NV Energy chief leaving after 7 years at helm

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Updated: 6/30 6:27 am

LAS VEGAS (AP) — Nevada's dominant electric utility is getting a new chief executive.

Michael Yackira steps down Monday after almost seven years as president and CEO of NV Energy.

Paul Caudill takes over the corporate owner of Nevada Power and Sierra Pacific Power companies.

The Las Vegas Sun reports that publicly traded Las Vegas-based NV Energy stayed in the black on Yackira's watch, a few years after almost going bankrupt.

Yackira oversaw completion of the $552 million, 231-mile One Nevada transmission line connecting northern and southern Nevada electric grids and the start of plans to close the coal-fueled Reid Gardner Generating Station northeast of Las Vegas.

NV Energy was sold last year for $5.6 billion to a MidAmerican Energy Holdings Co., a subsidiary of billionaire investor Warren Buffett's Berkshire Hathaway Inc.


©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Speed - 6/30/2014 12:10 PM
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Let me guess---"and the cost of electricity in Nevada will go up again due to the change of Management..."
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