White House Urges More Investment In US Electric Grid

Law360, New York (August 12, 2013, 2:49 PM EDT) -- The Obama administration on Monday called for additional investment to upgrade the aging U.S. electric grid in order to protect it from power outages caused by natural disasters, saying weather-related outages have cost the U.S. economy between $18 billion and $33 billion annually over the last decade.

Roughly 679 power outages, each affecting at least 50,000 customers, occurred due to weather events between 2003 and 2012, and the aging nature of the grid has made it more susceptible to outages caused by severe weather, according to...
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