(BRK.A), (BRK.B)
The Federal Energy Regulatory Commission last week voted to issue a notice of proposed rulemaking to revisit its rules and regulations implementing the Public Utility Regulatory Policies Act of 1978. In a release, Berkshire Hathaway Energy has stated that it supports the proposed rulemaking to modernize PURPA, as policy revisions will allow the company to provide additional value to its customers.
“We appreciate Chairman Chatterjee’s leadership and the thoughtful efforts of FERC and its staff in issuing this proposal,” said Pat Reiten, Berkshire Hathaway Energy senior vice president of government relations. “We look forward to reviewing the proposed rule and working with FERC and our state commissions to provide cost-effective, renewable resources to our customers.”
Berkshire Hathaway Energy notes that since PURPA was enacted, the energy industry has drastically changed, and PURPA’s regulations have led to unintended consequences resulting in above-market prices for certain energy contracts. As Berkshire Hathaway Energy acquires increasing amounts of renewable generation, the proposed reforms will provide greater opportunities to ensure customers receive the best energy prices.
© 2019 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.