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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM U-3A-2/A

STATEMENT CLAIMING EXEMPTION UNDER RULE U-3A-2 FROM
THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF
1935

SOUTHWEST GAS CORPORATION

(Exact name of registrant as specified in its charter)


California   88-0085720
(State or other jurisdiction of   (I.R.S. Employer
incorporation or organization)   Identification No.)
     
5241 Spring Mountain Road  
Post Office Box 98510  
Las Vegas, Nevada   89193-8510
(Address of principal executive offices)   (Zip Code)


Robert M. Johnson
Assistant General Counsel
Southwest Gas Corporation
5241 Spring Mountain Road
P.O. Box 98510
Las Vegas, NV 89193-8510
(name and address of agent for service)


The Commission is requested to send copies of all notices, orders and communications in
connection with this Form U-3A-2 to:

Margaret A. Moore
Van Ness Feldman, P.C.
Seventh Floor
1050 Thomas Jefferson Street, N.W.
Washington, D.C. 20007


STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION
UNDER RULE U-3A-2 FROM THE PROVISIONS OF
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935

SOUTHWEST GAS CORPORATION

hereby files with the Securities and Exchange Commission pursuant to Rule 2, its statement claiming exemption as a holding company from the provisions of the Public Utility Holding Company Act of 1935, as amended (Act), and submits the following information.


1. NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF CLAIMANT AND EVERY SUBSIDIARY THEREOF, OTHER THAN ANY EXEMPT WHOLESALE GENERATOR (EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY OR INDIRECTLY HOLDS AN INTEREST.

CLAIMANT

        Southwest Gas Corporation (Southwest) is incorporated under the laws of the State of California and has its principal place of business at 5241 Spring Mountain Road, P.O. Box 98510, Las Vegas, NV 89193-8510. Southwest is directly engaged in the business of purchasing, transporting, and distributing natural gas to 1,613,000 residential, commercial, and industrial customers in portions of Arizona, Nevada and California.

        Southwest’s operations are overseen by the Arizona Corporation Commission (ACC), the Public Utilities Commission of Nevada (PUCN), and the California Public Utilities Commission (CPUC). These commissions regulate Southwest’s rates, practices, facilities, and service territories in Arizona, Nevada, and California. The CPUC also regulates the issuance of all securities by Southwest, with the exception of short-term borrowings. Certain accounting practices, transmission facilities, and rates are subject to regulation by the Federal Energy Regulatory Commission (FERC).

NONUTILITY SUBSIDIARIES

        Paiute Pipeline Company (Paiute), a wholly-owned subsidiary of Southwest, is a corporation incorporated under the laws of the State of Nevada and has its principal place of business at 5241 Spring Mountain Road, P.O. Box 98510, Las Vegas, NV 89193-8510. Paiute owns and operates an interstate gas transmission system and liquified natural gas storage facilities in northern Nevada.

2


        Southwest Gas Transmission Company (“SGTC”), a partnership made up of Southwest and a wholly-owned subsidiary, Utility Financial Corporation, and has its principal place of business at 5241 Spring Mountain Road, P.O. Box 98510, Las Vegas, NV 89193-8510. SGTC operates an interstate gas transmission system in southern Nevada.

        Northern Pipeline Construction Co. (Northern), a wholly-owned subsidiary of Southwest, is a corporation incorporated under the laws of the State of Nevada and has its principal place of business at 5241 Spring Mountain Road, P.O. Box 98510, Las Vegas, NV 89193-8510. Northern is a full-service underground piping contractor, which provides utility companies with trenching and installation, replacement, and maintenance services for energy distribution systems.

UTILITY SUBSIDIARY

        Black Mountain Gas Company (Black Mountain) is a wholly-owned subsidiary of Southwest. Black Mountain is incorporated under the laws of the State of Minnesota, having its principal place of business at 6021 East Cave Creek Road, Cave Creek, AZ 85331. Black Mountain is a propane utility serving retail gas customers in northern Arizona.

