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...Deals in the utility sector, which is highly regulated, have slowed in recent years....
...more than three times larger than the 3GW of power used by data centres in Virginia — the world’s largest hub for such facilities — which source energy from Dominion Energy, the area’s largest electric utility...
...referring to meetings he and utilities bosses had held with her....
...If such costs are not approved by state public utility commissions, they eat into the profit margins as the utility earns nothing on its spending....
...utility industry veteran said, highlighting “a little bit of nastiness underlying the letter”....
...The problem is Berkshire’s model (which could be summed up in three words as “compound, compound, compound”) requires a stable of super investment-hungry businesses such as utilities to work....
Also in today’s newsletter, one solar company thinks it has what it takes to go public — despite a down market for the sector
...“The perceived trade off is that utility commissions lose control when large multinational utilities take over the local utility and that their ability to address things like service quality decreases....
...The debt inside the regulatory ringfence — which surrounds the core utility and means it has to abide by regulatory conditions — plunged to little over half of its face value....
...Its utilities provide power to 13mn customers and in Geico it owns one of the largest insurers in the country. Combs and Weschler were plucked from relative obscurity to help run this portfolio....
...Plus, Warren Buffett is sounding the alarm over wildfires and the utilities industry....
...President Joe Biden mentioned travel fees in his State of the Union address, saying his administration had proposed making “cable, travel, utilities and online ticket sellers tell you the total price up...
...Since 2022, Tesla has dropped the price for its Model Y sport utility vehicle by about $20,000....
...“We don’t want to throw good capital after bad capital,” Abel said of the utility business following the wildfires, repeating a comment Buffett made in his annual letter in February....
...One notable exception to that record is the utilities business, where Abel first cut his teeth at Berkshire....
...Berkshire shareholders are still waiting for the outcome of litigation over wildfires allegedly caused by the company’s PacifiCorp power utility in 2020 and 2022....
...In Elon’s mind, the decision about what a car looks like, how much it costs, and what utility it provides doesn’t really matter to people....
...Buffett has long heaped praise on Apple’s management team and in 2022 he described the company as one of Berkshire’s “four giants”, alongside its insurance operations, the BNSF railroad and its energy and utility...
...He recently won board seats at utility AEP and airline JetBlue, and continues to pressure genomics specialist Illumina after ousting some of its directors last year....
Takeover saga reveals a staggering lack of consensus on what Australian utility might be worth
...Its PacifiCorp electric utility, which has operations in Oregon and California, paid $631mn in settlements over wildfires last year....
...And utilities might be a bit *ahem* exposed....
...The US electric-vehicle maker most recently offered incentives worth as much as Rmb34,600 ($4,800) to lure Chinese consumers to purchase Model 3 sedans and Model Y sport utility vehicles....
...It operates the third-biggest gas utility by customer numbers, all based in Canada....
Australian investors fight off second major overseas takeover attempt of a local company in two months
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