California’s $21 billion wildfire fund may shield Edison International’s balance sheet if equipment owned by the company’s electric utility is found to have caused a deadly Los Angeles fire last month, Edison’s CEO said on Thursday.
Southern California Edison, one of the state’s largest electric utilities, faces a swelling number of lawsuits claiming its power lines caused the Eaton Fire in the foothills near Pasadena.
The California Wildfire Fund, which allows the state’s utilities to recover some wildfire-related claims payments, has $21 billion and has been largely untapped by investor-owned utilities like Southern California Edison,