Manulife Investment Management

Money Moves

49% partner in Washington utility acquisition

Portland General Electric is buying PacifiCorp's Washington utility operations for $1.9 billion—the first major cross-state utility deal in the Pacific Northwest in decades. The deal, announced February 17, 2026, moves 140,000 customers, three power plants (805 megawatts), and 4,500 miles of transmission lines from Warren Buffett's Berkshire Hathaway to an Oregon-based utility partnering with Canadian infrastructure investors.

Updated May 29