Protests Arise as Warren Buffet Seeks to Profit from Recent Texas Power Blackouts

Protests Arise as Warren Buffet Seeks to Profit from Recent Texas Power Blackouts

Following the events of Winter Storm Uri, Warren Buffett’s Berkshire Hathaway proposed a plan that would allow for the company to finance the building of 10,000 megawatts of new, natural gas-fired generating capacity at a cost of $8 billion.  Berkshire Hathaway, being a company in business to generate profits to investors, proposes to make a profit from this enterprise as well. Its proposal would be for electricity consumers to reimburse it for the cost of building and operating the plants under a formula that would guarantee it would generate a seemingly reasonable 9.3 percent rate of return on the investment.

Michele Richmond, executive director with Texas Competitive Power Advocates, argues against the plan on behalf of the power generators of Texas in this Forbes article, written by David Blackmon.

Click here to read the Forbes Article

Texas Competitive Power Advocates (TCPA) Recommendations to Prevent Future Outage Events Like February 2021

TCPA is committed to working with state leadership, industry regulators and stakeholders who have a vested interest in mitigating the risks associated with extreme weather events. The events of the week of February 14 resulted from many factors, including loss of generating resources across all fuel types.
Click below for TCPA recommendations

TCPA Post-Event Recommendation – March 2021 FINAL