Southern California Edison plans to spend $12 billion over the next three years to modernize the electric grid — costs that critics contend aren’t justified and are in part the result of the utility’s own mishaps.
The state’s second-largest investor-owned utility is spending the money as it moves to adjust to changes in technology from rooftop solar and other innovations, Ted Craver, chief executive of parent company Edison International, told the Los Angeles Area Chamber of Commerce this week.
Most of the yearly $4 billion will be spent on upgrading electric poles, transformers, wires and cables. Roughly $240 million a year, or about 6%, will go toward new power generation, he said.
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