE:                 250 Megawatts Per Hour

CONTRACT QUANTITY:             108,000 Total Megawatt Hours

DELIVERY TERM:                 August 1, 2002 - August 31, 2002

CONTRACT SCHEDULE:             Monday - Saturday
                               HE 07:00 - HE 22:00 PPT
                               Excluding NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #2

DELIVERY RATE:                  300 Megawatts Per Hour

CONTRACT QUANTITY:              148,800 Total Megawatt Hours

DELIVERY TERM:                 August 1, 2002 - August 31, 2002

CONTRACT SCHEDULE:             Monday - Sunday
                               HE 07:00 - HE 22:00 PPT
                               All Days, Including NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #3

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             108,500 Total Megawatt Hours

DELIVERY TERM:                 August 1, 2002 - August 31, 2002

CONTRACT SCHEDULE:             Monday - Sunday
                               HE 11:00 - HE 20:00 PPT
                               All Days, Including NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #4

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             22,400 Total Megawatt Hours

DELIVERY TERM:                 August 1, 2002 - August 31, 2002

CONTRACT SCHEDULE:             Sundays and NERC Holidays only.
                               HE 08:00 - HE 23:00 PPT

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #5

DELIVERY RATE:                 350 Megawatts Per Hour

CONTRACT QUANTITY:             22,400 Total Megawatt Hours

DELIVERY TERM:                 August 1, 2002 - August 31, 2002

CONTRACT SCHEDULE:             Sundays and NERC Holidays only.
                               HE 09:00 - HE 24:00 PPT

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

SPECIAL TERMS &
CONDITIONS:

This Confirmation Agreement is being provided pursuant to, in accordance with
and is subject to the Western System Power Pool Agreement ("Agreement") as may
be amended from time to time and as supplemented and modified herein, and that
certain Master Amendment to Confirmation Agreements by and between Buyer and
Seller, dated June 4, 2002, and constitutes part of and is subject to all of the
terms and provisions of such Agreements. Terms used but not defined herein shall
have the meanings ascribed to them in the Agreements.

In the event of a conflict between this Confirmation Agreement and the WSPP
Agreement, this Confirmation Agreement shall govern.

Please confirm that the terms and conditions stated herein accurately reflect
your understanding of our agreement by signing and returning by facsimile to
Duke Energy Trading and Marketing, L.L.C. at (801) 531-5490.

By:

    ___________________________________________        Date: ___________________
      Duke Energy Trading and Marketing, L.L.C.
By:

    ___________________________________________        Date: ___________________
      Nevada Power Company

If the description contained in this Confirmation Agreement is contrary to your
understanding of the agreement, please notify DETM via telecopy by the close of
the fifth business day following your receipt of this Confirmation Agreement.
Your failure to notify DETM of any such contrary understanding by such time
constitutes your confirmation of the transaction as described above.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
[DUKE ENERGY LOGO]                                                  [MOBIL LOGO]

                             CONFIRMATION AGREEMENT

<TABLE>
<S>           <C>                                                 <C>               <C>
SELLER:       Duke Energy Trading and Marketing, L.L.C.           BUYER:            Nevada Power Company
              4 Triad Center, Suite 1000                                            P.O. Box 230
              Salt Lake City, UT  84180                                             Las Vegas, NV 89151-0230

Attn:         Scott Krantz                                        Attn:             Mike Smart
Phone:        (801) 531-5467                                      Phone:            (702) 367-5880
Fax:          (801) 531-5490                                      Fax:              (702) 367-5869
</TABLE>

This letter shall confirm transactions arranged on June 4, 2002 between Duke
Energy Trading and Marketing, L.L.C. (DETM) and Nevada Power Company (NPC). The
terms and conditions of this transaction are as follows:

DETM to sell and deliver and NPC to purchase and receive power under four (4)
simultaneous block transactions covered by this confirmation under the details
and terms contained herein.

