The utility plans to tap California’s wildfire insurance fund to pay off most of the potential damages Preliminary evidence, disclosed in February by SCE indicates the company's equipment may have been involved in starting the fire neither SCE nor third party investigators have identified solid evidence to suggest that another source could have ignited the fire It could take 12 to 18 months for investigators to come to a conclusion about the cause of the fire the company has opened discussions with state lawmakers about the future of California's wildfire insurance fund for utilities which SCE plans to tap to pay any legal claims that may result from the fire Pizarro wouldn't rule out the possibility that the Eaton Fire could have been started by something other than SCE’s power lines the absence of any competing theories about its ignition suggest it is “probable” that the utility will be found liable for losses associated with the fire Pizarro declined to estimate the financial value of those damages but said that third-party estimates he has seen remain within the scope of the California Wildfire Fund’s financial capacity The recent occurrence of several catastrophic wildfires within a relatively short window of time has raised questions about whether the $21 billion fund will prove adequate to cover utilities' legal losses Experts who helped shape the fund also believe it should be able to cover the Eaton Fire damages, but worry it may not have enough left over to pay for the next catastrophic California wildfire Pizarro said he remains confident that SCE will be able to tap the fund to pay any claims resulting from the fire The company will first draw on its own $1 billion self-insurance account before turning to the state-run insurance fund for reimbursement of wildfire related claims He saw no reason to believe SCE would be barred from accessing the fund which should enable the company to avoid having to issue debt to pay legal claims straightforward process once you hit the point where you need to access” the fund chief financial officer for Edison International Pizarro said the company has opened discussions with California lawmakers about possible legislation to shore up the fund and indicated that state policymakers seem to support the notion of expanding the fund to ensure it can continue to cover future wildfires he said conversations remained in their early stages and that it was too early to discuss exactly how the state will finance an expansion of the fund helping educate and to making sure that policymakers understand the implications here,” Pizarro said “This is ultimately about how do we maintain safety for our communities and do it at the lowest cost possible to customers people understand the impacts that actions from the shareholder side can have on the cost of debt to customer cost — so I think that's still in the that early phase of getting arms around the topic.” Get the free daily newsletter read by industry experts “There is simply no physical way that wind solar and batteries could replace the myriad uses of natural gas,” Energy Secretary Chris Wright said at S&P Global’s CERAWeek The White House has not directed the commission to bolster coal-fired generation and the agency is eyeing reorganization possibilities The free newsletter covering the top industry headlines Print Southern California Edison has repeatedly insisted that its former government affairs manager state Assemblywoman Lisa Calderon (D-Whittier) But that’s not what Edison told the federal government Calderon is sponsoring legislation favored by Edison that would slash the credits that many homeowners receive for generating electricity with rooftop solar panels Edison has objected to The Times’ identifying Calderon as a former executive for the utility claiming on its website that the news organization is “choosing sensationalism over facts.” But in its official reports to the Federal Election Commission the political action committee for Edison International — the utility’s parent company — listed Calderon’s occupation as an executive in more than a dozen filings made before she left the company in 2020 to run for office An example of the reports that Edison International’s political action committee filed with the Federal Election Commission All the filings were signed by the PAC’s treasurer saying that “to the best of my knowledge and belief” the information “is true Edison spokeswoman Kathleen Dunleavy said that the company was referring in its filings with the commission to a broad class of individuals that met requirements for executive as defined by the commission Edison uses the term to “designate someone in a high position of authority,” she said vice president or similar title.” Because Edison didn’t consider Calderon an executive Calderon told The Times earlier that she was a senior advisor of government affairs at Edison International she is described as government affairs director she said her official title was government affairs manager she managed the parent company’s political action committee Calderon said she had not filled out the political action committee’s reports Instead they were prepared and filed by the company’s law firm she was categorized as an executive for FEC filing purposes,” her office said “That does not mean that she was an executive at Edison.” For years, Lisa Calderon managed Edison International’s Political Action Committee (EIPAC — 2019 Annual Report) Calderon’s AB 942 would sharply reduce the financial credits that the owners of rooftop panels receive when they send unused power to the grid The bill applies to those who installed the panels before April 15 It would limit the current program’s benefits to 10 years — half of the 20-year period that the state had told the rooftop owners they would receive The bill also would cancel the solar contracts if the homes were sold It wouldn’t apply to customers served by municipal electric utilities Edison and the state’s other big for-profit utilities have long fought to reduce the energy credits aimed at getting Californians to invest in rooftop solar panels. The popularity of the systems has cut into electricity sales. Climate & Environment California officials want to reduce the financial credits that households with rooftop solar panels can earn for excess energy. “It’s the utilities preserving their monopoly,” says one homeowner. Calderon, Edison and other supporters of the bill point to an analysis by the California Public Utility Commission’s Public Advocates Office that found the energy credits given to the rooftop owners were increasing the electric bills of those who don’t have solar panels. The bill’s first hearing is scheduled for Wednesday. Edison has been under scrutiny since Jan. 7, when videos captured the devastating Eaton wildfire igniting under one of its transmission towers. The wildfire killed 18 people and destroyed thousands of homes, businesses and other structures in Altadena. Edison says it is cooperating with investigators working to determine the cause of the inferno. Nearly 2 million California rooftop solar owners would see their energy credits slashed under legislation by Assemblywoman Calderon. Melody Petersen is an investigative reporter covering healthcare and business for the Los Angeles Times. Send her tips securely on Signal at (213) 327-8634. World & Nation Subscribe for unlimited accessSite Map Print Calderon’s AB 942 would limit the energy credits provided to those who purchased the systems to 10 years — half the 20-year period the state had told rooftop owners they would receive Edison and the state’s two other big for-profit utilities have long tried to reduce the energy credits that incentivized Californians to invest in the solar panels A bill to sharply reduce the energy credits given to homeowners with rooftop solar panels is pitting union electrical workers and the state’s big utilities against people who benefit from the solar credits — and one of the first skirmishes took place in the City of Industry on Wednesday Waving signs and blowing whistles, dozens of rooftop solar owners protested outside the office of Assemblymember Lisa Calderon (D-Whittier), who proposed Assembly