Regulated, vertically integrated electric utility that provides an essential service to Las Vegas and the surrounding area; Operations under a generally constructive regulatory environment; and Midsized customer base with limited geographic diversity. We evaluate Nevada Power Co.'s financial measures using our more moderate financial benchmarks compared with the typical corporate issuer based on its utility operations and effective management of regulatory risk; and We expect our core ratio, funds from operations (FFO) to total debt, to average about 16% beginning in 2018 to reflect lower FFO because of waning deferred tax benefits. The stable outlook on Nevada Power Co. (NPC) reflects S&P Global Ratings' outlook on its parent Berkshire Hathaway Energy Co. (BHE). The stable outlook on Berkshire Hathaway Energy
