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NV Energy's third-quarter profit surges

NV Energy's third-quarter profit surges

CREATED Nov. 3, 2012

 LAS VEGAS (AP) -- NV Energy Inc. said Friday that its third-quarter profit surged due to increased electricity sales and lower interest expenses.

   The Las Vegas-based utility reported earnings of $223.2 million for the quarter ending Sept. 30 compared to $173.5 million for the same quarter last year.

   Company officials say increased energy sales in the third quarter primarily stemmed from customer growth and increased customer usage unrelated to weather.

   But they say warmer-than-normal weather slightly increased earnings in the third quarter compared with the same period a year ago.

   NV Energy President and CEO Michael Yackira says the strong quarterly performance also were due to the utility's investment in the Harry Allen Generating Station in southern Nevada.

   The utility serves 2.4 million Nevadans.