Electric utilities once were considered safe, boring investments, prized for their dividends and slow, steady growth. But last month, famed value-investor Warren Buffett warned the "specter of zero profitability or even bankruptcy" loomed over utilities in some Western states. Credit: Jordan Vonderhaar/Bloomberg
(Bloomberg) — Massive wildfires sparked by power lines used to be a California problem, one many utility executives considered safely confined to the Golden State.
This is no longer the case as Texas officials on March 7, 2024, blamed the state's largest-ever fire on electrical lines sparking in dry brush, fed by blasting winds into a million-acre inferno. The same combination of high winds, power lines and dry grass last year may have been responsible for razing the seaside town of Lahaina on Maui, a place once considered too lush to burn. Fast-moving fires blamed on utility equipment leveled homes in Colorado in 2021 and Oregon in 2020.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
