Commodities and Futures News

White House announces $13 billion in funding to modernize power grids

2022.11.18 06:50



© Reuters. FILE PHOTO: A view of windmills and power lines, as California’s grid operator urged the state’s 40 million people to ratchet down the use of electricity in homes and businesses as a wave of extreme heat settled over much of the state, near Tracy, Califor

(Reuters) – The White House announced through the U.S. Department of Energy (DOE) on Friday $13 billion in new financing for the expansion and modernization of the country’s electric grid.

President Joe Biden’s Bipartisan Infrastructure Law provides $10.5 billion to improve power systems against growing threats like extreme weather and climate change, the DOE said, and a further $2.5 billion to help build new transmission lines.



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