Regulators OK Sale of NV Energy to Buffett

By: AP Email
By: AP Email

CARSON CITY, Nev. (AP) - Nevada utility regulators have given their stamp of approval for the sale of the state's largest electric utility to a company owned by billionaire Warren Buffett.

The Public Utilities Commission on Monday approved the $5.6 billion deal for Buffett's MidAmerican Energy to buy NV Energy Inc.

Commissioners adopted an order submitted last week by PUC Chairwoman Alaina Burtenshaw supporting the buyout and concluding it was in the public's interest.

The deal still requires approval by the Federal Energy Regulatory Commission, which could come later this week.

NV Energy has 2.4 million customers and is the parent company of Nevada Power Co. in Las Vegas and Sierra Pacific Power in northern Nevada. Sierra Pacific also provides natural gas to some customers.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 236123231