Bill 942 to slash the credits for people who installed the systems before April 15 one of the rooftop solar owners at the protest said he doubts he would have purchased the panels if he would have known the state would be reversing the incentives “Stuff like this tears my heart,” said Matthews Calderon worked for Southern California Edison and its parent company for 25 years before she was elected in 2020 Her last position included managing the parent company’s political action committee Edison and the state’s two other big for-profit utilities have long tried to reduce the energy credits that incentivized Californians to invest in the solar panels The rooftop systems have reduced the utilities’ sales of electricity “Calderon: For the People or for Edison?” said one sign waved by protesters outside Calderon’s office in the City of Industry “Stop SCE’s Revolving Door in Sacramento,” said another Solar panel installers in Watts on June 18 (Gary Coronado/Los Angeles Times) Calderon told the Times she introduced the bill because she had learned that 97% of the people in her district were paying higher electric bills because of the solar credits going to the remaining 3% when they sent the unused electricity from their solar panels to the grid but we need to do it in a fair and equitable way.” Pacific Gas & Electric and San Diego Gas & Electric have all sent her letters supporting the bill AB 942 would limit the energy credits provided to those who purchased the systems to 10 years — half the 20-year period the state had told rooftop owners they would receive It would also end the incentives if the house was sold Uniting in the effort to oppose the bill are dozens of environmental groups including the Sierra Club and the Environmental Working Group which point out that the state has long said the solar contracts would last for 20 years Also attending the protest were representatives from the California Solar & Storage Assn., a trade group that represents companies selling the rooftop solar systems. The protest was organized by the Solar Rights Alliance, a statewide association of solar users. Nearly 2 million California rooftop solar owners would see their energy credits slashed under legislation by Assemblywoman Calderon said the company sent Calderon a letter Wednesday backing the bill He said the bill has “nothing to do with utility profits It will result in savings for our customers.” The company estimates that those customers who don’t have solar would save $500 million by 2030 if AB 942 passed or about 3% of the average household electric bill The unions of electrical workers who install and repair equipment built by Edison and other electric companies are lobbying to get the bill passed a spokesperson for the California State Assn of Electrical Workers said the group “strongly supports” the bill which it said would “alleviate the financial burden on non-solar ratepayers.” At a meeting in Sacramento in late March, leaders of the group, which represents 83,000 electrical workers in the state, said a top goal was to reform the rooftop solar incentives unreasonable and unsustainable for Californians to continue shoveling billions of dollars every year to an industry when it is no longer justified nor fair to non-solar customers particularly when the burden falls hardest on low-income customers,” Scott Wetch wrote in a letter to the chair of the Assembly Utilities and Energy Committee Calderon and the electrical workers point to an analysis by the state Public Utilities Commission’s public advocates office that said the credits given to rooftop owners for the electricity they send to the grid is raising the electric bills of customers who don’t own the panels by $8.5 billion a year. The rooftop solar industry and environmental groups disagree with that analysis, saying it was flawed. In a recent letter to the Assembly committee, the environmental groups pointed to an analysis that economist Richard McCann performed for the rooftop solar industry that found that electric rates had risen as the utilities spent more on infrastructure. That equipment includes the transmission lines needed to connect industrial-scale solar farms to the grid. Even though homeowners’ solar panels helped keep demand for electricity flat for 20 years, the three utilities’ spending on transmission and distribution infrastructure had risen by 300%, McCann found. “To address rising rates, California must focus on what’s really wrong with our energy system: uncontrolled utility spending and record utility profits,” the environmental groups wrote. In December 2022, the commission voted to cut incentives for anyone installing the panels after April 15, 2023, by 75% but left the incentives in place for legacy customers. AB 942 would not apply to rooftop solar customers who live in territory served by the state’s municipal utilities, including the Los Angeles Department of Water and Power. A hearing on the bill is scheduled for April 30. The company’s plan would target areas at higher risk of wildfires, with about 130 circuit miles of underground distribution lines being placed in high-fire-risk areas. “SCE’s initial rebuilding plan will underground electrical distribution infrastructure where practical and make the most of breakthrough technologies to reduce wildfire risk,” said Pedro Pizarro, CEO of Edison International, SCE’s parent company. The project is expected to cost at least $860 million and could take years to complete, but officials said the plan would reduce the risk of wildfires in the area as well as the need for emergency power shutdowns during extreme weather events. “SCE will build back a resilient, reliable grid for our customers,” said Southern California Edison CEO Steven Powell. California Southern California Edison changed how crews ground idle transmission towers just days after the Eaton fire the underground lines would account for about half of the city’s distribution lines “It’s pretty significant,” Pizarro said in an interview Edison’s plan comes after Gov. Gavin Newsom in March suspended key environmental laws for utility companies to rebuild infrastructure that was damaged and destroyed during the fires The order eliminated the need for companies to comply with the California Environmental Quality Act and the California Coastal Act and it encouraged utilities to build underground equipment where possible Pizarro said the order helped Southern California Edison develop the plan for the underground lines speeding the pathway to get the work underway “Those are areas that have been pretty significantly destroyed and our hearts are broken for them,” he said Edison’s preliminary draft calls for a total of 153 circuit miles to be installed underground In Altadena, about 40 circuit miles of power line would be replaced underground in neighborhoods that have been determined to be high-fire-risk areas. Another 23 circuit miles would be installed in neighboring areas. In Malibu, 90 circuit miles would be constructed in the city. Edison also is reviewing adding another 19 miles to the project in Altadena. In all, the project is expected to cost somewhere between $860 million and $925 million. Some of the areas could be completed within months, but others could take years. Pizarro said much of it depends on the community’s rebuilding plans, the needs that arise as reconstruction projects get underway, and the permitting process. “We’re working closely with state and county leaders and the communities of Altadena and Malibu to rebuild wildfire-impacted area stronger than ever,” Pizarro said. The plan is a significant project to Edison, which was already requesting approval for projects to place about 600 miles of lines underground by 2028. Currently, the company has about 17,000 miles of distribution circuits in high fire risk areas, and about 7,000 miles of those are underground. The plan was drafted after more than 50 meetings with community members, and will include upgrades to the grid design in anticipation of increasing demand. “There’s a lot of interest in the community to do underground lines,” Pizarro said. Lines that are not placed underground will be hardened and covered with insulation. Cal Fire added at