UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

May 24 31, ~~2016 (May 18, 2016)~~2022

Date of Report (Date of earliest event reported)

Commission

Exact name of registrant as specified in its charter;

IRS Employer

Exact name of registrant as specified in its charter

File Number

State or other jurisdiction of incorporation or organization

Identification No.

State or other jurisdiction of incorporation or organization

000-00508

SIERRA PACIFIC POWER COMPANY

88-0044418

Commission

Address of principal executive offices

IRS Employer

(A Nevada Corporation)

File Number

Registrant's telephone number, including area code

Identification No.

6100 Neil Road

000-52378

NEVADA POWER COMPANY

88-0420104

Reno, Nevada 89511

(A Nevada Corporation)

775-834-4011

6226 West Sahara Avenue

N/A

Las Vegas, Nevada 89146

(Former name, former address and former fiscal year, if changed since last report)

702-402-5000

000-00508

SIERRA PACIFIC POWER COMPANY

88-0044418

(A Nevada Corporation)

6100 Neil Road

Reno, Nevada 89511

775-834-4011

N/A

(Former name or former address, if changed from last report)

~~Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:~~______________________________________________________________________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrants under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant


Registrant			Securities registered pursuant to Section 12(b) of the Act:
NEVADA POWER COMPANY			None
SIERRA PACIFIC POWER COMPANY			None

~~Series~~Indicate ~~2016CDE~~by ~~Bonds~~check mark whether the registrants are an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

OnEmerging ~~May~~growth 18, 2016, Sierra Pacific Power Company (the “Company”), a wholly-owned subsidiary of NV Energy, Inc., an indirect wholly-owned subsidiary of Berkshire Hathaway Energy Company, entered into a Financing Agreement, dated as of May 1, 2016, by and between Washoe County, Nevada (the "Washoe Issuer") and the Company (the "Series 2016CDE Financing Agreement") whereby the Washoe Issuer loaned to the Company the proceeds from the issuance, on behalf of the Company, of $30,000,000 of its Water Facilities Refunding Revenue Bonds, Series 2016C, due 2036 (the “Series C Bonds”), $25,000,000 of its Water Facilities Refunding Revenue Bonds, Series 2016D, due 2036 (the “Series D Bonds”) and $25,000,000 of its Water Facilities Refunding Revenue Bonds, Series 2016E, due 2036 (the “Series E Bonds”) (collectively the "Series 2016CDE Bonds") pursuant to an Indenture of Trust dated as of May 1, 2016 between the Washoe Issuer and The Bank of New York Mellon Trust Company, N.A., as Trustee (the "Series 2016CDE Indenture"). Under the Series 2016CDE Financing Agreement, the Company will pay the principal (or redemption price) and the interest and premium, if any, coming due on the Series 2016CDE Bonds. The Series 2016CDE Bonds will initially bear interest at a weekly rate which will be calculated on a weekly basis and be payable on the first business day of each month, commencing June 1, 2016. The interest rate mode on the Series 2016CDE Bonds may be adjusted from time to time as described in the Series 2016CDE Indenture.company o

~~The~~If ~~proceeds~~an ~~from~~emerging ~~the~~growth ~~Series~~company, ~~2016CDE~~indicate ~~Bonds~~by ~~were~~check ~~used~~mark toif ~~refund $40,000,000 of~~ the ~~Washoe~~registrants ~~Issuer’s~~have ~~Water~~elected ~~Facilities~~not ~~Refunding~~to ~~Revenue~~use ~~Bonds, Series 2007A, and $40,000,000 of~~ the ~~Washoe~~extended ~~Issuer’s~~transition ~~Water~~period ~~Facilities~~for ~~Refunding~~complying ~~Revenue~~with ~~Bonds~~any ~~Series~~new ~~2007B,~~or ~~each~~revised ~~previously~~financial ~~issued~~accounting bystandards ~~the~~provided ~~Washoe~~pursuant ~~Issuer~~to onSection ~~behalf~~13(a) of the ~~Company~~Exchange Act. o

