With momentum building in all six western states where the utility operates, Utah and Wyoming became the first two states to approve the proposed $9.4 billion purchase of PacifiCorp from ScottishPower by Iowa-based utility holding company MidAmerican Energy Holdings Co., part of billionaire Warren Buffett’s Berkshire Hathaway conglomerate. Utah regulators approved the deal last Friday, and Wyoming’s regulators earlier gave a verbal okay with a final written order to be issued next week, effective Feb. 10.

MidAmerican said it expects to close the purchase by the end of the first quarter this year.

The Utah Public Service Commission approved the acquisition, subject to a process allowing each state to select commitments contained in settlement agreements filed in the other states in which PacifiCorp operates. Proposed settlements are pending in all of the other states — California, Idaho, Oregon and Washington (see Power Market Today, Dec. 30, 2005).

Wyoming’s Pubic Service Commission issued its verbal order approving the sale Jan. 26, and under its process the final written order will be out next week.

In a written statement, MidAmerican President Greg Abel used the milestone as a chance to commend the stakeholders in the state regulatory proceedings, saying his company appreciated “the efforts of all parties to the proceedings working together to reach agreements that are fair and equitable to all stakeholders.”

The sale of PacifiCorp already has received federal approvals from the Federal Energy Regulatory Commission and the Nuclear Regulatory Commission, along with Justice Department clearance under the 1976 Hart-Scott-Rodino Antitrust Improvements Act.

©Copyright 2006Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.