Berkshire's Energy Holdings Are Worth More Than Most Stand-Alone Utilities. Here's the Math.

Berkshire Hathaway, a conglomerate with a diverse portfolio of businesses, includes the energy subsidiary Berkshire Hathaway Energy. This energy division, parent company to PacifiCorp, MidAmerican Energy, and NV Energy, serves over 13 million customers and generated $2.7 billion in pretax earnings and over $2 billion in after-tax profits during the first half of 2026.

While its revenue falls short compared to larger utilities like Duke Energy and Southern Company, Berkshire Hathaway Energy's growth potential is notable. CEO Greg Abel highlights AI data centers as a significant opportunity for the company, noting that energy is a critical input for these centers. Currently accounting for about 10% of Berkshire Hathaway's operating earnings, the energy division still represents a relatively small part of the conglomerate's overall profits.

However, it could potentially grow to have a more substantial impact in the future, making it a business to keep an eye on.