least 2.8 million Californians to fire hazard zones. Here’s how to check which zone you’re in and what that means. Although the cost of the plan could near a billion dollars, officials said SCE was looking to work with local, state and federal officials to find ways to fund the project so that it doesn’t translate to increased rates. “This is a lot of cost to the customer, so we’re looking at either federal, state or philanthropic options to lower the cost,” Pizarro said. The company also is looking for ways to fund other direct costs for customers, he said. For example, connecting homes to the grid can cost the individual customer $8,000 to $10,000, he said. “We really want to find a way to avoid that being a cost that these communities have to pick up,” he said. Some of those costs might be diverted through grants and other projects with state or local officials, he said. The current plan would only include distribution lines, which are the electrical wires that carry electricity from the grid into homes and businesses. Transmission lines, which carry a larger amount of electricity through regions, are not included in the plan. Although speculation about what sparked the Eaton fire has centered on the area near three transmission towers in Eaton Canyon, Pizarro said the risk of electrical equipment sparking a wildfire is higher with distribution equipment. The company has explored the possibility of placing transmission lines underground but said doing so is less feasible because of factors such as the amount of electricity of the lines; rougher, steeper terrain; and higher costs. Salvador Hernandez is a reporter on the Fast Break Desk, the Los Angeles Times’ breaking news team. Before joining the newsroom in 2022, he was a senior reporter for BuzzFeed News, where he covered criminal justice issues, the growing militia movement and breaking news. He also covered crime as a reporter at the Orange County Register. He is a Los Angeles native. Hollywood Inc. Entertainment & Arts Print Just weeks after the deadly Eaton fire ignited near three Southern California Edison transmission towers the utility quietly changed an internal policy on how crews should ground idle electrical pylons The change attracted little attention at the time — due mostly to the fact that early suspicion about the cause of the blaze focused on two active transmission towers in Eaton Canyon But in recent weeks, speculation about the origin of the fire has shifted to a third idle transmission tower that had been unused for more than five decades Southern California Edison — and the state commission tasked with regulating utilities — have refused to disclose what changes Edison made to how it grounds idle transmission towers or what prompted the company to make the change days after its crews were allowed to inspect the hillside where the blaze erupted The California Public Utilities Commission has ignored questions and denied a public records request from the Los Angeles Times regarding Edison’s actions. The request could help shine a light on what officials have learned during their inspections, and what might have caused the inferno that killed 18 people. Southern California Edison has been inspecting electrical equipment in Altadena as part of the ongoing investigation into what sparked the deadly Eaton fire. The agency cited no exemption in denying the request, which is required under the California Public Records Act. Instead, the commission said responsive documents were not available at this time and told The Times to resubmit its request in nine months. A spokesperson for the agency did not respond to questions as to why. However, the California Public Records Act does not allow agencies to delay disclosures for months. Instead, it requires them to respond within 10 days of getting a public records request. The act allows agencies to request extensions, but states they should be no longer than 14 days except for “unusual circumstances.” Loretta Lynch, the former president of the CPUC from 2000 to 2002, said the documents should be released. “They should be completely available,” she said in an interview. “They should be filing these reports, otherwise, why do we have the CPUC to begin with?” Lynch, who has openly criticized the commission for its close ties to utilities, said companies such as Edison often rely on the CPUC to keep documents from the public. Often, she said, companies will request that documents that would be of public interest be tagged as “business confidential” to keep them from being released. The CPUC denied The Times’ records request on March 10. The Times asked the agency to reconsider its decision four days later, noting the agency cited no reason to withhold the documents. The request to the commission’s legal division, as well as multiple calls and messages to its media relations department seeking clarity as to why the records were being denied — or why no reason was cited as required by the state’s public records law — went unanswered for weeks. The Times reached out to the CPUC for comment Friday for this article. The CPUC notified The Times on Monday the document request had been reopened for consideration. Edison has also declined to release the document publicly. The company also declined to answer specific questions on the manual, such as what prompted the change, or what the change would entail when it came to idle towers such as the one now being scrutinized in the Eaton fire investigation. A spokesperson for Edison referred to it as an internal document. “After we reviewed the manual, we realized the language was not as clear as it could be for grounding idle lattice steel structures and, in the spirit of making continuous improvement, we made changes to make it more clear,” said the spokesperson, David Eisenhauer. Transmission towers must be grounded — or carefully connected to the earth — to safely dissipate energy from lightning strikes and voltage surges. Another spokesperson for Edison on Thursday objected to the manual being characterized as “secret,” saying the company had not labeled it secret and had submitted to the state commission. “This document was submitted to the CPUC and if anything, reflects a committed approach to improving safety standards,” said spokesperson Kathleen Dunleavy. Early findings from an ongoing study report that a group of 20 firefighters tested after the Palisades and Eaton fires had higher-than-expected levels of mercury and lead in their blood Edison is not required to make the document public attorneys who have sued the company for its possible role in the Eaton fire criticized the decision arguing that it went against the company’s promise of transparency The document could shed light into the company’s response to the disaster they’ve hinted that the company made some change to grounding practices that could be at the core of this case but refuse to tell anybody what they did,” wrote Eli Wade-Scott “If SCE failed to properly ground these idle lines that have been sitting there for fifty years that was a disaster waiting to happen — and they will have to answer for that to a jury.” Edison is now facing numerous lawsuits over the fire and the possible role of its electrical equipment Investigators with the Los Angeles County Fire Department and the California Department of Forestry and Fire Protection have yet to determine an official cause of the fire and Edison has since deployed crews and workers to inspect and test the equipment overlooking Eaton Canyon But several law firms have hired their own team of fire investigators and electrical engineers to investigate the cause and look for clues and a grounding wire that was exposed by about four feet in the steep hillside “The tower was not grounded properly,” said Alexander Robertson an attorney from the firm Robertson and Associates LLP “That cable is supposed to be buried deep into the ground.” Although the tower and line have not been in use since 1971 Edison officials and attorneys are looking at the possibility the idle tower and lines could have somehow been reenergized sending electricity through the equipment and raising the possibility that the exposed grounding wire could have sparked the fire