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Filed Pursuant to Rule 424(b)(5)
Registration No. 333-17041
PRICING SUPPLEMENT NO. 3 DATED DECEMBER 11, 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: 12/16/98 Issue Price (As a Percentage of Principal Amount): 100.00%
Maturity Date: 12/17/01 Interest Rate/Initial Interest Rate: 5.47%
Agents Commission: .350% of Principal Amount If Commercial Paper Rate Note, Prime Rate Note, CD Rate Note,
Form: X Book Entry ___ Certificated Federal Funds Effective Rate Note, LIBOR Note or Treasury Rate Note:
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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.)
___ Prime Rate Note Interest Payment Period:___________________________________________
___ CD Rate Note Interest Reset Period:_____________________________________________
___ Federal Funds Effective Rate Note Interest Determination Dates:______________________________________
___ LIBOR Note Spread:____________________________________________________________
___ Treasury Rate Note Spread Multiplier:_________________________________________________
Maximum Interest Rate, if any:_____________________________________
___ Redeemable Note Minimum Interest Rate, if any:_____________________________________
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. $17,000,000 (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 the
| Pricing Supplement No. 3. 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 foreign currency units. To date, including
| this offering, an aggregate of U.S. $35,000,000 or the equivalent in foreign currency or foreign currency units of
| Medium-Term Notes, Series D and all other Debt Securities has been issued.
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TYPE OF SALE: IF PRINCIPAL TRANSACTION REOFFERING AT:
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___ As Agent X varying prices related to prevailing market prices at the time of resale
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X As Principal
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