~~The~~Item ~~Company issued its General and Refunding Mortgage Notes, Series V, No~~2.03 ~~V-1~~Creation ~~in the amount~~ of ~~$80,000,000~~a ~~(the~~Direct ~~“Series~~Financial ~~V-1~~Obligation ~~Notes”)~~or ~~pursuant~~an toObligation the General and Refunding Mortgage Indenture, dated as of May 1, 2001, as amended and supplemented to the date hereof, between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the ‘‘G&R Indenture’’), to provide collateral security for its obligations under ~~the~~an ~~Series~~Off-Balance ~~2016CDE~~Sheet ~~Financing~~Arrangement ~~Agreement. The obligations~~ of the Company to make any payment of the principal and interest on any Series V-1 Notes shall be fully or partially, as the case may be, deemed to have been paid or otherwise satisfied and discharged to the extent that the Company has made a ~~payment (or otherwise funded a payment) as provided in the Series 2016CDE Financing Agreement, in respect of the principal and interest of the Series 2016CDE Bonds~~Registrant.

~~The~~On ~~foregoing~~May 31, ~~discussion~~2022, ofSierra ~~the~~Pacific ~~Series~~Power ~~2016CDE~~Company ~~Financing~~(the ~~Agreement~~"Company") ~~and~~completed the ~~Series~~sale ~~V-1~~of ~~Notes~~$250 ismillion ~~qualified~~ in aggregate principal amount of its ~~entirety~~4.71% byGeneral ~~reference~~and toRefunding ~~the~~Mortgage Bonds, Series ~~2016CDE~~W, ~~Financing~~due 2052 (the "Bonds") pursuant to a Bond Purchase Agreement ~~and~~dated ~~the~~May 31, ~~Officer's~~2022. ~~Certificate~~The ~~establishing~~Company ~~the~~will ~~terms~~pay interest semi-annually in arrears on June 15 and December 15 of ~~the~~each ~~Series~~year, ~~V-1~~beginning ~~Notes~~on December 15, 2022. The sale was exempt from the registration requirements under the ~~G&R~~Securities ~~Indenture,~~Act of ~~which~~1933, aas ~~copy~~amended. ofThe ~~each~~Company isintends ~~attached~~to ~~hereto~~use asthe ~~Exhibit~~net ~~4.1~~proceeds ~~and~~for ~~Exhibit~~general ~~4.4,~~corporate ~~respectively~~purposes, ~~and~~including ~~incorporated~~refinancing ~~into~~existing ~~this~~indebtedness ~~Item~~and ~~2.03~~funding bycapital ~~reference~~expenditures.

~~Series~~Prior ~~2016ABFG~~to December 15, 2051 (the "Par Call Date"), the Company may, at its option, upon notice (as defined in the Officer's Certificate), prepay any part of the Bonds in an amount not less than 10% of the aggregate principal amount of the Bonds then outstanding in the case of partial prepayment, at 100% of the principal amount so prepaid, and the Make-Whole Amount (as defined in the Officer's Certificate) determined for the prepayment date with respect to such principal amount.

On ~~May~~or ~~24,~~after ~~2016,~~ the ~~Company~~Par ~~entered~~Call ~~into a Financing Agreement~~Date, ~~dated as of May 1, 2016, by and between~~ the ~~Washoe Issuer and the~~ Company ~~(the~~may ~~"Series~~redeem ~~2016ABFG Financing Agreement") whereby~~ the ~~Washoe Issuer loaned to the Company the proceeds from the issuance, on behalf of the Company, of $58,700,000 of its Gas Facilities Refunding Revenue~~ Bonds, ~~Series~~in ~~2016A,~~whole ~~due~~at ~~2031~~any ~~(the~~time ~~“Series~~or Ain ~~Bonds”),~~part ~~$60,230,000~~from oftime its Gas and Water Facilities Refunding Revenue Bonds, Series 2016B, due 2036 (the “Series B Bonds”), $75,000,000 of its Water Facilities Refunding Revenue Bonds, Series 2016F, due 2036 (the “Series F Bonds”) and $20,000,000 of its Water Facilities Refunding Revenue Bonds, Series 2016G, due 2036 (the “Series G Bonds”) (collectively, the "Series 2016ABFG Bonds") pursuant to ~~an Indenture of Trust dated as of May 1~~time, ~~2016 between the Washoe Issuer and The Bank of New York Mellon Trust Company, N.A., as Trustee (the "Series 2016ABFG Indenture"). The Series B Bonds were issued~~ at a ~~premium~~redemption ofprice ~~approximately~~equal ~~$4,570,000~~ to ~~the~~100% ~~$60,230,000~~of ~~par amount. Under~~ the ~~Series 2016ABFG Financing Agreement, the Company will pay the~~ principal ~~(or~~amount ~~redemption~~of ~~price) and~~ the ~~interest and premium, if any, coming due on the Series 2016ABFG~~ Bonds. ~~The~~being ~~Series A Bonds and Series B Bonds will initially bear interest at a term rate of 1.50% and 3.00%~~redeemed, ~~respectively,~~plus ~~which~~accrued ~~will be payable on June 1~~ and ~~December~~unpaid 1 each year, commencing December 1, 2016. The Series A Bonds and Series B Bonds are subject to mandatory purchase by the Company on June 3, 2019 and June 1, 2022, respectively, and on and after the respective purchase date, the interest ~~rate~~thereon ~~mode on the Series A Bonds and Series B Bonds may be adjusted from time~~ to time as described in the Series 2016ABFG Indenture. The Series F Bonds and the Series G Bonds will initially bear interest at a weekly rate which will be calculated on a weekly basis and be payable on the first business day of each month, ~~commencing~~but ~~June 1~~excluding, ~~2016. The Company purchased~~ the ~~Series F Bonds and the Series G Bonds on their~~ date of ~~issuance to hold for the Company's own account and potential remarketing to the public at a future date~~redemption.