In a Feb. 6 filing with the CPUC Edison noted it was investigating the possibility its equipment could have caused the fire including “the extent to which that line or its grounding could be related to the cause of the fire.” the filing states that the company changed how it grounds idle lines and its manual — specifically sections referring to the grounding of idle towers “SCE has taken immediate steps to further strengthen and standardize its grounding practices with respect to idle lines including updating SCE’s Transmission Operations and Maintenance Policies and Procedures,” reads the footnote An Edison spokesperson declined to say what prompted the changes or if they were connected to the company’s inspections of its three towers after the fire Eisenhauer declined to answer questions as to whether changes in the language of the manual resulted in changes to how crews were required to ground idle transmission towers from now on confirmed to The Times that Edison updated its Transmission Operations and Maintenance Policies on Jan 20 days after the fire began and 11 days after Edison crews got access to inspect the area The changes updated a four-month-old version of the manual outlining maintenance and procedures for the company No other changes made to Edison’s manual were noted in the Feb and Edison officials declined to say if it was the only change made to the manual In a recent interview with The Times, Edison International Chief Executive Pedro Pizarro said it was possible the company’s equipment caused the fire. “It’s certainly possible it did,” he said. “I’ve pledged to be transparent with the public as we continue to investigate.” Michael Aguirre, a former federal prosecutor who has sued the CPUC to release records, said it is a constant uphill battle to have the regulating agency release records. “There is a blanket of secrecy over the paperwork that flows to the CPUC, that never gets to the public domain,” he said. Documents are often tagged as proprietary, he said, and the agency has worked exemptions into the state’s public records law, similar to branches of government like the governor’s office. An Edison spokesperson would not say if the document was labeled as holding proprietary information or as “business confidential,” preventing its release. Dozens of lawsuits filed against Edison raise a number of theories as to how electrical equipment might have been involved in sparking the fire, including the possibility of arcing, and allegations Edison failed to maintain the vegetation in the area, raising the risk. It’s unclear if, or how, the idle tower could have been energized, but Robertson, the attorney, said investigators are looking at the possibility of induction — where a line is powered by a running parallel line. 2025 1:45 PM EDTMen’s Journal aims to feature only the best products and services.  If you buy something via one of our links a 53% savings compared to its full price of $179 This large console is wide enough to accommodate a vast range of TV sizes but it can also hold smaller 50-inch models without looking clunky It's earned nearly three dozen five-star ratings with one shopper even confessing it’s the “absolute perfect size for an 85-inch TV.” This 58-by-16-by-24-inch TV console is the perfect size to handle a wide array of TV sizes Its multiple storage compartments—four in total—and two adjustable shelves give you a place to put gaming systems It's built with sturdy MDF laminate wood that has a realistic wood-grain texture and its dark walnut color ensures it can efficiently blend into any living room aesthetic “This piece is gorgeous," a shopper said "It offers my family living room a modern feel and pairs wonderfully with our dark leather couches It's big but not huge and has plenty of shelving for organizing…It also looks great under our 65-inch TV We use it mostly to house our gaming consoles and the sturdiness is off the charts.” Sign up for Men's Journal's Recommended By newsletter to get gear, fitness, and more deals delivered straight to your inbox. Prices are accurate and items in stock at time of publishing. By Jeff Turbett is a men’s lifestyle commerce writer covering all things fitness and wellness EDISON – One resident was displaced following a two-alarm house fire Friday morning on New Dover Road Township firefighters responded around 4:47 a.m to a two-story home where they reported heavy black smoke coming out of the front door The fire took an hour and a half to put out with the help of the North Stelton fire department One resident self-evacuated before the firefighters’ arrival and was not injured More: Historic home in Readington damaged by fire: police The building has significant damage and is uninhabitable The resident is being helped by the Red Cross Email: alewis@njpressmedia.com Alexander Lewis is an award-winning reporter and photojournalist whose work spans many topics A case management conference is scheduled Tuesday for numerous lawsuits accusing Southern California Edison of responsibility for the devastating January 7 Eaton Fire that killed 18 people and destroyed approximately 9,400 structures in Department 17 of the Spring Street Courthouse will address multiple legal actions filed initially by Jeremy Gursey and joined by hundreds of other plaintiffs who lost their homes in the Altadena blaze Plaintiffs contend the wildfire ignited beneath an Southern California Edison transmission tower in Eaton Canyon and rapidly spread through neighboring communities amid wind gusts reaching up to 100 mph More than 40 lawsuits representing over 600 residents along with government entities including Los Angeles County The lawsuits allege Southern California Edison failed to de-energize its electrical equipment despite repeated National Weather Service warnings about extreme fire danger and high winds Plaintiffs claim the utility prioritized profits over safety and neglected proper infrastructure maintenance including schools and parks throughout the affected communities A court order requires Southern California Edison to preserve all equipment and data related to the suspected origin of the fire following concerns about potential evidence tampering “In my decades of experience handling wildfire litigation the Eaton Fire is among the most devastating and heart-wrenching cases I’ve seen,” said Patrick McNicholas Attorney Doug Boxer of LA Fire Justice stated bluntly: “Southern California Edison started the Eaton Fire and we’re here to hold them accountable.” Plaintiffs’ attorneys have submitted photos videos and satellite imagery allegedly showing the fire originated beneath Southern California Edison’s power lines with multiple eyewitnesses reporting flames at the base of transmission structures Southern California Edison has denied responsibility while acknowledging investigations are ongoing “While we do not yet know what caused the Eaton wildfire Southern California Edison is exploring every possibility in its investigation including the possibility that Southern California Edison’s equipment was involved,” said Pedro J Southern California Edison’s parent company “Our hearts remain with our community during the devastating fires in Southern California and we remain committed to supporting them through this difficult time,” a Southern California Edison spokesperson told ABC7 The utility filed a report with the California Public Utilities Commission reportedly noting a fault occurred on its transmission line the evening the fire started but maintained that current remained within operational limits and that no typical signs of equipment failure—such as broken conductors or arc marks—were initially found at the origin site Southern California Edison expects investigations to continue for 12 to 18 months and has begun discussions about using California’s wildfire insurance fund to cover potential legal claims and damages The company maintains a $1 billion self-insurance reserve and plans to access the state’s $14.7 billion wildfire fund if necessary By relying on its self-insurance and the wildfire fund Southern California Edison aims to avoid incurring significant new debt to settle legal claims which distinguishes the current situation from