Buffett's Oregon Fire Costs Grow as He Sours on Utility Sector.

Berkshire Hathaway Inc.'s PacifiCorp has been ordered to pay an additional $29.3 million in damages for the 2020 Labor Day fires in Oregon. This comes after Chairman Warren Buffett expressed concerns about investing in western US utilities. The verdict was reached in the second of three trials to determine the total amount PacifiCorp will have to pay for the destruction caused by the fires. PacifiCorp is facing significant costs, including a $1.9 billion probable loss from wildfires in 2023 and claims totaling about $8 billion in Oregon and California. In his annual letter to shareholders, Buffett referred to Berkshire Hathaway Energy, which includes PacifiCorp, as an "even more severe earnings disappointment" than the conglomerate's railway business. PacifiCorp has settled some claims and plans to appeal the liability verdict. Similar lawsuits are pending against other utilities in Hawaii, Colorado, and Texas. [Extracted from the article]