BLOCK #1

DELIVERY RATE:                 250 Megawatts Per Hour

CONTRACT QUANTITY:             96,000 Total Megawatt Hours

DELIVERY TERM:                 September 1, 2002 - September 30, 2002

CONTRACT SCHEDULE:             Monday - Saturday
                               HE 07:00 - HE 22:00 PPT
                               Excluding NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #2

DELIVERY RATE:                 150 Megawatts Per Hour

CONTRACT QUANTITY:             45,000 Total Megawatt Hours

DELIVERY TERM:                 September 1, 2002 - September 30, 2002

CONTRACT SCHEDULE:             Monday - Sunday
                               HE 11:00 - HE 20:00 PPT
                               All Days, Including NERC Holidays

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #3

DELIVERY RATE:                 250 Megawatts Per Hour

CONTRACT QUANTITY:             24,000 Total Megawatt Hours

DELIVERY TERM:                 September 1, 2002 - September 30, 2002

CONTRACT SCHEDULE:             Sundays and NERC Holidays only.
                               HE 08:00 - HE 23:00 PPT

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

BLOCK #4

DELIVERY RATE:                 250 Megawatts Per Hour

CONTRACT QUANTITY:             24,000 Total Megawatt Hours

DELIVERY TERM:                 September 1, 2002 - September 30, 2002

CONTRACT SCHEDULE:             Sundays and NERC Holidays only.
                               HE 09:00 - HE 24:00 PPT

PRICE:                         $**********

DELIVERY POINT:                ****

SCHEDULING:                    Duke Energy Trading and Marketing L.L.C. 24-Hour
                               Dispatch: (801) 531-5130. Preschedules and
                               control area information will be confirmed by
                               DETM and NPC by 12:00pm PPT on the appropriate
                               scheduling day prior to the day of delivery.

TYPE OF SERVICE:               ****

PAYMENT TERMS:                 Payment shall be made according to the payment
                               terms set forth in Section 4 of that certain
                               Master Amendment to Confirmation Agreements by
                               and between NPC and DETM, dated June 4, 2002.

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
SPECIAL TERMS &
CONDITIONS:

This Confirmation Agreement is being provided pursuant to, in accordance with
and is subject to the Western System Power Pool Agreement ("Agreement") as may
be amended from time to time and as supplemented and modified herein, and that
certain Master Amendment to Confirmation Agreements by and between Buyer and
Seller, dated June 4, 2002, and constitutes part of and is subject to all of the
terms and provisions of such Agreements. Terms used but not defined herein shall
have the meanings ascribed to them in the Agreements.

In the event of a conflict between this Confirmation Agreement and the WSPP
Agreement, this Confirmation Agreement shall govern.

Please confirm that the terms and conditions stated herein accurately reflect
your understanding of our agreement by signing and returning by facsimile to
Duke Energy Trading and Marketing, L.L.C. at (801) 531-5490.

By:

    ___________________________________________        Date: ___________________
      Duke Energy Trading and Marketing, L.L.C.
By:

    ___________________________________________        Date: ___________________
      Nevada Power Company

If the description contained in this Confirmation Agreement is contrary to your
understanding of the agreement, please notify DETM via telecopy by the close of
the fifth business day following your receipt of this Confirmation Agreement.
Your failure to notify DETM of any such contrary understanding by such time
constitutes your confirmation of the transaction as described above.

