California utility adopts new budget plan
The Los Angeles Department of Water & Power (LADWP) has announced the adoption of a new annual budget, which will have the utility power company investing a large amount of money into energy efficiency. The LADWP is the nation’s largest public utility company, a status that gives it a fair amount of clout and attention. The adoption of the energy budget plan is being considered a major step forward in terms of energy efficiency and the company believes that it could bring serious financial benefits to the state.
Company cites consumer demand for adoption of new budget
According to the new budget, approximately $128 million will be diverted to energy efficiency methods and the adoption of new technologies. The utility expects that the adoption of these methods and technologies will contribute to reducing the cost of energy in California by 15% by 2020. The utility claims that the move is in response to the increasing demand from its customers who are looking for cleaner sources of energy and more affordable options.
Energy efficiency gaining momentum in California
Alternative energy and efficiency have long been popular issues in California, but have only recently managed to gain enough momentum to make serious progress. The support shown by LADWP may indicate that these issues have finally gained enough attention from the public to make large companies and organizations take action. If this trend continues, the state may be able to provide significant savings to citizens, which could hasten the adoption of alternative energy and help the state’s economy recover.
Company believes new budgetary focus can help it compete with others
The LADWP has been working to keep up with other utilities companies that have been promoting alternative energy and efficiency for some time but has been unable maintain pace with its competitors. By adopting this new budget plan, the LADWP believes that it can finally catch up to other utilities companies and begin meeting the demands of consumers in the state.