MidAmerican Energy Holdings Company

In 1971, CalEnergy Company, Inc. was established as a developer of geothermal power production facilities in North America. CalEnergy focused on geothermal development in the United States in the 1980s, and in 1992, new management modified company strategy to include additional energy sources and to encompass the emerging global marketplace.

In 1996, as part of its long-range strategy to position itself for a deregulated world energy market, CalEnergy acquired Northern Electric, a major provider of retail gas and electricity services in the United Kingdom. CalEnergy continued this strategy in 1998 with the acquisition of MidAmerican Energy, a successful regional retail energy provider in the United States. The company was reorganized as MidAmerican Energy Holdings Company in March 1999.

In March 2000, with the acquisition of MidAmerican by an investor group, the company became a privately owned global energy provider positioned for international competition and growth. The strength and experience of MidAmerican and its subsidiaries in the production, distribution and sale of energy makes MidAmerican a natural leader in the global energy marketplace.

MidAmerican entered a new sector of the energy industry in 2002 with the acquisition of two strategically located interstate natural gas transmission pipelines in the United States, Kern River Gas Transmission Company and Northern Natural Gas Company. Kern River provides natural gas transportation from Wyoming to Southern California, while the Northern Natural Gas system spans from deep in the heart of Texas to markets in the Upper Midwest.

MidAmerican's acquisition of PacifiCorp in March 2006 added more than 8,400 megawatts of generating capability from coal, hydro, wind, natural gas-fueled and geothermal resources to the company's energy portfolio. PacifiCorp operates as Pacific Power in Oregon, Washington and California; and as Rocky Mountain Power in Wyoming, Utah and Idaho.