Edison investing $12B on electric system over next three years
USA, Los Angeles: Southern California Edison, U.S. second-largest investor-owned utility, plans to invest $12 billion over the next three years to modernize the electric grid.
USA, Los Angeles: Southern California Edison, U.S. second-largest investor-owned utility, plans to invest $12 billion over the next three years to modernize the electric grid.
Most of the yearly $4 billion will be spent on upgrading transformers, electric poles, wires and cables, reports Los Angeles Times.
Roughly $240 million a year, or about 6%, will go toward new power generation, according to Ted Craver, chief executive of parent company Edison International.
“Our challenge is to provide electricity with little environmental impact without choking out economic growth and job creation,” Craver said, speaking in downtown Los Angeles at the State of L.A. Infrastructure Summit.
Source: Los Angeles Times
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