Opinion ID: 2631746
Heading Depth: 1
Heading Rank: 15

Heading: The PUCN's findings for 1999-2000

Text: The PUCN found that the status of deregulation from 1999 through the middle of 2000 made it difficult to label Nevada Power's actions imprudent during that period: [Nevada Power] made a reasonable argument that uncertainty about future load requirements impeded [its] timely acquisition of power, despite the fact that [its] `Timed Procurement Strategy' hardly rose to the level of a strategy. The PUCN acknowledged that Nevada Power had made some colossal management mistakes. However, the PUCN stressed that, given the market circumstances at the time, Nevada Power's actions in 1999-2000, with the exception of the Merrill Lynch contract, did not rise to the level of imprudence. Thus, with the exception of the Merrill Lynch failed negotiations, the PUCN found prudent all practices and transactions from 1999 through the middle of 2000.