← Back to Explore
ENTITY
🕰1 min read
🎵Wisdom Density:
Moderate
🧭6 concepts
👁 -- readers

NV Energy

NV Energy is a public utility providing gas and electricity to the vast majority of Nevada, including the massive energy sink of Las Vegas. It was acquired by MidAmerican Energy (now Berkshire Hathaway Energy) in 2013.

⚡ The 2013 Acquisition

  • The Deal: MidAmerican Energy purchased NV Energy for $5.6 billion in cash.
  • The Strategic Fit: The acquisition perfectly fit Berkshire's utility model: highly regulated, capital-intensive, essential infrastructure. It massively expanded MidAmerican's footprint into the American Southwest.
  • Renewable Pivot: At the time of acquisition, NV Energy was crucial to MidAmerican's growing dominance in the renewable energy sector, helping MidAmerican account for 7% of U.S. wind generation capacity.
  • Regulatory Model: The acquisition adhered to Berkshire's Social Compact—promising to reinvest heavily in Nevada's infrastructure in exchange for allowed regulatory returns.

🔗 Connections

📚 Historical Mentions & Citations (1)

Click a reference document below to expand and read the exact paragraph(s) containing this concept in the archive.

📜
2013 LetterExcerpt Available
▼
We completed two large acquisitions, spending almost $18 billion to purchase all of NV Energy and a major interest in H. J. Heinz. Both companies fit us well and will be prospering a century from now. NV Energy, purchased for $5.6 billion by MidAmerican Energy, our utility subsidiary, supplies electricity to about 88% of Nevada’s population. This acquisition fits nicely into our existing electric-utility operation and offers many possibilities for large investments in renewable energy. NV Energy will not be MidAmerican’s last major acquisition.
View Source Digest →