<PAGE>
                                   SCHEDULE D
                              CERTAIN TRANSACTIONS

                                 (see attached)
<PAGE>

                                 ATTACHMENT "A"

                                     to the

                      NATURAL GAS SALES/PURCHASE AGREEMENT

                               Dated: July 1, 1996

                           DETM Agreement No. GSA 176

Seller                                          Buyer
------                                          -----
DUKE ENERGY TRADING AND MARKETING, L.L.C.       NEVADA POWER COMPANY
4 Triad Center, Suite 1000                      6100 Neil Road
Salt Lake City, UT  84180                       Reno, NV  89520
Representative:  Steve Bateson                  Representative: Mike Smart
Fax Number:  (801) 531-5490                     Fax Number:  (702) 367-5869

EXHIBIT DATE:           June 4, 2002

TERM:                   June 15, 2002 (8:00 a.m. MST) through October 1, 2002
                        (7:59 a.m. MST)

SERVICE LEVEL:          Firm Obligation

PRICE:                  From June 15, 2002 (8:00 a.m. MST) through July 1, 2002
                        (7:59 a.m. MST), the Price shall be **** per MMBtu.

                        From July 1, 2002 (8:00 a.m. MST) through August 1, 2002
                        (7:59 a.m. MST), the Price shall be **** per MMBtu.

                        From August 1, 2002 (8:00 a.m. MST) through September 1,
                        2002 (7:59 a.m. MST), the Price shall be **** per
                        MMBtu.

                        From September 1, 2002 (8:00 a.m. MST) through October
                        1, 2002 (7:59 a.m. MST), the Price shall be **** per
                        MMBtu.

QUANTITY:               From June 15, 2002 (8:00 a.m. MST) through July 1, 2002
                        (7:59 a.m. MST), the Quantity shall be ***** MMBtu per
                        day.

                        From July 1, 2002 (8:00 a.m. MST) through October 1,
                        2002 (7:59 a.m. MST), the Quantity shall be ***** MMBtu
                        per day.

POINT(S) OF DELIVERY:   *****

CONFIRMATION
PROVISION:              Notwithstanding any provision to the contrary in the
                        above-referenced Natural Gas Sales/Purchase Agreement
                        dated July 1, 1996, Nevada Power Company (NPC) and Duke
                        Energy Trading and Marketing, L.L.C. (DETM) agree that
                        DETM

CONFIDENTIAL MATERIAL OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. ASTERISKS (***) DENOTE SUCH OMISSIONS.
<PAGE>
                        shall provide the Attachment "A" for this transaction.

PAYMENT PROVISION:      Payment shall be made according to the payment terms set
                        forth in Section 4 of that certain Master Amendment to
                        Confirmation Agreements by and between DETM and NPC,
                        dated June 4, 2002.

CONFLICT:               In the event of a conflict between the above-referenced
                        Natural Gas Sales/Purchase Agreement dated July 1, 1996
                        and this Attachment "A," this Attachment "A" shall
                        govern.

THIS ATTACHMENT "A" IS BEING PROVIDED PURSUANT TO, IN ACCORDANCE WITH, AND IS
SUBJECT TO THE ABOVE-REFERENCED NATURAL GAS SALES/PURCHASE AGREEMENT DATED JULY
1, 1996 AS MAY BE AMENDED FROM TIME TO TIME AND AS SUPPLEMENTED AND MODIFIED
HEREIN, AND THAT CERTAIN MASTER AMENDMENT TO CONFIRMATION AGREEMENTS BY AND
BETWEEN DETM AND NPC, DATED JUNE 4, 2002.

IF THE DESCRIPTION CONTAINED IN THIS EXHIBIT "A" IS CONTRARY TO YOUR
UNDERSTANDING OF THE AGREEMENT, PLEASE NOTIFY DETM VIA TELECOPY BY THE CLOSE OF
THE SECOND BUSINESS DAY FOLLOWING YOUR RECEIPT OF THIS EXHIBIT "A." YOUR FAILURE
TO NOTIFY DETM OF ANY SUCH CONTRARY UNDERSTANDING BY SUCH TIME CONSTITUTES YOUR
CONFIRMATION OF THE TRANSACTION AS DESCRIBED ABOVE.

ACCEPTED and AGREED to:

Seller                                          Buyer

DUKE ENERGY TRADING AND MARKETING, L.L.C. NEVADA POWER COMPANY

By:   _______________________________     By:   ______________________________

Date: _______________________________     Date: ______________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}]]