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Buffett’s Berkshire Floats $8.3 Billion Fix for Texas Grid

  • Warren Buffett-owned company wants to add 10 gigawatts of gas
  • Customers would pay for plants, and Berkshire would get return
Warren Buffett
Warren BuffettPhotographer: Scott Eells/Bloomberg
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Warren Buffett’s Berkshire Hathaway Inc. is proposing an $8.3 billion plan to help Texas avoid a repeat of February’s blackouts: Building a lot of new natural gas plants.

The conglomerate is asking state lawmakers to approve a plan for a new company that would add about 10 gigawatts of gas plants and emergency gas storage, according to a presentation seen by Bloomberg. The Texas grid operator would control the plants and could tap them to prevent blackouts like the one that left more than 4 million homes and businesses in the dark.