The Bonds were issued pursuant to a Third Supplemental Indenture, by and between the Company and the Bank of New York Mellon Trust Company, N.A., as Trustee (the "Trustee"), dated May 31, 2022 (the "Third Supplemental Indenture"). The Third Supplemental Indenture further amends and supplements that certain Indenture (the "Original Indenture"), dated May 1, 2001, as amended by the Second Supplemental Indenture dated October 30, 2006 (as so amended and supplemented, the "Indenture"), between the Company and the Trustee. The Bonds are subject to the terms and conditions of the Indenture as amended and supplemented by the Third Supplemental Indenture, including, without limitation, the provisions relating to "Events of Default" and the acceleration of the Bonds upon the occurrence of an Event of Default.

In general, an Event of Default includes any of the following events: (i) a default by the Company as to the payment of any amounts (i.e., any principal, interest or premium) payable under the Bonds when due; (ii) any default in the performance, or breach, of any covenant, agreement or warranty of the Company contained in the Original Indenture which continues for 90 days after written notice thereof is given to the Company by the Trustee or to the Company and the Trustee by the holders of at least thirty-three percentum (33%) in principal amount of the securities (including the Bonds) outstanding under the Original Indenture, as amended, modified and supplemented from time to time; (iii) the bankruptcy or insolvency of the Company; (iv) any representation or warranty made in writing by or on behalf of the Company or by an officer of the Company in the Bond Purchase Agreement or any writing furnished in connection with the transactions contemplated hereby prove to have been false or incorrect in any material respect on the date as of which made, and such default is not remedied within 30 days; and (v) one or more final judgements or orders for the payment of money aggregating in excess of $125 million (or its equivalent in the relevant currency of payment), including any such final order enforcing a binding arbitration decision, are rendered against one or more of the Company and certain of its subsidiaries and which judgements are not, within, 60 days after thereof, bonded, discharged or stayed pending appeal, or are not discharged within 60 days after the expiration of such stay.

In the event the Company merges with and into Nevada Power Company ("Nevada Power", and such merger, the "Merger"), upon the effectiveness of the Merger (the "Merger Effective Date") each Bond shall be exchanged for an equal principal amount of 4.71% General and Refunding Mortgage Bonds, Series __, due 2052 of Nevada Power ("Exchange Bonds") issued pursuant to the General and Refunding Mortgage Indenture dated as of May 1, 2001, as amended and supplemented, between Nevada Power and the Trustee. Upon issuance of an Exchange Bond, the Bond for which it is exchangeable shall be deemed to be canceled and no longer outstanding.

