Siemens, ABB lead Euro push to secure US power grid upgrade deals
"We expect this week to put together a package we can offer the utility companies to repair and upgrade their transmission systems," Tom Garret, of Siemens' Power Transmission and Distribution Group, told the newspaper.
ABB said: "We are ready to act and stand by with our portfolio. We can provide the technology that is needed to improve the capacity of the power grid."
The cost of updating the US's power grid in the next 10 years has been estimated at up to 56 bln usd, according to the Edison Electric Institute, which represents US electricity producers.
Siemens, which has been pushing its way into the US market in the past few years, estimates it has the capacity to supply about half of the volume required to renew the grid, the newspaper added.
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Extreme weather events such as storms, wildfires and drought are becoming more common in the United States. Consumer power use is expected to hit all-time highs this summer, which could strain electric grids at a time when federal agencies are warning the weather could pose reliability issues.
Utilities are warning of supply constraints for equipment, which could hamper efforts to restore power during outages. They are also having a…
