Edison CEO Ted Craver Says Innovation Key to Growth
As chairman, president and chief executive of one of the nation’s largest electric power companies, Ted Craver is in high demand.
Taking time away from the day-to-day bustle to reflect on the big picture is not always easy, the head of Edison International admits, but it is essential. Recently, as he prepared to head to Scottsdale, Arizona, to meet with industry peers at the Edison Electric Institute, Craver took some time to talk to Inside Edison about the big picture.
“Our industry is being impacted by unprecedented technological advancements and new competitors,” Craver said from his office at the company’s Rosemead headquarters in the San Gabriel Valley. “I can't conceive of anything more dangerous than for us to think we are protected from competition; to do so will be at our peril. Our success lies in a new era, not in the past.”
Craver is the immediate-past chairman of EEI and is currently on its executive committee. During the group’s January meeting, the association awarded him with the Distinguished Leadership Award.
“Ted is a visionary leader,” EEI President Tom Kuhn said. “His steady and determined leadership truly has helped guide our industry as it undergoes a major transformation.”
As Craver accepted the award, he took the opportunity to reflect on some major milestones and offered perspective on what lies ahead for Edison International and the industry.
“The last few months have been an incredibly busy period,” he said. “California increased the target for renewable power to 50 percent of delivered energy by 2030. This recently enacted law is aligned with our plans for building the clean energy grid of the future, but getting there will take a lot of work, commitment and leadership.”
Southern California Edison’s plan is formally called the Distribution Resources Plan, a proposal that identifies a variety of distributed energy resources, such as rooftop solar, battery storage and electric vehicle charging. It also looks at how to modernize and upgrade the distribution system to integrate and encourage these new resources.
The power system of the future will accommodate two-way power flow, with customers consuming electricity supplied by SCE and producing their own as well.
“At Edison, we believe it is our responsibility — and our opportunity — to help devise the solutions that support the move to a low-carbon and prosperous economy that the people of California want,” he said.