"[Energy] was never in Warren's wheelhouse,'' Morningstar analyst Warren said. "There's probably some influence from Todd and Ted in there, some more confidence with the energy names now that he has more eyes to watch over them. Given his issue with COP in the past, he has got to be leaning more on Todd and Ted," he added. Buffett has long sought investments in industries that he considers cornerstones of the modern economy and bets on the U.S. economy, in particular. [...] Berkshire Hathaway Energy is owner of everything from utilities to gas pipelines to the $15 billion worth of solar and wind investments, which Cunningham said is the parent Berkshire's biggest commitment to any industry other than insurance.
Flight Delayed or Canceled? You Could Be Paid Up to $1,000 (NBC News)
“There are 660 million air travel segments a year that could have a problem,” said John Noel, Berkshire Hathaway Travel Protection president. “That’s our market potential.” AirCare is designed to fill a gap left by the $2.5 billion traditional travel insurance market, which most commonly offers to cover losses from trip cancellation and delay, lost baggage and medical emergencies.
Airport hosts national commercial production for Berkshire Hathaway Travel Protection (Sun Prairie Star)
Dane County Regional Airport (DCRA) announced today that the airport facility is featured in a national Berkshire Hathaway Travel Protection (BHTP) commercial with the launch of their new travel insurance product line. [...] The commercial follows “Peter” during his airport experience, and demonstrates many of the AirCare product benefits such as: paying travelers when they encounter travel problems like: tarmac delays and lost baggage, missed connections, baggage delays, and flight delays.
AltaLink CEO reveals past bids by Atco, possible motive for ads (Globe and Mail)
The local political soap opera surrounding Berkshire Hathaway Energy's impending purchase of Alberta power transmission company AltaLink continues...
Atco Ltd. made several attempts to acquire AltaLink LP in the years before Berkshire Hathaway Energy’s $3.2-billion winning bid, the chief executive officer of Alberta’s largest transmission provider revealed in an interview Monday. [...] In an interview on Monday, AltaLink chief executive Scott Thon said Atco had made several attempts in the past decade to buy his company – which transmits electricity to 85 per cent of Albertans. He suggested that Atco’s push to stir debate about the sale – and the consequences of foreign ownership of critical infrastructure – isn’t as altruistic at Atco chairwoman and chief executive Nancy Southern has made out. Mr. Thon said Atco has had a long-standing commercial interest in AltaLink. [...] If Atco had at any point acquired AltaLink, “they would have virtual 100-per-cent control of transmission in Alberta,” he said. “There would be less competition if Atco had acquired AltaLink, and I think competition is good for consumers.” [...] Mr. Thon said he was “shocked and disappointed” by the anonymous ads from Atco, which he said were designed “to incite the public to do something that really is based on misinformation.”
Major 3-year deal sealed by Berkshire with PDvsa (IPS Group)
Berkshire Hathaway has taken a 40 percent share of top-10 energy account PDvsa on a three-year basis, The Insurance Insider reveals, giving credence to insurers' fears that it will begin writing energy business direct. In an article by the Insurance Insider, they state, “Sources said that at the main 1 July renewal for the Venezuelan state-owned energy company the London order was halved as Berkshire and an unidentified Mexican insurer took half of the programme across both upstream and downstream risks." [...] The PDvsa story has intrigued the energy market for over a year now and the Berkshire deal is the latest twist. The Insurance Insider concludes, “During this period, PDvsa has made a number of abortive attempts to place its programme, switched brokers numerous times and chosen, after some toing and froing, not to submit a claim for a $300mn loss on a refinery.”
BNSF train derails near Worden; 13 cars off tracks (Helena Independent Record)
A BNSF Railway spokesman says the company is investigating the cause of a coal train derailment in which 13 cars came off the tracks in southeastern Montana. BNSF spokesman Matt Jones said the loaded train originated at the Decker Mine in Bighorn County. It was en route to Superior, Wisconsin, when the cars derailed about 35 miles east of Billings at about 7:45 p.m. Thursday.
Ruling is victory for solar energy (Des Moines Register)
A split Iowa Supreme Court ruled Friday that Eagle Point Solar would not violate Iowa law by selling electricity to the city of Dubuque that the company generates through a solar panel installation on the roof of a city building. Industry leaders praise such arrangements, called power purchase agreements, as a key to developing more solar energy. [...] Iowa's main public utility companies, Alliant Energy and MidAmerican Energy, have fought power purchase agreements, arguing that state regulations give them exclusive rights to sell energy in defined territories.
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