Texas Energy Companies Against Berkshire Hathaway’s $8B Backup Power Plan
An $8.3 billion idea by Warren Buffett’s Berkshire Hathaway Energy to build 10 new natural gas power plants across the state for emergency use turned into formal legislation on April 15, when the proposal was introduced during a state Senate committee hearing.
Berkshire executives, who pitched the plan to lawmakers in the weeks following February’s deadly winter storm, said revenue for the massive project would come through an additional monthly charge on Texans’ power bills.
Republican state Sen. Charles Schwertner, R-Georgetown, put forward the legislation, saying it would create “a backstop” of “emergency supply” that would only be tapped when demand on the power grid is so great that the state may be forced into electricity blackouts.
Berkshire Hathaway s backup power plan for Texas opposed by energy firms texastribune.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texastribune.org Daily Mail and Mail on Sunday newspapers.
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There is much to emulate in Warren Buffett’s life and investment philosophy. If you want to learn a ton about what it takes to be a successful investor, just read one of
Berkshire Hathaway’s (NYSE:BRK-A)(NYSE:BRK-B) Annual Shareholder Letters. They are chock-full of thoughtful commentary on stock markets, past and present. The wisdom Warren Buffett imparts is generally timeless, easy to digest, and useful for all investors.
Emulate Warren Buffett by following his strategies
In Berkshire Hathaway’s 2020 shareholder letter, Mr. Buffett remarked on the power of owning “productive assets.” Warren Buffett particularly highlighted two asset-rich businesses that he is particularly fond of today:
An aerial view of northbound Interstate 35 at Stassney Lane in South Austin after a severe snow storm in February that caused massive power outages. A new congressional bill would help Texas companies weatherize electricity infrastructure. Credit: Miguel Gutierrez Jr./The Texas Tribune
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In a rare but upbeat moment of bipartisanship, Republican U.S. Sen. John Cornyn and Democratic U.S. Rep. Eddie Bernice Johnson of Dallas rolled out a new bill Thursday they say will better prepare the state for future extreme weather.