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San Fernando
Sunday, May 28, 2023


WADE DANIELS Staff Reporter The number of commercial electricity accounts in the San Fernando Valley rose 1.6 percent in May compared with the same month last year, an increase officials attributed to start-ups of high-technology and entertainment-industry firms. There were 42,004 active commercial electric accounts in the Valley in May, 680 more than a year earlier, and 126 more commercial accounts in May than in April, according to the Los Angeles Department of Water and Power. “You mostly have small businesses starting up that activate these new commercial accounts,” said Jack Kyser, chief economist for the Los Angeles Economic Development Corp. “In the West Valley, it’s mostly high tech, in the East Valley you have small post-production and special-effects houses opening. In the mid-Valley it’s a mix of businesses.” He noted that growth in the number of entertainment industry businesses may be slowing, mainly due to recent decisions by some major studios to cut the number of films produced each year. That could cause a corresponding drop in demand for the services of the small companies that service the studios. There were increases in two of the three other electricity account categories tracked by the department. The largest growth during May was in residential accounts, which rose by 5,538 from a year earlier, reaching 438,020 accounts. The number of apartment accounts grew by 111 from the year-earlier level, to 15,158 accounts. Industrial accounts was the only Valley category to decline during the year, but it fell by only 12 accounts to total 6,987.

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