Thursday, December 21, 2006

Sierra Sells Pipeline

The parent of Sierra Pacific Power Co. on Tuesday closed the sale of its 50 percent interest in the Tuscarora Gas Transmission Co. to TC PipeLines LP of Canada for $100 million.

Sierra Pacific Resources previously said it planned to sell its stake in Tuscarora to concentrate on its growing utility subsidiaries, Sierra Pacific Power Co. in Reno and Nevada Power Co. in Las Vegas.

The pipeline is a 240-mile natural gas line from Malin, Ore., to Reno.