Berkshire Hathaway Energy

What Berkshire Hathaway Energy does

Berkshire Hathaway Energy is a privately-held, wholly-owned diversified energy holding company subsidiary of Berkshire Hathaway Inc., headquartered in Des Moines, Iowa. Founded in 2000 through Berkshire's acquisition of MidAmerican Energy Holdings Company, the company operates 12+ major subsidiaries spanning regulated electricity and gas distribution, interstate natural gas pipelines, renewable and conventional generation, electric transmission, and real estate brokerage. It serves over 13 million customers and end-users across 11 Western and Midwestern U.S. states, Northern England, and Alberta, Canada, with operations including PacifiCorp (2.1M customers, 11,900 MW owned generation), MidAmerican Energy Company (1.6M customers, 12,100 MW owned and contracted capacity, ~7,800 MW wind), NV Energy (1.4M electricity customers), Northern Powergrid (4M homes/businesses), Northern Natural Gas (the largest U.S. interstate gas pipeline at 14,100 miles), BHE GT&S, Kern River, BHE Renewables, AltaLink, BHE U.S. Transmission, and HomeServices of America (~35,000 agents across 770 offices in 35 states plus D.C., with $139B sales volume through 2025).

The company's technology and infrastructure base encompasses an all-of-the-above generation portfolio — coal, natural gas, wind, solar, hydro, nuclear, geothermal, and biomass — with approximately 56% of owned and contracted generating capacity from renewable and noncarbon sources at year-end 2025. The BHE Pipeline Group operates roughly 21,000 miles of interstate natural gas pipeline transporting ~15% of all U.S. natural gas consumed; the electric grid footprint includes 67,700 miles of PacifiCorp distribution, 17,500 miles of PacifiCorp transmission, 13,400 km of AltaLink transmission, and joint-venture transmission assets such as the Cross-Tie 500-kV line and Electric Transmission Texas. The company has invested ~$8.6 billion in solar (Topaz, Solar Star totaling 1,167 MW), is developing TerraLithium direct lithium extraction from geothermal brine with Occidental, and targets net zero greenhouse gas emissions by 2050 with coal generation exit by 2049.

BHE's revenue model is dominated by rate-regulated utility returns (~80% of 2025 adjusted earnings from investment-grade regulated subsidiaries), supplemented by transaction-fee natural gas transportation, wholesale renewable energy sales under long-term PPAs, and HomeServices real estate brokerage/ mortgage/title fees. Distribution is direct via owned regulated infrastructure across multiple jurisdictions, and pricing is administratively set through regulatory rate proceedings (e.g., PacifiCorp 11.4 cents/kWh residential, 19% below the IOU national average; MidAmerican Iowa electric rates 44% below national average). The privately-held ownership structure under Berkshire Hathaway enables 100% reinvestment of net income without dividend requirements and supports investment-grade credit ratings favorable to capital raising.

Name

Berkshire Hathaway Energy

Legal name

Berkshire Hathaway Energy

Website

https://brkenergy.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Berkshire Hathaway Energy is a privately-held diversified energy holding company and wholly-owned subsidiary of Berkshire Hathaway Inc., operating regulated electric and gas utilities, interstate natural gas pipelines, and renewable generation across the U.S., U.K., and Canada, serving over 13 million customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Others

Revenue model

1. Regulated Utility Operations: Rate-regulated electricity and natural gas delivery services. Returns on equity are determined through regulatory proceedings. In 2025, approximately 80% of adjusted earnings on common shares was from investment-grade regulated subsidiaries.
2. Natural Gas Transportation: Transportation of natural gas through interstate pipeline systems for utilities, producers, energy marketing companies and industrial end users.
3. Wholesale Energy Generation: Generation and sale of electricity to wholesale market and under long-term power agreements through BHE Renewables.
4. Real Estate Services: HomeServices of America provides brokerage, mortgage, insurance, and title services through integrated platform. $139 billion sales volume through December 2025, 216,200 transactions, $8.1 billion mortgage volume.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Berkshire Hathaway Energy is a diversified holding company that owns and operates rate-regulated electric utilities, interstate natural gas pipelines, electric transmission assets, renewable energy generation, and a real estate brokerage platform. It delivers electricity and natural gas service to over 13 million customers and end-users across 11 U.S. states, Great Britain, and Alberta, Canada, through subsidiaries including PacifiCorp, MidAmerican Energy Company, NV Energy, Northern Powergrid, Northern Natural Gas, BHE GT&S, Kern River Gas Transmission, BHE Renewables, AltaLink, and HomeServices of America. Approximately 56% of its owned and contracted generating capacity comes from renewable and noncarbon sources.

Product overview

Berkshire Hathaway Energy is a diversified energy company operating as a holding company with multiple subsidiary businesses across electricity generation, transmission, and distribution, as well as natural gas pipelines and real estate services. The company's energy portfolio includes renewable generation (wind, solar, hydroelectric, geothermal) representing approximately 56% of owned and contracted generating capacity, alongside natural gas and coal assets. Key subsidiaries include PacifiCorp, MidAmerican Energy Company, NV Energy, Northern Powergrid (UK), Northern Natural Gas, BHE GT&S, Kern River Gas Transmission, BHE Renewables, AltaLink (Canada), BHE U.S. Transmission, and HomeServices of America. The company supports an all-of-the-above energy strategy with plans to achieve net zero greenhouse gas emissions by 2050 and cease coal generation by 2049.

