Nevada Upholds Buffett’s Utility Monopoly, Boosts Renewable Goal

Nevada voters rejected a measure to let customers choose their own electricity provider by 2023, preserving the near monopoly Warren Buffett’s NV Energy Inc. holds in the state.

The measure, backed by casino owner Sheldon Adelson, was defeated Nov. 6, according to the New York Times. It would have forced NV Energy, owned by Buffett’s Berkshire Hathaway Inc., to open its retail business to competition and potentially sell power plants.

The proposition triggered one of the most heavily financed political battles in the U.S. election cycle. The amount raised for it approached nearly $100 million, with a group backed by ...