Berkshire Hathaway’s chairman sees rising utility costs as a natural outcome of increased demand and infrastructure investment.
Warren Buffett described higher energy prices as part of a functioning economic system during Berkshire Hathaway’s annual meeting. He noted that rising demand and investment in utilities lead to higher costs, benefiting infrastructure owners over time.
Buffett’s remarks contrasted with his cautious view on broader markets, which he compared to a casino. However, he characterized energy as a long-term, stable sector akin to a toll road with growing traffic.
The comments came as Berkshire, which owns major utility assets, held its first meeting under CEO Greg Abel. Abel separately addressed electricity demand trends, underscoring the sector’s expansion.