Nevadans side with Buffett's Berkshire in energy spat with Adelson

[Eugene]

Source: Reuters

U.S. NOVEMBER 7, 2018 / 8:18 AM / UPDATED 26 MINUTES AGO

Nevadans side with Buffett's Berkshire in energy spat with Adelson

Trevor Hunnicutt
4 MIN READ

(Reuters) - Nevada voters on Tuesday blocked efforts supported by casino magnate Sheldon Adelson to open up the state’s electricity market, delivering welcome news to Warren Buffett’s Berkshire Hathaway Inc.

The two billionaires’ interests clashed in the Silver State desert over the cost and control of power for uses ranging from the neon lights on the Las Vegas Strip to equipment in the state’s precious metal mines.

A state constitutional amendment supported by Republican donor Adelson, chairman of Las Vegas Sands Corp, would have forced legislators to break up control over much of Nevada’s electricity that is effectively held by Berkshire Hathaway unit, NV Energy. It would have allowed customers to choose their own power provider by 2023. The measure was defeated 2-to-1, according to Nevada’s current vote count.

The measure to open up Nevada's power market, known as Question 3, became one of the more costly during an election season that wound up on Tuesday with Democrats wresting control of the U.S. House of Representatives from Republicans.

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Read more: https://www.reuters.com/article/us-usa-election-nevada/nevadans-side-with-buffetts-berkshire-in-energy-spat-with-adelson-idUSKCN1NC1SQ

[NorCen_CT]

1. Isn't what Adelson wanted almost exactly what happened in CA with Enron?

I'm still mad that Enron almost single-handedly were the cause of the recall of Gray Davis (Darrell Issa also played a BIG part).