(Lily Jamali/Marketplace)īut Southern California Edison and PG&E - the state’s largest utilities - told Marketplace they aren’t keeping lists of the exempt equipment that’s over 80 years old. ![]() If they see something that needs repair, we will document it and schedule it for repair,” said Raymond Fugere, a principal manager with SoCal Edison.Ī newly refurbished utility pole wrapped in fire-resistant material in Acton. PG&E and SoCal Edison say they don’t factor age into their equipment inspections. Like that 97-year-old hook just outside Paradise. In an email, the advisory board’s former chairwoman, Marcie Edwards, told Marketplace this old electrical infrastructure is some of the state’s riskiest. The order is 80 years old and says it doesn’t necessarily apply to equipment built before it took effect. They’ve zeroed in on a regulation called General Order 95, which governs how California’s power lines are built and maintained. The wildfire safety advisory board is pushing for more, recommending that utilities start tracking their oldest equipment. In the fall, contractors were breaking ground in Acton, re-anchoring a pole that suspends power lines above a highway overpass. Meanwhile, the utilities have been making upgrades to their systems. In a law passed months after the Camp Fire, California created a wildfire safety division within the state Public Utilities Commission and appointed a board of experts to advise it. Then-CEO Bill Johnson spoke at the sentencing hearing in 2020: “I wish there were some way to take back what happened or to take away the impact, the pain that these people have suffered. Pacific Gas and Electric, or PG&E, pleaded guilty to killing 84 people and starting the fire. It started when a century-old hook snapped, causing sparks to fall onto dry brush below. Here is a list of our partners who offer products that we have affiliate links for.Paradise is the Northern California town destroyed in the Camp Fire. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. Second, we also include links to advertisers’ offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers’ offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. Duke Energy, for example, acts not only as an energy service operator, but owns energy production units as well. While utilities can be subdivided into these and other sub-segments, many of the biggest utilities stocks are actually holding companies that own several subsidiary operations of one or more types. In some places, these utilities are provided by private for-profit companies. While some water and sewer utilities are publicly owned, this isn’t always the case. Similar to electricity transmitters, natural gas suppliers transmit natural gas across the country and/or supply straight to individual homes and businesses. Their rates and operations are subject to strict regulation. Energy service operators (ESOs) are public-facing utilities that provide power to consumers’ homes and businesses through individual meters. Distributors buy, sell and transmit electricity across the national grid, ensuring that it’s available for homes and businesses that need it. These are companies that produce electrical power through renewable or nonrenewable sources, including wind, solar, nuclear and hydroelectric. ![]() Among others, the utilities sector is typically composed of the following sub-sectors: As with any stock market sector, utilities stocks can be broken down into several industries and sub-sectors.
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