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Thursday, Oct. 30, 2003 | 11:21 a.m.
The state Public Utilities Commission on Wednesday voted 3-0 to approve a request from Nevada Power Co. and its sister company Sierra Pacific Power Co. of Reno to issue $338 million in debt to hold off a New York bankruptcy court judgment.
If accepted by a bankruptcy court judge, the debt will back bonds that would serve as collateral, staying the execution of a judgment in favor of Enron Corp. The companies are disputing expensive power contracts signed during the Western energy crisis.
The bankruptcy court is expected to consider the bond proposal on Friday.
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