previous wildfires that forced utilities into financial distress or bankruptcy The approach is part of a larger trend among California utilities as the state’s wildfire fund is under strain and may be insufficient for future catastrophic events This has prompted calls for reform and expansion of the fund The official cause of the Eaton Fire remains under investigation by Los Angeles County Fire and Cal Fire More » The ‘Humming-Byrd’ House: A Mid-Century Storybook Ranch Surrounded by Nature Pasadena Now has been published daily since April 2004 and is among the very oldest continuously operated community news websites in the U.S Pasadena Now strives to publish a full spectrum of news and information articles in service to the entire community The publication will remain free to readers and will not erect paywalls Copyright © 2025. Pasadena Now | Terms of - Service | Privacy Policy | CA Notice of Collection RSS (Really Simple Syndication) feeds offer another way to get Pasadena Now content Subscribe to our feeds to get the latest headlines summaries and links back to full articles – formatted for your favorite feed reader and updated throughout the day An investigation on behalf of current long term investors in Edison International (NYSE: EIX) shares All 5 Releases Investigations into the cause of the fire are continuing and have not concluded that Edison’s equipment sparked the blaze, Edison International Chief Executive Pedro Pizarro said during the company’s first-quarter earnings call. Business Edison generates billions of dollars in revenue every year and has a history of passing along the costs of disasters to customers How will it handle the financial fallout of the Eaton fire remains an open question But Edison’s investigation into the start of the fire has not revealed any other possible sources of ignition “Absent additional evidence” and “in light of pending litigation it is probable that Edison International and Southern California Edison will incur material losses in connection with the Eaton fire,” Pizarro said But Tuesday’s comments are the clearest signal to date that the company is likely to sustain substantial losses from the devastating wildfire. “It’s still very early days here and the liability is simply not estimable today,” Pizarro said. “I’m not sure when it may become estimable.” unconnected transmission line somehow reengerized on Jan 7 is now “a leading hypothesis” for what started the destructive Eaton fire is an investor-owned public utility that provides electricity to about 15 million people across a 50,000-square-mile area in Southern California which is one of the largest in the country Edison International owns an energy advisory company Electric transmission lines connect to Southern California Edison’s Vincent Substation in Palmdale (Gary Coronado / Los Angeles Times) In all Edison International employs more than 14,000 people and had a valuation of around $30 billion before January’s wildfires The company’s valuation closed Tuesday at $22.6 billion If Edison has to cover the damage caused by the Eaton fire, the utility will be partially protected by an emergency fund that state lawmakers created in 2019 in the wake of earlier wildfires The fund is designed to protect utility companies from bankruptcy in the event that the utility is found responsible for a wildfire and has to make a large payout State regulators criticized Southern California Edison for falling behind in inspecting transmission lines in areas at high risk of wildfires just months before the deadly Eaton fire, according to state documents. “Unlike when we were dealing with TKM and Woolsey, we have the wildfire fund that we will be accessing,” Edison International Chief Financial Officer Maria Rigatti said on Tuesday, referring to previous wildfires tied to Edison’s equipment. The emergency fund is supposed to cover up to $21 billion in damages on behalf of a utility company but had amassed only $14.7 billion as of December 2024. Under state law, a utility does not have to reimburse the wildfire fund after using it to cover damages if a review finds it acted prudently to prevent a fire, such as by shutting down power to transmission lines amid high winds. But if Edison is found to have been imprudent, it will have to pay back $4 billion to the fund. “Based on everything we know today and the information that we’ve reviewed, we believe that Southern California Edison will make a good-faith showing that it was prudent,” Rigatti said. On Tuesday, Edison International reported first-quarter net income of $1.4 billion and earnings per share of $1.37, up from $1.13 a year earlier. Shares closed at $58.73 on Tuesday, about half a percent higher and down 26% so far this year. Caroline Petrow-Cohen is a Business reporter at the Los Angeles Times covering electric vehicles and aviation. She is a graduate of Duke University, where she studied journalism, English and environmental science and policy. You have the right to make energy from the sun without interference from the utilities Governor Newsom’s CPUC has proposed to break the state’s contract with nearly two million solar customers A former SoCal Edison executive has filed a bill to make part of this proposal law (AB 942) These changes would apply to ALL solar customers who signed up for solar before April 2023 (NEM1 and NEM2) AB 942 narrowly passed a key legislative committee on April 30th but it still has several more steps in the process The bill breaks two million solar contracts and would cause many solar owners to lose tens of thousands of dollars while making it harder or impossible to sell their homes Tell them to fix what's really driving rates: utility spending and profits California requires PG&E, Edison, and SDG&E to sign an “interconnection agreement” with solar customers. For consumers who signed up for solar before April 2023, the contract says their system can stay on their “net metering” plan for twenty years which is the minimum warranty for solar panels The contract’s twenty year guarantee remains even if the home is sold Two million consumers invested tens of thousands of dollars often taking out long-term loans and leases They made this investment trusting that the State would stand by their contract But now, at the request of Governor Newsom, the CA Public Utilities Commission (CPUC) is proposing to: The twenty year protection is not random. It is based on a long-standing, well-documented precedent. Learn more about the solar contract The probe into the deadly Southern California Eaton fire is likely to take a year or more as authorities examine Edison International’s utility equipment as the possible cause according to the company’s chief executive officer is conducting its own investigation and has reviewed some “circumstantial information” indicating its power lines may have played a role in the blaze that destroyed much of the town of Altadena in January CEO Pedro Pizarro said Wednesday during an interview on Bloomberg Television Related: Southern California Edison Lays Out $925M Plan to Rebuild After LA Wildfires The Eaton Fire was among the most deadly blazes in California history Pizarro said the company’s equipment “could” be linked to the blaze Edison plans to begin settlement talks with victims who have sued the utility if the company concludes its equipment started the fire Related: Bill to Address California Wildfire And Insurance Crises Moving Through Legislature The company would pay for the first $1 billion for any settlement with its own insurance, while the rest would come from the state of California’s $21 billion wildfire fund, Pizarro said. “If we end up doing that, we then get immediate reimbursement from the fund,” he said. “We would not expect any impact on our balance sheet and credit metrics as we do that.” Top photo: Private contractors remove debris from a home destroyed by the Eaton Fire in Altadena, California. Photographer: Kyle Grillot/Bloomberg. Thank you! Please tell us what we can do to improve this article. Thank you! % of people found this article valuable. Please tell us what you liked about it. Get the insurance industry's trusted newsletter Your email address will not be published. Required fields are marked * Δdocument.