        Black Mountain’s utility operation, which is regulated by the ACC, is located in Page, Arizona. The Page operations includes an ACC regulated propane vapor distribution system in Page, Arizona, which serves approximately 1,300 residential and small commercial customers, and a non-regulated bulk propane sales operation that serves approximately 650 customers in and around Page, Arizona.


2. A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES USED FOR THE GENERATION, TRANSMISSION, AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE PRODUCTION, TRANSMISSION, AND DISTRIBUTION OF NATURAL OR MANUFACTURED GAS, INDICATING THE LOCATION OF PRINCIPAL GENERATING PLANTS, TRANSMISSION LINES, PRODUCING FIELDS, GAS MANUFACTURING PLANTS, AND ELECTRIC AND GAS DISTRIBUTION FACILITIES, INCLUDING ALL SUCH PROPERTIES WHICH ARE OUTSIDE THE STATE IN WHICH CLAIMANT AND ITS SUBSIDIARIES ARE ORGANIZED AND ALL TRANSMISSION OR PIPELINES WHICH DELIVER OR RECEIVE ELECTRIC ENERGY OR GAS AT THE BORDERS OF SUCH STATE.

3


        Southwest’s properties consist primarily of transmission and distribution mains, compressor stations, peak shaving/storage plants, service lines, meters, and regulators which comprise the pipeline systems and facilities located in and around the communities served. These communities include most of central and southern Arizona, including the Phoenix and Tucson metropolitan areas, northern Nevada and the Las Vegas metropolitan area, and the Lake Tahoe area and the high desert and mountain areas in San Bernardino County, California. Southwest also includes other properties such as land, buildings, furnishings, work equipment, vehicles and software systems in plant investment. The northern Nevada and northern California properties of Southwest are referred to as the northern system; the Arizona, southern Nevada, and southern California properties are referred to as the southern system. Several properties are leased by Southwest, including a portion of the corporate headquarters office complex located in Las Vegas, Nevada, and the administrative offices in Phoenix, Arizona. Total gas plant, exclusive of leased property, at December 31, 2004 was approximately $3.3 billion, including construction work in progress.

        Southwest operates two primary pipeline transmission systems: (i) the system owned by Paiute, Southwest’s nonutility subsidiary, extending from the Idaho-Nevada border to the Reno, Sparks, and Carson City areas and communities in the Lake Tahoe area in both California and Nevada and other communities in northern Nevada; and (ii) a system extending from the Colorado River at the southern tip of Nevada to the Las Vegas distribution area.

        As discussed above, Black Mountain owns a propane vapor distribution system located in Page, Arizona, and properties related to its bulk propane sales. Black Mountain holds other properties appurtenant to its propane operations.


3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH RESPECT TO CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES:

  a. NUMBER OF KWH OF ELECTRIC ENERGY SOLD (AT RETAIL OR WHOLESALE) AND MCF OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL.

        Southwest sold 120,945,335 Mcf of natural gas at retail and transported 132,647,427 Mcf of natural gas.

        Black Mountain sold 116,3681 Mcf of propane gas at retail.


           1   To calculate the number of MCF of propane sold during this period, it was assumed that there were 10.917 gallons of propane per MCF.

4



  b. NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY IS ORGANIZED.

        Southwest sold 111,530,851 Mcf of natural gas outside of the State in which it is organized, and transported 123,232,943 Mcf of natural gas outside of the State in which it is organized.

        Black Mountain sold 116,368 Mcf of propane gas outside of the State in which it is organized.


  c. NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR MANUFACTURED GAS SOLD AT WHOLESALE OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY IS ORGANIZED, OR AT THE STATE LINE.

        Southwest sold 0 Mcf of natural gas at wholesale outside the State in which it is organized.

        Black Mountain sold 0 propane gas at wholesale.


  d. NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR MANUFACTURED GAS PURCHASED OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY IS ORGANIZED OR AT THE STATE LINE.

        Southwest purchased 106,382,875 Mcf of natural gas outside the State in which it is organized, or at the State line.

