Warren Buffett’s Texas Power Push Sparks a Berkshire Backlash

Berkshire Hathaway unit backs plan to build gas-fired plants
But critics are pushing back as cost estimates spiral

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By Shelly Hagan

April 12, 2023 at 3:01 PM UTC

This article is for subscribers only.

Warren Buffett is leaving little to chance when it comes to winning a piece of one of the biggest American power deals.

The billionaire’s Berkshire Hathaway Energy has spent the past two years pushing to overhaul how the Texas electrical grid works, and is now promoting a bill that would require the state to fund construction of natural gas-fired power plants that would be turned on when the system is under strain. Cost estimates range from about $10 billion to $18 billion.