Warren Buffett and MidAmerican Energy working on a new international nuke partnership

MidAm to buy Constellation Energy

“MidAmerican produces energy from fuel sources including geothermal, natural gas, hydroelectric, nuclear, coal and wind. The Des Moines, Iowa-based company also supplies energy in the US and British consumer markets, with 6.7 million electricity and gas customers.

Constellation supplies electricity nationwide from diversified fuel types, including nuclear, coal, gas and renewable sources.

The Baltimore, Maryland-based company teamed up with French energy giant EDF in July 2007 UniStar Nuclear Energy, to operate new nuclear power plants in the United States…”

“…This deal also brings nuclear energy to Berkshire’s utility empire for the first time, an area where Buffett has professed great interest. Constellation operates a highly efficient fleet of plants and has plans to build several more. The merger effectively allies Berkshire with French nuclear giant Electricite de France—which owns 10 percent of Constellation—and its nuclear construction partner, French government-backed Areva. The pair has plans to build four advanced reactors in the US, and joining their interests to Buffett’s deep pockets could accelerate their development.”

French poised to snap up British Energy in £12.4bn deal

“…French energy giant EDF will table its long-awaited £12.4bn bid for British Energy this week, providing a huge cash windfall for the Government and kick-starting a massive rollout of new nuclear power stations…”

  • that's not encouraging at all

    because Buffett is going to have Obama’s ear for sure.

    We will have a huge fight on our hands trying to get a decent energy bill out of the next Congress, and I don’t think a President Obama would necessarily be on our side.

You need to signin or signup to post a comment.