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Rochester, N.Y. — Students at Edison Tech are pitching in to help rebuild and install new garden beds at the First Street Garden. This hands-on project is part of their career and technical education, providing them with real-world experience in construction and design. The First Street Garden, maintained by a group of volunteers, grows vegetables and flowers for the surrounding neighborhood. In addition to the garden beds, students are also working on a new stage at the garden, which will be equipped with new lighting, planter benches, and a gazebo. Democratic gubernatorial candidate and Lav Patel, who is taking on incumbent mayor, endorse each other Seeking votes in the town he grew up in, Democratic gubernatorial candidate Steve Fulop announced a big move in vote-rich Edison, where he will team up with mayoral candidate Lev Patel in advance of the lineless June 10 primary election. Fulop, the three-term mayor of Jersey City and a graduate of J.P. Stevens High School, and Patel have endorsed each other, and both are backing three township council candidates allied with Patel in a fight against the local political establishment. Patel is challenging first-term mayor Sam Joshi, who has the support of the Middlesex County Democratic organization.  The county party is also supporting Mikie Sherrill for governor. “Edison is where I come from. It is where I learned what it means to work hard, serve others, and fight for what is right,” Fulop said.  “Lav Patel and his team are building a new future for Edison. They are not tied to the political insiders who have held this community back. They are fighting for the people of Edison, and I am proud to fight alongside them.” Edison has 30,896 registered Democrats; it ranks fifth in the state behind Newark, Jersey City, Paterson, and Elizabeth.   In 2021, 10,620 votes were cast in the Democratic mayoral primary when Joshi, running on the county line, defeated Mahesha Bhagia by a 61.5%-32.5% margin. “Steve Fulop is one of us. He grew up here, he knows what makes Edison special, and he is not afraid to take on the establishment to get results,” stated Patel.  “We are proud to support Steve’s campaign for governor because he is fighting the same fight we are. Together, we will deliver the leadership that Edison and New Jersey deserve.” Jayesh Mehta, Yingnan (Ingrid) Chen, and Anthony DeAmorin are on the Fulop/Patel council slate. In a State Senate primary that year, renegade Democrat Samuel Convery carried Edison by about 200 votes against the organization candidate, five-term Assemblyman James Bornheimer (D-East Brunswick).  Bornheimer won the primary by 1,266 votes, 54%-46%. President Donald Trump participates in a National Day of Prayer at the White House. WATCH4.30.25 Highlights: Indian Creek @ Edison baseballby WTOV Sports Tap to enable a layout that focuses on the article Print A group of planners designers and field technicians at Southern California Edison on Thursday filed a petition for a union election with the National Labor Relations Board The move jump-starts a long-simmering unionization effort that comes amid scrutiny of the electric utility for potential mishandling of the devastating Eaton fire Hundreds of workers are asking to be represented by the Engineers and Scientists of California Local 20 which is part of the International Federation of Professional and Technical Engineers Of the more than 1,100 eligible workers of the proposed bargaining unit a “strong majority” have signed union authorization cards It declined to disclose the number of cards signed Workers sent Edison management a letter Thursday morning notifying the company of their intent to unionize Workers said they began organizing more than five years ago but the effort was derailed when the COVID-19 pandemic hit “This has actually been years in the making I’m excited we are one step closer to forming a union,” said Aaron Pearson a planner who has worked at Edison for more than 20 years We feel a union would give us the power to protect what’s working fix what’s not working and keep communities safe.” said the company knows that its “ability to deliver clean safe and reliable power depends on providing a rewarding and respectful work environment and competitive compensation and benefits to all [its] employees.” “We respect the right of our employees to vote in an election and decide for themselves whether to join a union,” Leventhal said “We are encouraging all our employees to take the time to become educated and to vote on what they believe is in their own self-interest.” the International Brotherhood of Electrical Workers Local 47 already represents construction linemen who install and maintain the overhead distribution and transmission lines urged the company to take a neutral approach to the union so that workers could eventually vote in an election “without interference or intimidation.” “These workers provide an indispensable service to the people of California and their right to come together collectively to improve their working conditions must be respected and protected,” Mader said in a statement While the cause of the Eaton fire — which killed 18 people and destroyed more than 9,000 structures in Altadena — remains under investigation residents have filed several lawsuits blaming Edison for sparking the conflagration Edison International Chief Executive Pedro Pizarro said this month that the possibility an idle unconnected Edison transmission line reenergized is “a leading hypothesis” for what sparked the fire The company announced recently that more than 150 miles of electrical lines damaged by the Palisades and Eaton fires will be replaced with underground lines in a years-long project Workers said that they were not authorized to speak about the company’s handling of the fire and that their motivation to join the union had not been influenced by the disaster and resulting scrutiny. “Our job is to make sure we have a safe and reliable system. We are just excited to have a voice at the table in how we go forward,” said David Morasse, a planner at Edison for about 25 years. Once an election is held and if a majority of the bargaining unit votes in favor, the group of workers will officially join ESC Local 20 and begin negotiating their first contract with Edison. Suhauna Hussain is a business reporter covering California labor and workplace issues for the Los Angeles Times. (KTVZ) -- The Deschutes National Forest lifted the Bachelor Complex Emergency Fire Closure on Thursday reopening Edison Sno-Park and the surrounding area drivers along roads in the area are advised to use caution many of the roads in the area still have significant stretches of snow at this time," the forest said in a Facebook posting The fires burned more than 15,000 acres near Mt Please use caution when recreating in areas that were impacted by the Little Lava Fire A burned landscape presents a number of safety hazards that either did not exist prior to the fire or have been exacerbated by the effects of the fire these hazardous conditions may persist for several years after a fire area closures and directions from agency personnel and pay particular attention to these potential safety hazards Be especially wary of hazard trees after rain events or during wind erosion - especially at road and trail edges and ash pits (which may form from root pockets or stumps of burned trees) ice and snow can increase the risk of tree fall Flash floods and landslide risks are elevated below severely burned areas LOOK BELOW the surface of standing water and moving water for floating logs which can strike or entangle swimmers and boaters and damage other infrastructure Barney is the Digital Content Director for KTVZ News. Learn more about Barney here KTVZ NewsChannel 21 is committed to providing a forum for civil and constructive conversation Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here If you would like to share a story idea, please submit it here Caisse DE Depot ET Placement DU Quebec bought a new stake in Edison International (NYSE:EIX - Free Report) during the 4th quarter according to its most recent 13F filing with