        Black Mountain purchased 113,260 Mcf of propane gas outside the State in which it is organized.


4. THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH RESPECT TO CLAIMANT AND EACH INTEREST IT HOLDS DIRECTLY OR INDIRECTLY IN AN EWG OR A FOREIGN UTILITY COMPANY, STATING MONETARY AMOUNTS IN UNITED STATES DOLLARS.

  a. NAME, LOCATION, BUSINESS ADDRESS AND DESCRIPTION OF THE FACILITIES USED BY THE EWG OR FOREIGN UTILITY COMPANY FOR THE GENERATION, TRANSMISSION, AND DISTRIBUTION OF

5


    ELECTRIC ENERGY FOR SALE OR FOR THE DISTRIBUTION AT RETAIL OF NATURAL OR MANUFACTURED GAS.

          Not applicable.


  b. NAME OF EACH SYSTEM COMPANY THAT HOLDS AN INTEREST IN SUCH EWG OR FOREIGN UTILITY COMPANY, AND DESCRIPTION OF THE INTEREST HELD.

          Not applicable.


  c. TYPE AND AMOUNT OF CAPITAL INVESTED, DIRECTLY OR INDIRECTLY, BY THE HOLDING COMPANY CLAIMING EXEMPTION; ANY DIRECT OR INDIRECT GUARANTEE OF THE SECURITY OF THE EWG OR FOREIGN UTILITY COMPANY BY THE HOLDING COMPANY CLAIMING EXEMPTION; AND ANY DEBT OR OTHER FINANCIAL OBLIGATION FOR WHICH THERE IS RECOURSE, DIRECTLY OR INDIRECTLY, TO THE HOLDING COMPANY CLAIMING EXEMPTION OR ANOTHER SYSTEM COMPANY, OTHER THAN THE EWG OR FOREIGN UTILITY COMPANY.

          Not applicable.


  d. CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY COMPANY DURING THE REPORTING PERIOD.

          Not applicable.


  e. IDENTIFY ANY SERVICE, SALES OR CONSTRUCTION CONTRACT(S) BETWEEN THE EWG OR FOREIGN UTILITY COMPANY AND A SYSTEM COMPANY, AND DESCRIBE THE SERVICES TO BE RENDERED OR GOODS SOLD AND FEES OR REVENUES UNDER SUCH AGREEMENT(S).

          Not applicable.

6


EXHIBIT A

        A CONSOLIDATING STATEMENT OF INCOME AND SURPLUS OF THE CLAIMANT AND ITS SUBSIDIARY COMPANIES FOR THE LAST CALENDAR YEAR, TOGETHER WITH A CONSOLIDATING BALANCE SHEET OF CLAIMANT AND ITS SUBSIDIARY COMPANIES AS OF THE CLOSE OF SUCH CALENDAR YEAR.

        The attached statements show comparative income and balance sheet information for Southwest and Black Mountain for the years ended December 31, 2003 and 2004. These numbers are provided for comparative purposes only in support of this Statement Claiming Exemption. The information is presented in non-GAAP format.

EXHIBIT B

AN ORGANIZATIONAL CHART SHOWING THE RELATIONSHIP OF EACH EWG
OR FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES IN THE
HOLDING COMPANY SYSTEM

Not Applicable.

EXHIBIT C

SUPPLEMENTAL INFORMATION CONCERNING SALES AND
ORGANIZATIONAL DATA AS WELL AS EXEMPTION CLAIMED FOR THE
PREVIOUS TWO YEARS (11/12/2004 Request)

The supplemental information is attached.

7


          The above-named claimant has caused this statement to be duly executed on its behalf by its authorized officer on this 18th day of March 2005.


