Friday, May 20, 2005 | 11:20 a.m.
A cooperative accord between Nevada Power Co., the Southern Nevada Water Authority and the Colorado River Commission received its final approval Thursday morning.
In a unanimous vote, the SNWA Board of Directors approved final language of a deal unveiled in February.
Among the major details is an agreement that will allow the Las Vegas electric company to manage the Water Authority's 25 percent interest in the Silverhawk power plant about 20 miles north of Las Vegas.
The eight-year deal will give the electric company more control over power generation resources. The Water Authority, in return, will get 75 megawatts of firm power resources from the utility.
Nevada Power also will manage power scheduling details for the Colorado River Commission, which buys electricity for the Water Authority. That service had been contracted to Public Service Co. of New Mexico.
"It's really important for one of the largest power users and the (utility) trying to manage the power grid to be working together," said Richard Wimmer, deputy general manager of Water Authority.
In addition, the agreement settled a series of lawsuits and regulatory actions between Nevada Power, SNWA and the Colorado River Commission. Many of those battles began amid the fallout of the 2000-01 Western energy crisis and included a $3.2 billion bid the water authority made to buy the power company.
SNWA board member and Las Vegas Mayor Oscar Goodman, who sharply criticized the secrecy that surrounded the negotiations leading up the deal, was absent from Thursday's meeting.
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