October 25, 2014
CARSON CITY, Nev. (AP) - NV Energy electricity customers could benefit from cost savings when the Nevada utility is sold to billionaire Warren Buffett.
Buffett's company, MidAmerican Energy, last week filed its official application with the state Public Service Commission to purchase NV Energy.
The Las Vegas Sun reports NV Energy officials say preliminary talks between the two companies suggest the sale could mean $30 million annual cost savings, though that figure is a rough estimate.
MidAmerican is owned by Buffet's Berkshire Hathaway Inc., which plans to pay $23.75 per share of stock. The NV Energy board of directors has approved the purchase, but the shareholders must still vote.
The Public Utilities Commission has tentatively set Dec. 2 for a hearing on the application.
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