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Filed Pursuant to Rule 424(b)(5)
Registration No. 333-17041
PRICING SUPPLEMENT NO. 1 DATED December 8, 1998
(To Prospectus Dated December 20, 1996 and Prospectus Supplement Dated December
7, 1998)
U.S. $35,000,000
SIERRA PACIFIC POWER COMPANY
Collateralized Medium-Term Notes, Series D
Due Nine Months or more from Date of Issue
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Date of Issue: 12/11/98 Issue Price (As a Percentage of Principal Amount): 100.00%
Maturity Date: 12/11/03 Interest Rate/Initial Interest Rate: 5.59%
Agents Commission: .500% of Principal Amount If Commercial Paper Rate Note, Prime Rate Note, CD Rate
Form: X Book Entry Certificated Note, Federal Funds Effective Rate Note, LIBOR Note or
--- --- Treasury Rate Note:
X Fixed Rate Note Interest Payment Dates: February 1 & August 1
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Commercial Paper Rate Note Currency or Currency Unit: U.S. Dollars (USD or U.S.S.)
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Prime Rate Note Interest Payment Period:
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CD Rate Note Interest Reset Period:
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Federal Funds Effective Rate Note Interest Determination Dates:
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LIBOR Note Spread:
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Treasury Rate Note Spread Multiplier:
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Maximum Interest Rate, if any:
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Redeemable Note Minimum Interest Rate, if any:
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X Non-redeemable Note Calculation Dates:
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Calculation Agent:
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The aggregate principal amount of this offering is U.S. $13,000,000 (which, if
the securities offered hereby are denominated in a currency or currency unit
other that U.S. dollars, is the equivalent, in the currency or currency units
set forth herein, of the principal amount set forth herein at the exchange rate
set forth herein) and relates only to the Pricing Supplement No. 1 . Debt
Securities including Medium-Term Notes, Series D, may be issued by the Company
in the aggregate principal amount of up to U.S. $35,000,000 or the equivalent in
foreighn currency units. To date, including this offering, an aggregate of U.S.
$13,000,000 or the equivalent in foreign currency or foreign currency units of
Medium-Term Notes, Series D and all other Debt Securities has been issued.
TYPE OF SALE:
X As Agent
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As Principal
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