Berkshire Hathaway Energy

Berkshire Hathaway Energy
Company typeSubsidiary
PredecessorMidAmerican Energy Holdings Company
Headquarters
Des Moines, Iowa
Key people
RevenueIncrease $25.15 billion (2021)[1]
Increase $4.25 billion (2012)[2]
Increase $2.57 billion (2012)[2]
OwnerBerkshire Hathaway (100%)
ParentBerkshire Hathaway
Websitewww.brkenergy.com

Berkshire Hathaway Energy (previously known as MidAmerican Energy Holdings Company until 2014) is a holding company and subsidiary of Berkshire Hathaway, which owns 100% of the company. Berkshire has owned a controlling stake since 1999.[3] The company also controls power distribution companies in the United Kingdom and Canada.[4]

Greg Abel is chairman; Scott W. Thon is president and CEO. David L. Sokol was CEO until 2008.

Until 2014, it was known as MidAmerican Energy Holdings Company from its root as MidAmerican Energy Company; it took on the name of its parent to reflect the diversity of its portfolio.[5]

As of 2019, BHE "serves 4.9 million retail customers, generates 29 gigawatts of power and transports 8.2 billion cubic feet of natural gas per day over 16,400 miles of regulated pipeline."[4]

In 2023, a jury ordered BHE subsidiary PacifiCorp to pay $70 million in punitive damages to 17 homeowners negatively impacted by wildfires that afflicted Oregon in 2020.[6]

In October 2024, Berkshire Hathaway purchased the remaining 8% stake they did not already own from the family Walter Scott Jr. following his death three years prior.[7][8]

  1. ^ "Berkshire Hathaway Energy: Operating revenue 2021".
  2. ^ a b "Financial filing" (PDF). www.berkshirehathawayenergyco.com. 2012. Archived from the original (PDF) on 15 December 2017. Retrieved 7 July 2017.
  3. ^ News, Bloomberg (26 October 1999). "Berkshire Hathaway and Others Plan to Buy MidAmerican Energy". The New York Times – via NYTimes.com. {{cite news}}: |last= has generic name (help)
  4. ^ a b Conrad, Roger. "Berkshire Utilities' Next Big Utility Bite". Forbes. Retrieved 19 August 2020.
  5. ^ "Buffett's MidAmerican Energy adopts Berkshire name". Reuters. 30 April 2014.
  6. ^ "Oregon jury: PacifiCorp must pay punitive damages for fires, plus award that could reach billions". AP NEWS. 14 June 2023. Retrieved 17 June 2023.
  7. ^ "Warren Buffett Buys Rest of Berkshire Hathaway's Utilities, but Investors Must Guess at the Price". Associated Press. Retrieved 6 October 2024.
  8. ^ "Berkshire CEO-designate Abel sells stake in energy company he led for $870 million". CNBC. 6 August 2022.