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July 18, 2002

* Sierra Pacific Resources Corp. said it would raise rates for its California electric utility customers by 25% to cover power procurement costs under a plan approved by the Public Utilities Commission on a 4-1 vote. The average monthly residential bill for customers in California will increase to $64.63 from $51.63.

* URS Corp. of San Francisco agreed to buy EG&G Technical Services, which provides engineering and construction services to the federal government, for $335 million in cash and stock. EG&E is a unit of Washington-based Carlyle Group, a privately held company.

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