Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said Energy Future Holdings Corp. will “almost certainly” file for bankruptcy this year unless natural gas prices soar, Bloomberg News reported on Saturday. Berkshire suffered a pretax loss of $873 million on its $2 billion Energy Future debt investment and exited the holding last year, Buffett, 83, said in his annual letter to shareholders today. The billionaire said making the wager without first consulting Vice Chairman Charles Munger was “a big mistake.” Energy Future was purchased in 2007 in the largest leveraged buyout in history, and ran into trouble as natural gas prices tumbled. The company is Texas’s largest electricity provider.
