Berkshire Hathaway Floats $8 Billion Plan to Fix Texas Grid (1)

Warren Buffett’s Berkshire Hathaway Inc. is proposing an $8.3 billion plan to help Texas avoid a repeat of February’s blackouts: Building a lot of new gas plants.

The conglomerate is asking state lawmakers to create a company that would add about 10 gigawatts of natural gas-fired power plants and gas storage for emergency supplies, according to a slide presentation seen by Bloomberg. The grid operator would control the plants and could call on them when supplies are tight to prevent blackouts like the one that left more than 4 million homes and businesses in the dark for days.

If ...