In the wake of February’s winter storm, Warren Buffett’s Berkshire Hathaway is asking Texas lawmakers to approve a plan to add $8.3 billion worth of power plants.

In a March slideshow presentation, Berkshire has proposed adding about 10,000 megawatts of natural gas plants and emergency gas storage to the state grid operator, the Electric Reliability Council of Texas.

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Berkshire’s proposed company, called the Texas Emergency Power Reserve, and could be operational by winter 2023, according to the slides.

More than 100 people died as more than half of ERCOT’s power generation capacity was knocked offline as power was cut to millions of Texans amid frigid temperatures during last month’s freeze.

“We really want to make sure that this never happens again. So, we’re really wanting to partner with the state,” Chris Brown, chief executive officer of Berkshire Hathaway Energy Infrastructure Group, told Bloomberg News. “The proposal is simple: state residents should have a reliable source of backup power.”

The additional capacity from the proposed plants would help form a more robust power grid, providing enough energy that no customer would be without power for more than three hours.

The proposal, if approved by state regulators, would pay the company a 9.3 percent rate of return on investment, which would be covered by electricity customers.

The proposal would cost less than winterizing the state’s power generators or creating a so-called capacity market where generation units are paid to provide supplies in future years, according to Berkshire Hathaway.

The plan was first reported by the Dallas Morning News.

Andy DeVries, a utility analyst at CreditSights, told Bloomberg, “We see little to no chance of Texas approving that Buffett proposal.”