Berkshire Hathaway Energy (previously known as MidAmerican Energy Holdings Company until 2014) is a holding company which is 90% owned by Berkshire Hathaway. Berkshire has owned a controlling stake since 1999. [2]
Gregory E. Abel serves as chairman, chairman and CEO. David L. Sokol was CEO until 2008.
Until 2014, it is known as MidAmerican Energy Holdings Company from its roots as MidAmerican Energy Company ; it took on the name of its parent to reflect the diversity of its portfolio. [3]
In July 2017, the company reached an agreement to acquire Oncor Electric Delivery Co for $ 9 billion, rescuing it from bankruptcy. Completion of that deal, which Berkshire expects in 4th quarter 2017, will require approval from the Bankruptcy Court and the Public Utility Commission of Texas. [4]
Subsidiaries & Investments
Berkshire Hathaway Energy owns the following companies:
- MidAmerican Energy Company
- MidAmerican Renewables [5] ( Renewable Energy / Wind Engergy )
- PacifiCorp for $ 9.4 billion in 2005 [6]
- Northern Powergrid (formerly CE Electric UK)
- Integrated Utility Services UK
- CalEnergy Generation [7]
- Kern River Gas Transmission Company [8]
- Kern River Pipeline
- Northern Natural Gas Company (Omaha) [9]
- HomeServices of America (Real Estate, in 28 states)
- BYD Company (10% of outstanding shares)
- NV Energy (most of Nevada )
- Metalogic Inspections Services [10] (Oil and Gas, Power Generation , Manufacturing, Pipeline, Services)
- Intelligent Energy Solutions [11] ( Solar Pumps , Solar Panels , and Biomass Boilers )
- AltaLink (Electric Utility in Canada) for C $ 3.24 billion in 2014 [12]
- Oncor Electric Delivery Company LLC. (announced July 2017) [13]
References
- ^ Jump up to:a b c d ehttps://www.berkshirehathawayenergyco.com/assets/upload/financial-filing/BHE%2012.31.16%20Form%2010-K_FINAL.pdf
- Jump up^ News, Bloomberg (26 October 1999). “Berkshire Hathaway and Others Plan to Buy MidAmerican Energy” – via NYTimes.com.
- Jump up^ “Buffett ‘s MidAmerican Energy adopts Berkshire name” . April 30, 2014 – via Reuters.
- Jump up^ English, Jonathan Stempel and David. “Buffett bets big on power infrastructure with $ 9 billion deal oncor” .
- Jump up^ “Wind Energy” . midamericanenergy.com . Retrieved 2017-06-30 .
- Jump up^ http://www.marketwatch.com/story/buffetts-midamerican-to-buy-pacificorp-for-94b
- Jump up^ “BHE Renewables” . www.bherenewables.com . Retrieved 2017-06-30 .
- Jump up^ “Kern River Gas Transmission Company: Berkshire Hathaway Energy” . www.berkshirehathawayenergyco.com . Retrieved 2017-06-30 .
- Jump up^ “Northern Natural Gas” . www.northernnaturalgas.com . Retrieved 2017-07-07 .
- Jump up^ “Home – Metalogic Inspection Services” . Metalogic Inspection Services . Retrieved 2017-06-30 .
- Jump up^ “Consultancy, Servicing, Maintenance and Fault Finding | Heat Pumps, Solar Panels & Biomass Boilers – Intelligent Energy Solutions” . www.intelligentenergysolutions.com . Retrieved 2017-06-30 .
- Jump up^ http://www.marketwired.com/press-release/berkshire-hathaway-energy-purchases-snc-lavalins-equity-in-altalink-1905678.htm
- Jump up^ CNBC (2017-07-07). “Berkshire Hathaway Energy to buy Oncor” . Retrieved 2017-07-07 .
