Trump Administration Cancels $600M California Grid Upgrade Plan
The Trump administration has announced plans to cancel billions in energy project funding, including a $600 million grant for an initiative to enhance electric transmission lines in California. The move comes after a review of projects to ensure they align with the administration's policies and financial viability.
The California Energy Commission, Southern California Edison, and PG&E Corporation were partners in the project, which aimed to improve 100 miles of transmission lines, enabling faster access to clean energy. However, following the U.S. government shutdown, the Department of Energy has decided to terminate financial awards supporting 223 projects, including this one, resulting in savings of about $7.6 billion.
Shares of Edison International, which operates Southern California Edison, fell as much as 2.3% following the news. Other canceled awards include grid improvements, carbon capture projects, and climate-friendly cement initiatives. Funding terminations can be appealed within 30 days, and some projects have already begun the appeal process. More than $3.1 billion of the canceled funding was awarded between Election Day and Inauguration Day.
The initiative to enhance electric transmission lines in California, with a $600 million federal grant, will have its funding cut. The Trump administration's review of projects aims to ensure they are financially sound and consistent with its policies. Organizations involved in the project and other affected parties have the opportunity to appeal the funding terminations within the next 30 days.
