Buffett’s $26 Billion Power Bet in West Seen Paying Off
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Warren Buffett’s $26 billion bet on western U.S. power plants, transmission lines and wind farms is poised to pay off.
The energy unit of Buffett’s Berkshire Hathaway Inc., with the help of California’s grid operator, is moving to unite the holdings under a single market capable of dispatching power across seven states every five minutes. The system, designed to handle sudden swings in supply and demand, would revolutionize the markets from Oregon to Nevada, where 38 transmission operators manually balance their territories on an hourly basis.