Differentiator

Problem solved

Functional benefit

Brands

• OnePoint (HomeServices): Integrated real estate services solution connecting brokerage, mortgage, insurance, and title into one team
• Topaz Solar Farms
• Solar Star Facilities
• CARES (MidAmerican Energy)
• Linked to our Communities
• NVEnergize

Products and services

• PacifiCorp Regulated Electric Utility Service Rate-regulated electric utility service to 2.1 million customers across six western states (Oregon, Washington, California, Utah, Idaho, Wyoming) through Pacific Power and Rocky Mountain Power business units, with 11,900 megawatts of owned generation capacity and 67,700 miles of distribution lines plus 17,500 miles of transmission lines.
• MidAmerican Energy Company Regulated Utility Service Rate-regulated electric and natural gas utility service to 1.6 million customers in Iowa, Illinois, South Dakota and Nebraska, with over 12,100 megawatts of owned and contracted generation capacity including approximately 7,800 MW of owned wind generation across more than 3,500 turbines in Iowa. Iowa electric rates are 44% below the national average.
• NV Energy Regulated Utility Service Rate-regulated electric and natural gas utility service to approximately 1.4 million electricity customers and 185,000 natural gas customers in Nevada, with a generation portfolio including natural gas and renewable energy sources.
• Northern Powergrid Electricity Distribution Electricity distribution network serving 4 million homes and businesses across the North East, Yorkshire and northern Lincolnshire in England, delivered as a regulated distribution network operator.
• Northern Natural Gas Pipeline Transportation

Quantifiable outcome

• $1.2 billion in customer savings from Western Energy Imbalance Market participation
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• OccidentalcoreStrategic or Co-development Partner · 1 January 2024Joint venture for lithium production research using TerraLithium technology for direct lithium extraction from geothermal brine in California's Imperial Valley. Project in demonstration phase with potential commercialization decision in 2026.
• Precision Castparts Corp. (PCC)coreStrategic or Co-development Partner · 1 January 2023BHE Renewables and PCC broke ground on one of the world's largest solar and battery storage microgrids at PCC's TIMET titanium facility in Jackson County, West Virginia. The 2,000-acre site will power the facility with 106-megawatt solar and 20-megawatt battery storage.
• Bat Conservation InternationalminorStrategic or Co-development PartnerNorthern Natural Gas partnered with Bat Conservation International to construct and install bat houses at facilities near Redfield, Iowa, and Ottawa County, Kansas for bat population research and conservation.
• American Electric Power CompanycoreStrategic or Co-development PartnerBHE U.S. Transmission, along with subsidiaries of American Electric Power Company, indirectly owns 50% interest in Electric Transmission Texas, which owns and operates 2,100 miles of electric transmission lines in Texas.
• Pinnacle WestcoreStrategic or Co-development PartnerThrough TransCanyon joint venture, BHE U.S. Transmission and Pinnacle West are developing the 214-mile, 500-kV Cross-Tie Transmission Line connecting Utah and Nevada.
• Grid Assurance, LLCminorStrategic or Co-development PartnerBHE U.S. Transmission has a 20% interest in Grid Assurance, LLC, a grid recovery solution to help improve the resilience of the electric grid.

Scale indicators15 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Kinder Morgan: Largest U.S. natural gas pipeline operator. Most direct comparable to BHE Pipeline Group's ~21,000-mile, 15%-of-U.S.-consumption natural gas franchise.
• American Electric Power: One of the largest U.S. electric transmission owners, with operations across 11 states. Directly comparable to BHE's transmission JV (Electric Transmission Texas) and vertically integrated regulated utility model.
• National Grid: U.K. and U.S. regulated transmission and distribution operator. Closest peer to BHE's Northern Powergrid business and to BHE's rate-regulated T&D model more broadly.
• Sempra: Energy infrastructure holding company with regulated utilities (SDG&E, SoCalGas) and LNG export terminals. Comparable to BHE's combined regulated utility + interstate gas pipeline exposure.
• Duke Energy: Largest U.S. regulated electric utility serving ~8.4 million customers across the Carolinas, Florida, and the Midwest. Comparable to BHE as a diversified, rate-regulated utility with significant renewables and natural gas exposure.
• NextEra Energy: Largest U.S. renewable energy generator (FPL + NextEra Energy Resources). Closest peer to BHE Renewables and to BHE's #1 regulated wind position, with similar transmission and renewables growth thesis.
• Xcel Energy: Regulated utility serving 8 U.S. states with leadership in wind generation. Highly comparable to BHE's diversified regulated utility profile and aggressive renewable transition strategy.
• Southern Company: Vertically integrated regulated utility serving ~9 million customers across Georgia, Alabama, and Mississippi. Comparable in scale, regulated rate base, and growing renewables portfolio.
• WEC Energy Group: Midwestern regulated electric and gas utility serving ~4.6 million customers in Wisconsin, Illinois, Minnesota, and Michigan. Similar Midwestern regulated utility dynamics to BHE's MidAmerican Energy subsidiary.
• Dominion Energy: Vertically integrated regulated utility with significant natural gas transmission and storage. Comparable to BHE's combined regulated utility and pipeline footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bhenergyco
• Facebookfacebook.com/midamerican-energy-company-254494964563629
• LinkedInlinkedin.com/company/berkshire-hathaway-energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries12 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Berkshire Hathaway Energy