The foregoing discussion of the Bonds, the Original Indenture, the Third Supplemental Indenture and the Officer's Certificate is qualified in its entirety by reference to: (i) the Bond Purchase Agreement, a copy of which is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated by reference herein, (ii) the Original Indenture and any supplemental indentures previously filed with the U.S. Securities and Exchange Commission, (iii) the Third Supplemental Indenture, a copy of which is filed as Exhibit 4.2 to this Current Report on Form 8-K and incorporated by reference herein, and (iv) the Officer's Certificate establishing the terms of the Bonds under the Original Indenture, as amended, a copy of which is filed as Exhibit 4.3 to this Current Report on Form 8-K and incorporated by reference herein.

~~The~~Item ~~proceeds~~9.01 ~~from~~Financial ~~the~~Statements ~~Series 2016ABFG Bonds were used to refund $58,700,000 of the Washoe Issuer’s Gas Facilities Refunding Revenue Bonds, Series 2006A, $84,800,000 of the Washoe Issuer’s Gas~~ and Water Facilities Refunding Revenue Bonds, Series 2006C and $75,000,000 of the Washoe Issuer’s Water Facilities Refunding Revenue Bonds, Series 2006B, each previously issued by the Washoe Issuer on behalf of the CompanyExhibits.

The Company issued its General and Refunding Mortgage Notes, Series V, No. V-2 in the amount of $213,930,000 (the “Series V-2 Notes”) pursuant to the G&R Indenture to provide collateral security for its obligations under the Series 2016ABFG Financing Agreement. The obligations of the Company to make any payment of the principal and interest on any Series V-2 Notes shall be fully or partially, as the case may be, deemed to have been paid or otherwise satisfied and discharged to the extent that the Company has made a payment (or otherwise funded a payment) as provided in the Series 2016ABFG Financing Agreement, in respect of the principal and interest of the Series 2016ABFG Bonds.

The foregoing discussion of the Series 2016ABFG Financing Agreement and the Series V-2 Notes is qualified in its entirety by reference to the Series 2016ABFG Financing Agreement and the Officer's Certificate establishing the terms of the Series V-2 Notes under the G&R Indenture, of which a copy of each is attached hereto as Exhibit 4.2 and Exhibit 4.4, respectively, and incorporated into this Item 2.03 by reference.

Series 2016AB Bonds

On May 24, 2016, the Company entered into a Financing Agreement, dated as of May 1, 2016, by and between Humboldt County, Nevada (the "Humboldt Issuer") and the Company (the "Series 2016AB Financing Agreement") whereby the Humboldt Issuer loaned to the Company the proceeds from the issuance, on behalf of the Company, of $20,000,000 of its Pollution Control Refunding Revenue Bonds, Series A, due 2029 (the "Series 2016A Bonds") and $29,750,000 of its Pollution Control Refunding Revenue Bonds, Series B, due 2029 (the "Series 2016B Bonds") (collectively, the “Series 2016AB Bonds”) pursuant to an Indenture of Trust dated as of May 1, 2016 between the Humboldt Issuer and The Bank of New York Mellon Trust Company, N.A., as Trustee (the "Series 2016AB Indenture"). Under the Series 2016AB Financing Agreement, the Company will pay the principal (or redemption price) and the interest and premium, if any, coming due on the Series 2016AB Bonds. The Series 2016A Bonds will initially bear interest at a term rate of 1.25% which will be payable on June 1 and December 1 each year, commencing December 1, 2016. The Series 2016A Bonds are subject to mandatory purchase by the Company on June 3, 2019, and on and after the purchase date, the interest rate mode on the Series 2016A Bonds may be adjusted from time to time as described in the Series 2016AB Indenture. The Series 2016B Bonds will initially bear interest at a weekly rate which will be calculated on a weekly basis and be payable on the first business day of each month, commencing June 1, 2016. The Company purchased the Series 2016B Bonds on their date of issuance to hold for the Company's own account and potential remarketing to the public at a future date.

The proceeds from the Series 2016AB Bonds were used to refund $49,750,000 of the Humboldt Issuer’s Pollution Control Refunding Revenue Bonds, Series 2006 previously issued by the Humboldt Issuer on behalf of the Company.

The Company issued its General and Refunding Mortgage Notes, Series V, No. V-3 $49,750,000 (the “Series V-3 Notes”) pursuant to the G&R Indenture to provide collateral security for its obligations under the Series 2016AB Financing Agreement. The obligations of the Company to make any payment of the principal and interest on any Series V-3 Notes shall be fully or partially, as the case may be, deemed to have been paid or otherwise satisfied and discharged to the extent that the Company has made a payment (or otherwise funded a payment) as provided in the Series 2016AB Financing Agreement, in respect of the principal and interest of the Series 2016AB Bonds.

