WASHINGTON, Dec 15 (Reuters) - The
Federal Energy Regulatory Commission on Thursday approved a bid by a
unit of Berkshire Hathaway Inc. (BRKa.N:
Quote,
Profile,
Research) (BRKb.N:
Quote,
Profile,
Research) to buy the PacifiCorp utility from Britain's Scottish
Power Plc (SPW.L:
Quote,
Profile,
Research) for $5.1 billion.
MidAmerican Energy, the utility arm of
billionaire investor Warren Buffett's Berkshire Hathaway, agreed in May
to buy Portland, Oregon-based PacifiCorp from Scottish Power for $5.1
billion, plus the assumption of more than $4 billion in debt.
FERC Chairman Joseph Kelliher said
there was no overlap between the service territories of MidAmerican and
PacifiCorp.
"It's a very straightforward matter to
conclude there is no harm to competition," Kelliher said.
MidAmerican, based in Des Moines, Iowa,
will gain power plants and add 1.6 million customers in six western
states, increasing its customer base to 6.6 million.
The merger should spur needed
investment in PacifiCorp's transmission grid because of MidAmerican's
access to Berkshire's capital, FERC Commissioner Suedeen Kelly said.