NEW YORK (CNN/Money) -
Berkshire Hathaway Inc. is willing to invest more money in the U.S. energy sector than the $10 billion to $15 billion previously discussed, according to The Wall Street Journal Wednesday.
At a conference of utility commissioners from Western states, Warren Buffett said he would invest in power-transmission lines and undertake other efforts to improve electricity reliability after the PacifiCorp deal closes, according to the report.
Berkshire (Research) plans to buy U.S. utility PacifiCorp from Britain's Scottish Power PLC for $5.1 billion, the paper said.
But according to the Journal, Buffett said he sees more opportunities in the utilities industry, including nuclear power.
"We'll put every dime into the business that is needed -- and it'll need a lot," he said.
"The bigger, the better," he said. "It's better to do a $10 billion deal than 10 $1 billion deals."
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