22:36:34 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Berkshire Hathaway CDR (CAD Hedged)
Symbol BRK
Shares Issued 5,600,000
Close 2024-02-21 C$ 31.26
Market Cap C$ 175,056,000
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Globe says Berkshire complains Alberta throttling grid

2024-02-22 07:03 ET - In the News

The Globe and Mail reports in its Thursday edition that the energy company owned by Warren Buffett's Berkshire Hathaway is accusing Alberta's grid operator of limiting electricity imports from Montana, which it says jeopardizes renewable power investment in the state and could cost Alberta consumers billions of dollars. The Globe's Jeffrey Jones writes that Berkshire Hathaway Energy Canada (BHEC) alleges that the Alberta Electric System Operator (AESO) has at times restricted power flowing through an interconnection that crosses the Canada-U.S. border in favour of electricity generated within the province. BHEC, which owns the 310-megawatt Montana-Alberta Tie Line, made the allegation in a complaint to the Alberta Utilities Commission. By engaging in what BHEC calls "discriminatory and anti-competitive behaviour," the AESO's practices could put Canada afoul of its obligations under the U.S.-Mexico-Canada Agreement, the company warns. It said the AESO has failed to allow necessary capacity additions to the grid that would alleviate constraints so imported power can better compete with domestic generation. Instead, it has curtailed imports from Montana, as well as British Columbia, to deal with system reliability concerns.

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