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Nevada Voters Uphold Warren Buffett’s Utility Monopoly

  • Dueling campaigns poured almost $100 million into battle
  • Utilities will be required to get 50% renewable power by 2030
Electrical power lines hang from a transmission pylon
Photographer: Waldo Swiegers/Bloomberg

Nevada voters rejected a measure to let customers choose their own electricity provider by 2023, preserving the near monopoly Warren Buffett’s NV Energy Inc. holds in the state.

The measure, backed by casino owner Sheldon Adelson, was defeated Tuesday, according to Associated Press tabulations. It would have forced NV Energy, owned by Buffett’s Berkshire Hathaway Inc., to open its retail business to competition and potentially sell power plants.