NOTE 6. LONG-TERM DEBT 125 NOTE 7. FAIR VALUE OF FINANCIAL INSTRUMENTS 129 ACRONYMS AND TERMS NOTE 8. DEBT COVENANT AND OTHER RESTRICTIONS 129 (The following common acronyms and terms are found in multiple locations within the document)

NOTE 9. DERIVATIVES AND HEDGING ACTIVITIES 132 Acronym/Term Meaning NOTE 10. INCOME TAXES (BENEFITS) 135

NOTE 11. RETIREMENT PLAN AND POST-RETIREMENT BENEFITS 143 2009 Form 10-K NVE’s, NPC’s and SPPC’s Annual Report on Form 10-K for the year ended December 31, 2009 NOTE 12. STOCK COMPENSATION PLANS 150 2010 Proxy Statement NVE’s, NPC’s and SPPC’s Proxy Statement for 2010 NOTE 13. COMMITMENTS AND CONTINGENCIES 153 AFUDC-debt Allowance for borrowed funds used during construction NOTE 14. COMMON STOCK AND OTHER PAID-IN CAPITAL 158 AFUDC-equity Allowance for equity funds used during construction NOTE 15. EARNINGS PER SHARE (NVE) 160 ASD Advanced Service Delivery BCP Bureau of Consumer Protection NOTE 16. ASSETS HELD FOR SALE 161 BOD Board of Directors NOTE 17. SEVERANCE PROGRAMS 161 BTER Base Tariff Energy Rate NOTE 18. QUARTERLY FINANCIAL DATA (UNAUDITED) 161 BTGR Base Tariff General Rate ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 163 CalPeco California Pacific Electric Company ITEM 9A Calpine Calpine Corporation AND 9T. CONTROLS AND PROCEDURES 164 CDWR California Water Resources Department CIAC Contributions in Aid of Construction ITEM 9B. OTHER INFORMATION 166 Clark Generating Station 550 megawatt nominally rated William Clark Generating Station Clark Peaking Units 600 megawatt nominally rated peaking units at the William Clark Generating Station PART III CPA Certified Public Accountant CPUC California Public Utilities Commission ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE OF THE REGISTRANT 166 CWIP Construction Work-In-Progress ITEM 11. EXECUTIVE COMPENSATION 166 d/b/a Doing business as DBRS Dominion Bond Rating Service ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 166 DEAA Deferred Energy Accounting Adjustment ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 166 DOE Department of Energy ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 166 DOS Distribution Only Service DSM Demand Side Management PART IV Dth Decatherm EEC Ely Energy Center EPA United States Environmental Protection Agency ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 167 EPS Earnings Per Share EROC Enterprise Risk Oversight Committee SIGNATURES 168 ESP Energy Supply Plan FASB Financial Accounting Standards Board FASC FASB Accounting Standards Codification FERC Federal Energy Regulatory Commission Fitch Fitch Ratings, Ltd. GAAP Accounting Principles Generally Accepted in the United States GBT Great Basin Transmission, LLC GRC General Rate Case Harry Allen Generating Station 142 megawatt nominally rated Harry Allen Generating Station Higgins Generating Station 598 megawatt nominally rated Walter M. Higgins, III Generating Station IBEW International Brotherhood of Electrical Workers IRP Integrated Resource Plan IRS Internal Revenue Service Joint Project Joint Ownership for the ON Line project among NPC, SPPC and GBT kV Kilovolt kWh Kilowatt Hour LDC Local Distributing Company Lenzie Generating Station 1,102 megawatt nominally rated Chuck Lenzie Generating Station MMBtu Million British Thermal Units Mohave Generating Station 1,580 megawatt nominally rated Mohave Generating Station Moody’s Moody’s Investors Services, Inc. MW Megawatt MWh Megawatt hour Navajo Generating Station 255 megawatt nominally rated Navajo Generating Station NDEP Nevada Division of Environmental Protection NEICO Nevada Electrical Investment Company NERC North American Electric Reliability Corporation Newmont Newmont Mining Corporation Ninth Circuit United States Court of Appeals for the Ninth Circuit NOL Net Operating Loss NPC d/b/a NV Energy NPC’s Indenture NPC’s General and Refunding Mortgage Indenture dated as of May 1, 2001, between NPC and the Bank of New York Mellon Trust Company N.A., as Trustee NVE NV Energy, Inc. OATT Open Access Transmission Tariff ON Line 250 mile 500 kV transmission line connecting NVE’s northern and southern service territories PEC Portfolio Energy Credit Piñon Pine Piñon Pine Demonstration Project Portfolio Standard Nevada Renewable Energy Portfolio Standard PPC Piñon Pine Corporation PPIC Piñon Pine Investment Company PUCN Public Utilities Commission of Nevada

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