SOUTHWEST GAS CORPORATION


By:          /s/Roy R. Centrella          
     Roy R. Centrella
     Vice President/Controller/Chief
     Accounting Officer

Attest:  /s/ Robert M. Johnson  
                Robert M. Johnson
          Assistant General Counsel


NAME, TITLE, AND ADDRESS OF OFFICER TO WHOM NOTICES AND CORRESPONDENCE CONCERNING THIS STATEMENT SHOULD BE ADDRESSED:

Robert M. Johnson
Assistant General Counsel
Southwest Gas Corporation
5241 Spring Mountain Road
P.O. Box 98510
Las Vegas, NV 89193-8510

Margaret A. Moore
Van Ness Feldman, P.C.
Seventh Floor
1050 Thomas Jefferson Street, N.W.
Washington, D.C. 20007

8





EXHIBIT A
Consolidated Statement of Income and Balance Sheet - 2003










Southwest Gas Corporation
Black Mountain Gas
Combining Statement of Income
Year Ended December 31, 2003
(Thousands of dollars)


Southwest Gas
Corporation
(Gas Operations)
 Black Mountain
Gas
 Total
Operating revenues                
    Natural gas operating revenues   $ 1,034,353   $ --   $ 1,034,353  
    Propane gas operating revenues    --    2,083 (1)  2,083  
    Other    --    --    --  
Total operating revenues    1,034,353    2,083    1,036,436  
Operating expenses  
    Net cost of natural gas/propane sold    482,503    951    483,454  
    Operations and maintenance    266,862    639    267,501  
    Depreciation and amortization    120,791    161    120,952  
    Taxes other than income taxes    35,910    67    35,977  
    Other    --    --    --  
    Total operating expense    906,066    1,818    907,884  
Operating income    128,287    265    128,552  
Other income and (expenses)  
    Net interest deductions    (76,251 )  (6 )  (76,257 )
    Preferred securities distributions    (4,180 )  --    (4,180 )
    Other income       2,955     3     2,958  
    Net interest deductions on subordinated debentures       (2,680 )   --     (2,680 )
    Total other income and (expenses)    (80,156 )  (3 )  (80,159 )
Income before income taxes    48,131    262    48,393  
Income tax expense    13,920    6    13,926  
Net Income   $ 34,211   $ 256   $ 34,467  


(1)     Propane gas operating revenues of $2,083,000 is comprised of regulated propane revenues of $1,376,000 and non-
        regulated propane revenues of $707,000.



Southwest Gas Corporation
Black Mountain Gas
Combining Balance Sheet
December 31, 2003
(Thousands of dollars)


Southwest Gas
Corporation
(Gas Operations)
 Black Mountain
Gas
 Total
Assets
Utility Plant                
    Gas plant   $ 3,035,969   $ 4,136   $ 3,040,105  
    Less: accumulated depreciation    (964,309 )  (2,061 )  (966,370 )
    Acquisition adjustments    2,533    --    2,533  
    Construction work in progress    33,543    --    33,543  
      Net utility plant    2,107,736    2,075    2,109,811  
Other Property and Investments    47,329    571    47,900  
Current and Accrued Assets  
    Cash and cash equivalents    14,175    302    14,477  
    Accounts receivable, net of allowances    103,280    375    103,655  
    Accrued utility revenue    66,700    --    66,700  
    Deferred income taxes    4,178    --    4,178  
    Deferred purchased gas costs    9,151    --    9,151  
    Prepaids and other current assets    113,728    177    113,905  
      Total current and accrued assets    311,212    854    312,066  
Deferred charges and other assets    64,098    63    64,161  
Total Assets   $ 2,530,375   $ 3,563   $ 2,533,938  


Southwest Gas Corporation
Black Mountain Gas
Combining Balance Sheet
December 31, 2003
(Thousands of dollars)


