Financial Strength

We are excellent stewards of our substantial financial resources. Backed by Berkshire Hathaway Inc., we invest in hard assets and focus on long-term opportunities that will contribute to the future strength of the company.

High Quality, Diversified Portfolio

Nearly 90% of our operating income comes from rate-regulated businesses. Our portfolio is well-diversified. Our portfolio of energy businesses provides significant geographic, regulatory and resource diversity with regulated utility operations in England, Canada, and 11 Western and Midwestern states. Our 16,400 miles of gas pipelines reach from Texas to Michigan and from Wyoming to California. No single state provided more than 19% of energy operating revenue in 2018. Our geographic scope limits exposure to the impacts of weather, local economies, regulation and natural disasters. Lenders and credit rating agencies view this favorably, as it improves the predictability of financial results and reduces business risk.

Revenue Diversification
Revenue Diversification

Strong Credit Ratings

All of our regulated businesses have credit ratings of A/A3 or better, as measured by Standard & Poor’s Investors Service and Moody’s, respectively.

When it's necessary to raise capital, our strong credit ratings help us do so on favorable terms.

Berkshire Hathaway Ownership

Our ownership structure brings value to our customers, as we have no dividend requirement and can invest our profits back into our people and businesses.