the Securities and Exchange Commission (SEC) The fund bought 195,122 shares of the utilities provider's stock Caisse DE Depot ET Placement DU Quebec owned 0.05% of Edison International at the end of the most recent reporting period The company has a market capitalization of $21.15 billion a price-to-earnings-growth ratio of 1.07 and a beta of 0.74 Edison International has a twelve month low of $49.06 and a twelve month high of $88.77 a current ratio of 0.88 and a debt-to-equity ratio of 1.96 The firm has a 50 day moving average of $56.51 and a 200 day moving average of $67.28 Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Tuesday The utilities provider reported $1.37 earnings per share for the quarter topping analysts' consensus estimates of $1.21 by $0.16 Edison International had a return on equity of 13.17% and a net margin of 8.52% The business had revenue of $3.81 billion during the quarter compared to analyst estimates of $4.29 billion During the same quarter in the previous year Edison International's revenue was down 6.5% on a year-over-year basis equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year Edison International Dividend AnnouncementThe company also recently declared a quarterly dividend April 7th were paid a dividend of $0.8275 per share This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.03% Edison International's dividend payout ratio is currently 46.95% Wall Street Analyst Weigh InSeveral brokerages have issued reports on EIX UBS Group raised Edison International from a "neutral" rating to a "buy" rating and cut their target price for the stock from $69.00 to $65.00 in a research note on Tuesday The Goldman Sachs Group cut their price target on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday LADENBURG THALM/SH SH upgraded Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price objective on the stock in a research report on Wednesday Barclays raised their target price on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday Mizuho decreased their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company the stock currently has a consensus rating of "Moderate Buy" and an average price target of $76.96 This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting This story was reviewed by MarketBeat's editorial team prior to publication Please send any questions or comments about this story to contact@marketbeat.com MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on.. and Edison International wasn't on the list While Edison International currently has a Moderate Buy rating among analysts top-rated analysts believe these five stocks are better buys View The Five Stocks Here Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat Click the link below to get your free copy Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools 2025) – A two-vehicle injury crash occurred on Thursday afternoon on the northbound New Jersey Turnpike Outer Roadway and caused significant traffic disruptions in the area though specific details about the drivers and the cause of the crash have not yet been released The injured individuals were transported to nearby hospitals for medical treatment The situation caused congestion in both lanes worked diligently to clear the wreckage from the roadway Firefighters also assisted in extracting the vehicles from the crash site The cause of the crash is under investigation and authorities are urging drivers to remain cautious in the area Our thoughts are with those affected by this incident and we wish a swift recovery to the individuals involved has seen a concerning number of car accidents in recent years These incidents have resulted in serious injuries leads to significant neck pain and stiffness are frequent due to the impact of these accidents ranging from concussions to traumatic brain injuries many individuals involved in car accidents also experience psychological trauma such as post-traumatic stress disorder (PTSD) which can affect their long-term well-being seeking legal representation is important to navigate the complexities of personal injury claims and ensure proper compensation for medical bills If you or someone close to you has been involved in a car accident in the area, our Edison Township car accident attorney from Metro Law is ready to offer you effective legal representation We take pride in our dedication to defending our clients and the personalized approach we apply to every case always striving for the best possible outcome Contact Metro Law today at (800) 469-6476 to speak with one of our attorneys and schedule a consultation Our team is committed to supporting you every step of the way and fighting for your interests with all the necessary effort Manhattan, NY (July 28, 2023) – The riders of several motorized vehicles were involved in a severe collision on... read more North Babylon, NY (August 19, 2024) – A tragic car accident occurred on Sunday night, August 18, in North... read more Bronx, NY (July 18, 2023) – A man was hurt in a pedestrian crash in the neighborhood of Mott... read more Staten Island, NY (April 4, 2024) – A traffic accident in Grymes Hill, Staten Island, ended in injuries and... read more Jersey City, NJ (May 14, 2023)-  A Jersey City man was killed in a fiery crash on a roadway... read more Rye, NY (August 16, 2024) – On August 16, a motor vehicle accident occurred on the northbound side of... read more Monticello, NY (August 14, 2024) – A serious bus accident occurred in Sullivan County on Monday, resulting in injuries... read more Burlington County, NJ (November 27, 2023) – A woman from Massachusetts, age 75, lost her life and two others... read more Notes: Outside sources were used in the creation of this post including news bulletins and first-hand accounts of the accident and injuries involved the details of the accident presented have not been independently verified If you identify any false information in the story or want the post removed and we will correct the information or remove the post Disclaimer: As a member of the local community we at Metro Law strive to improve the overall safety and quality of life for everyone who lives in our beloved state We are extremely saddened by these accidents We hope awareness of these dangers allows our community to take precautions and avoid these accidents This information is not medical or legal advice We wish only the best and quickest recovery to all those involved in the accident The photos depicted in this post are not from the actual accident scene To preserve the integrity of the historic structures, annual inspections are conducted to determine required maintenance work. The roofing material of Thomas Edison’s winter home is 20 years old and has reached its life expectancy the roofing materials are being replaced before the upcoming hurricane season The contractor is Crowther Roofing of Fort Myers and they will be using historically accurate materials for the preservation work To keep visitors safe, the Edison main house will be inaccessible during the construction work including the Edison guest house (a mirror architectural image of the main house) and laboratory are unaffected and will remain open All admission tickets will be discounted $5 during the project. To receive the discount, guests should purchase tickets at the ticket counter. For tour times or information about the site, visit EdisonFord.org Copyright © Cape Coral Breeze | Contact | Terms of Use | Privacy Policy EDISON – The township needs an economic development director to attract businesses to vacant storefronts Councilman Joe Coyle asked again at Monday night’s work session for the mayor administration and fellow councilmembers to support efforts to fill the position as soon as possible "We've waited over a year to fill that position It's been very challenging to find someone with the skill set to recruit follow up and woo people into Edison for business," he said Coyle cited two former supermarkets in town that remain vacant months after they shuttered Two Stop & Shop locations in Edison closed last fall, one on Route 1 and the other on Inman Avenue, as part of the grocer shuttering “underperforming” locations throughout the Northeast, including four in