Southwest Gas
Corporation
(Gas Operations)
 Black Mountain
Gas
 Total
Capitalization, Liabilities and Deferred Credits
Capitalization                
    Common stock     $ 35,862   $ 2,965   $ 38,827  
    Additional paid-in capital    510,521    --    510,521  
    Retained earnings    84,084    203    84,287  
      Total common equity    630,467    3,168    633,635  
    Preferred equity    100,000    --    100,000  
    Long-term debt, less current maturities    1,117,057    --    1,117,057  
      Total capitalization    1,847,524    3,168    1,850,692  
Current and Accrued Liabilities  
    Current maturities of long-term debt    --    --    --  
    Short-term debt    52,000    --    52,000  
    Accounts payable    106,738    190    106,928  
    Customers deposits    44,290    132    44,422  
    Accrued taxes    32,456    --    32,456  
    Income tax payable    --    --    --  
    Accrued interest    19,665    --    19,665  
    Deferred income taxes    --    --    --  
    Deferred purchased gas costs    --    --    --  
    Other current liabilities    68,987    73    69,060  
      Total current and accrued liabilities    324,136    395    324,531  
Deferred Income Taxes and Other Credits  
    Deferred income taxes and investment tax credits    285,163    --    285,163  
    Other deferred credits    73,552    --    73,552  
      Total deferred income taxes and other credits    358,715    --    358,715  
Total Capitalization, Liabilities and Deferred Credits   $ 2,530,375   $ 3,563   $ 2,533,938  





Consolidated Statement of Income and Balance Sheet - 2004










Southwest Gas Corporation
Black Mountain Gas
Combining Statement of Income
Year Ended December 31, 2004
(Thousands of dollars)

Southwest Gas
Corporation
(Gas Operations)
 Black Mountain
Gas
 Eliminations
 Total
Operating revenues                    
    Natural gas operating revenues   $ 1,262,052   $ --   $ --   $ 1,262,052  
    Propane gas operating revenues    --    2,344 (1)  --    2,344  
    Other    --    --    --    --  
Total operating revenues    1,262,052    2,344    --    1,264,396  
Operating expenses    
    Net cost of natural gas/propane sold    645,766    1,137    --    646,903  
    Operations and maintenance    290,800    781    --    291,581  
    Depreciation and amortization    130,515    183    --    130,698  
    Taxes other than income taxes    37,669    77    --    37,746  
    Other    --    --    --    --  
    Total operating expense    1,104,750    2,178    --    1,106,928  
Operating income    157,302    166    --    157,468  
Other income and (expenses)    --  
    Net interest deductions    (78,137 )  (6 )  --    (78,143 )
    Other income       1,611     5     (165 )   1,451  
    Net interest deductions on sub.    
    debentures       (7,724 )   --     --   (7,724 )
    Total other income and (expenses)    (84,250 )  (1 )  (165 )  (84,416 )
Income before income taxes    73,052    165    (165 )  73,052  
Income tax expense    24,698    --    --    24,698  
Net Income   $ 48,354   $ 165   $ (165 ) $ 48,354  


  (1)     Propane gas operating revenues of $2,344,000 is comprised of regulated propane revenues of $1,447,000 and non-regulated propane revenues of $897,000.




Southwest Gas Corporation
Black Mountain Gas
Combining Balance Sheet
December 31, 2004
(Thousands of dollars)

Southwest Gas
Corporation
(Gas Operations)
 Black Mountain
Gas
 Eliminations
 Total
Assets
 Utility Plant                    
     Gas plant   $ 3,287,591   $ 4,097   $ --   $ 3,291,688  
     Less: accumulated depreciation    (985,919 )  (2,194 )  --    (988,113 )
     Acquisition adjustments    2,353    --    --    2,353  
     Construction work in progress    31,967    13    --    31,980  
       Net utility plant    2,335,992    1,916    --    2,337,908  
 Other Property and Investments    97,046    522    (1,864 )  95,704  
 Current and Accrued Assets  
     Cash and cash equivalents    8,938    155    --    9,093  
     Accounts receivable, net of allowances    148,884    474    --    149,358  
     Accrued utility revenue    68,200    --    --    68,200  
     Deferred purchased gas costs    82,076    196    --    82,272  
     Prepaids and other current assets    89,355    170    --    89,525  
       Total current and accrued assets    397,453    995    --    398,448  
 Deferred charges and other assets    60,471    --    (1,215 )  59,256  
 Total Assets     $ 2,890,962   $ 3,433   $ (3,079 ) $ 2,891,316  
           
