Edison to Pay Billions to Boost Electric Grid

The Los Angeles Times reported that Southern California Edison plans to spend $12 billion over the next three years to modernize the electric grid. Edison International Chief Executive Ted Craver said in a speech Tuesday the decision is due to solar rooftops and other technology innovations. Most of the $4 billion that will be spent each year will be used to upgrade wiring systems and utility poles. See the Los Angeles Business Journal’s related coverage here.