28 Feb '16, 4pm

@greentechmedia

Billionaire investor Warren Buffett says that renewable energy and efficiency are pushing utilities beyond a "sloppy" operational model and into a more competitive environment. In his annual letter to Berkshire Hathaway shareholders, Buffett outlined the risks posed by distributed generation to traditional power companies. Berkshire Hathaway, a multinational holding company worth nearly $200 billion, owns 10 energy companies, including three large electric utilities serving territories across 11 Midwestern and Western U.S. states. The business of electricity is entering a period of uncertainty, wrote Buffett. "In its electric utility business, our Berkshire Hathaway Energy (“BHE”) operates within a changing economic model. Historically, the survival of a local electric company did not depend on its efficiency. In fact, a 'sloppy' operation could do just fine financially," ...

Full article: http://www.greentechmedia.com/articles/read/warren-buffet...

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