The foregoing discussion of the Series 2016AB Financing Agreement and the Series V-3 Notes is qualified in its entirety by reference to the Series 2016AB Financing Agreement and the Officer's Certificate establishing the terms of the Series V-3 Notes under the G&R Indenture, of which a copy of each is attached hereto as Exhibit 4.3 and Exhibit 4.4, respectively, and incorporated into this Item 2.03 by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	~~Description~~	Description
4.1	Financing Agreement dated May 1, 2016 between Washoe County, Nevada and Sierra Pacific Power Company (relating to Washoe County, Nevada's $80,000,000 Water Facilities Refunding Revenue Bonds (Sierra Pacific Power Company Project) Series 2016C, 2016D and 2016E.	Bond Purchase Agreement, dated as of May 31, 2022, by and among Sierra Pacific Power Company and the Purchasers, relating to the $250,000,000 in principal amount of the 4.71% General and Refunding Mortgage Bonds due 2052.
4.2	Financing Agreement dated May 1, 2016 between Washoe County, Nevada and Sierra Pacific Power Company (relating to Washoe County, Nevada's $213,930,000 Gas Facilities Refunding Revenue Bonds, Gas and Water Facilities Refunding Revenue Bonds and Water Facilities Refunding Revenue Bonds (Sierra Pacific Power Company Projects) Series 2016A, 2016B, 2016F and 2016G.	Third Supplemental Indenture, dated as of May 31, 2022, by and between Sierra Pacific Power Company and the Bank of New York Mellon Trust Company, N.A., as Trustee.
4.3	Financing Agreement dated May 1, 2016 between Humboldt County, Nevada and Sierra Pacific Power Company (relating to Humboldt County, Nevada's $49,750,000 Pollution Control Refunding Revenue Bonds (Sierra Pacific Power Company Project) Series 2016A and 2016B.	Officer's Certificate establishing the terms of Sierra Pacific Power Company's 4.71% General and Refunding Mortgage Bonds, Series W, due 2052.
4.4	Officer’s Certificate establishing the terms of Sierra Pacific Power Company’s General and Refunding Mortgage Notes, Series V (Nos. V1, V-2 and V-3).
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, ~~the~~each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SIERRA PACIFIC POWER COMPANY
		NEVADA POWER COMPANY
	(Registrant)
Date: June 3, 2022
Date: May 24, 2016	/s/ E. Kevin Bethel
		/s/ Michael E. Cole
	E. Kevin Bethel
		Michael E. Cole
	Senior Vice President, Chief Financial Officer and Director
		Senior Vice President, Chief Financial Officer and Treasurer
		SIERRA PACIFIC POWER COMPANY
Date: June 3, 2022
		/s/ Michael E. Cole
		Michael E. Cole
		Senior Vice President, Chief Financial Officer and Treasurer

EXHIBIT INDEX

Exhibit No.			Description
4.1			Financing Agreement dated May 1, 2016 between Washoe County, Nevada and Sierra Pacific Power Company (relating to Washoe County, Nevada's $80,000,000 Water Facilities Refunding Revenue Bonds (Sierra Pacific Power Company Project) Series 2016C, 2016D and 2016E.
4.2			Financing Agreement dated May 1, 2016 between Washoe County, Nevada and Sierra Pacific Power Company (relating to Washoe County, Nevada's $213,930,000 Gas Facilities Refunding Revenue Bonds, Gas and Water Facilities Refunding Revenue Bonds and Water Facilities Refunding Revenue Bonds (Sierra Pacific Power Company Projects) Series 2016A, 2016B, 2016F and 2016G.
4.3			Financing Agreement dated May 1, 2016 between Humboldt County, Nevada and Sierra Pacific Power Company (relating to Humboldt County, Nevada's $49,750,000 Pollution Control Refunding Revenue Bonds (Sierra Pacific Power Company Project) Series 2016A and 2016B.
4.4			Officer’s Certificate establishing the terms of Sierra Pacific Power Company’s General and Refunding Mortgage Notes, Series V (Nos. V1, V-2 and V-3).

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