   Capitalization, Liabilities and Deferred Credits
Capitalization  
     Common stock   $ 38,424   $ --   $ --   $ 38,424  
     Additional paid-in capital    566,646    2,715    (2,715 )  566,646  
     Accumulated other comprehensive income (loss)    (10,892 )  --    --    (10,892 )
     Retained earnings    111,498    364    (364 )  111,498  
       Total common equity    705,676    3,079    (3,079 )  705,676  
     Preferred equity    100,000    --    --    100,000  
     Long-term debt, less current maturities    1,156,752    --    --    1,156,752  
       Total capitalization    1,962,428    3,079    (3,079 )  1,962,428  
 Current and Accrued Liabilities  
     Current maturities of long-term debt    25,000    --    --    25,000  
     Short-term debt    100,000    --    --    100,000  
     Accounts payable    160,501    99    --    160,600  
     Customers deposits    50,194    138    --    50,332  
     Accrued taxes    38,189    117    --    38,306  
     Accrued interest    22,425    --    --    22,425  
     Deferred income taxes    30,879    --    --    30,879  
     Other current liabilities    32,098    --    --    32,098  
       Total current and accrued liabilities    459,286    354    --    459,640  
 Deferred Income Taxes and Other Credits  
     Deferred income taxes and investment tax credits    272,822    --    --    272,822  
     Taxes payable    1,390    --    --    1,390  
     Accumulated removal costs    84,000    --    --    84,000  
     Other deferred credits    111,036    --    --    111,036  
       Total deferred income taxes and other credits    469,248    --    --    469,248  
 Total Capitalization, Liabilities and Deferred Credits   $ 2,890,962   $ 3,433   $ (3,079 ) $ 2,891,316  









EXHIBIT C

Supplemental Information










EXHIBIT C
Supplemental Information Concerning Sales and Organizational Data 1


1. Total gross revenue for all electric energy sold (at retail or wholesale) and natural or manufactured gas distributed (at retail).

          Response:


2003
(Thousands of Dollars)		 2004
(Thousands of Dollars)
               
    Southwest $1,033,764    $1,262,052  
               
    Black Mountain   1,376      1,435  

2. Total gross revenue for all electric energy sold and natural gas or manufactured gas distributed at retail outside the State in which such company is organized.

          Response:


2003
(Thousands of Dollars)		 2004
(Thousands of Dollars)
               
    Southwest   $934,785          $1,138,252  
               
    Black Mountain   1,376          1,435  

3. Total gross revenue for all electric energy and natural or manufactured gas distributed at wholesale outside the State in which such company is organized.

          Response:


2003
(Thousands of Dollars)		 2004
(Thousands of Dollars)
               
    Southwest   $589            $0  
               
    Black Mountain   0            0  


  1   The gross revenue amounts for Black Mountain are limited to its regulated propane sales operations.

1



4. Total gross revenue for all electric energy and natural or manufactured gas purchased outside the State in which such company is organized.2

           Response:

2003
(Thousands of Dollars)		 2004
(Thousands of Dollars)
               
    Southwest   $1,034,353          $1,262,052  
               
    Black Mountain   1,376          1,435  

5. Please identify the specific section of the Act the claim of exemption is made under Section 3(a)(1) or 3(a)(2) of the Act.

  Response:   Southwest Gas Corporation is claiming its exemption under Section 3(a)(2) of the Act. Southwest’s utility operations are limited to the state of organization, California, and the contiguous states of Nevada and Arizona.

6. Provide an organizational chart showing the holding company system.

  Response:   A table outlining Southwest Gas Corporation’s corporate structure is attached. Of company’s subsidiaries, only Black Mountain Gas Company falls within the purview of the Act.


          2    The gross revenue amounts for Southwest includes transportation and other operating revenues associated to its regulated natural gas operations.

2

Organization Chart