Austin, TX (WBAP/KLIF) – A group of wealthy investors with ties to billionaire Warren Buffett‘s Berkshire Hathaway Energy are reportedly pitching Texas state lawmakers in Austin on the idea of spending billions to boost the state’s emergency power capacity.
The proposal comes in the wake of the massive power outages across the state in February, triggered by an historic winter weather event.
The group would spend over $8 billion to build 10 new natural gas power plants in the state. In return. But, the idea comes with a price; lawmakers would establish a means by which Texans face additional charges on their energy bills to serve as a revenue stream for Berkshire.
According to the Texas Tribune, “representatives for Berkshire Hathaway Energy have been in Austin meeting with lawmakers and state leaders for the past week and a half, according to a person working closely on the issue. The proposed company, which would likely be known as the Texas Emergency Power Reserve.”
(Copyright 2021 WBAP/KLIF 24/7 News. This report contains material from the Dallas Morning News.)