Central Jersey A Food Bazaar has replaced a shuttered Stop & Shop in neighboring Piscataway on Stelton Road More: Developer eyes shuttered Route 1 furniture store in Edison. Here's what's proposed "Having an empty grocery store is not good for Edison I do believe if we took some of the money from economic development and spent it on marketing it's truly a great opportunity," Coyle said Councilman Nishith Patel agreed Edison needs an economic developer, citing neighboring Woodbridge recently securing a big-name grocer That is something we could have used in one of our Route 1 areas and it would have been good if we had someone pushing or asking businesses to come to our town," he said a Peruvian restaurant that opened in the southern part of Edison off Woodbridge Avenue which he believes spent big dollars to build out the location "That is a true plus for that part of Edison and if we continue to recruit others like them but again it comes with marketing," he said And I hope to fill vacancies throughout the town and retail stores and to see who wants to come to Edison." Coyle said he would like to see specialty stores that bring charm to Edison Suzanne Russell is a breaking news reporter for MyCentralJersey.com covering crime please subscribe or activate your digital account today Please select what you would like included for printing: Copy the text below and then paste that into your favorite email application passed away leaving behind a rich legacy of love which spanned over eight remarkable decades and a steadfast commitment to uplifting others Edison was raised with strong values that would shape the course of his life where they built a beautiful life and family Edison and his beloved wife shared a union that stood the test of time His family grew to include 17 grandchildren and 23 great-grandchildren all of whom were a source of immense pride and joy for him Affectionately known by his grandchildren as "Poppy," Edison held a special place in their hearts-a steady Edison took great pride in caring and providing for his loved ones always placing family at the center of everything he did His work history stretched over six decades and included 23 years with the Gorman Rupp Company he continued to impact his community through a successful career in real estate selling homes with Sluss Realty for over 30 years he was honored to serve as President of the Richland County Board of Realtors a testament to his integrity and leadership in the field Edison's devotion to community extended far beyond his professional work He was a lifetime member of the NAACP and actively supported the organization for over six decades His voice and presence were a powerful force for justice and equality He also served on the advisory board of UMADAOP for 20 years volunteered for over 20 years with the Richland County Board of Elections and was a proud member of the Masonic Temple of Mansfield for 50 years His close bond with fellow brothers Robert Westerfield and Kenneth Abernathy reflected the strength of his character and his unwavering sense of brotherhood Edison was a devoted member of Oasis of Love Church His faith guided him throughout his life and served as a source of comfort and purpose Edison found great joy in simple pleasures-landscaping his yard Ruby and John Dorsey; his cherished daughter Beverly Dorsey; his brothers Russell Special thanks and acknowledgment go to his close brotherhood and lifelong friends all of whom held a meaningful place in his heart A special mention is also extended to Carla Keaton whose kind and dedicated assistance with housekeeping brought comfort and ease to Edison in his later years He leaves behind a legacy that will echo for generations etched in the hearts of those who had the blessing of knowing him May his memory be a guiding light and his life an enduring inspiration Enter your phone number above to have directions sent via text This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply Service map data © OpenStreetMap contributors The Public Utilities Commission of Ohio (PUCO) is alerting customers of Ohio Edison of upcoming rate changes that are expected to take effect on June 1 a new standard service offer rate will take effect for nearly all Ohio Edison customers who are not participating in a government aggregation program or enrolled with a competitive supplier The new service rate will rise by nearly two cents per kilowatt hour to $0.0935 per kWh "It is important for consumers to be aware of pricing changes impacting their electricity bills this summer," states PUCO Chair Jenifer French French continued," The PUCO is available to assist Ohioans to understand their electric bill and what options they have to manage their bills year round." Most Ohio Edison customers can choose their energy supplier - and resources are available for any consumers looking to compare energy services residential customers can use the "price-to-compare" printed on the monthly utility bill to know if switching suppliers will help them save money or not The PUCO offers the Energy Choice Ohio website that provides consumers with a one-stop resource for comparing electricity services the Energy Choice Ohio website has steps for those looking to switch as well as recommended questions to ask suppliers before enrolling in new service Download the WFMJ app for your Apple or Android smartphone or tablet to get our push alerts as news happens EDISON – The Robert E. Holmes Gardens public housing off Grove Avenue is gearing up for an upgrade under an agreement between the Edison Housing Authority and Mayor Sam Joshi that helps address the township's affordable housing obligations The project will involve a Rental Assistance Demonstration (RAD) conversion which will result in significant upgrades to the interior and exterior of 92 units in the complex RAD is a federal housing program administered by the Department of Housing and Urban Development (HUD) which allows properties with HUD legacy programs to convert to Section 8 housing The upgrades in Phase 1 fulfill 138 credits of the Council on Affordable Housing's (COAH) obligation determined by the state The cost and funding of the project was not disclosed Holmes Gardens is a significant step in our community," stated Joshi "By refurbishing our existing housing authority we are improving the living conditions of the current residents while simultaneously addressing our affordable housing obligations.” each unit will be equipped with dishwashers and laundry hookups for added convenience More: Indian cuisine coming to landmark Edison restaurant site Americans with Disabilities Act-compliant arrangements such as ramps and interior changes will also be incorporated into the renovation plans. Joshi said the renovation of Robert E. Holmes Gardens is a much-needed investment in the community's public housing infrastructure. The RAD conversion is expected to take 2-3 years and will improve the living conditions for residents while also providing long-term sustainability for the housing resource, he said. No current residents will be displaced during construction. Empty units will be upgraded first and made available to residents once their units are scheduled to be refurbished. “The RAD conversion marks a transformative step forward for the Edison Housing Authority,ensuring our residents living within the Robert E. Holmes Gardens community have access to safe, modern, and high-quality homes,” Hurley stated. “With the support of Edison Township and HUD, we are building a stronger, more sustainable future for our community.” Suzanne Russell is a breaking news reporter for MyCentralJersey.com covering crime, courts and other mayhem. To get unlimited access, please subscribe or activate your digital account today Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Volunteers search among the debris from a home destroyed in the Eaton Fire in Altadena 2025 at 5:06 PM EDTBookmarkSaveEdison International said it is probable that it will incur material losses in connection with the Eaton fire that killed 18 people and destroyed more than 9,000 structures Voleon Capital Management LP acquired a new position in Edison International (NYSE:EIX - Free Report) in the 4th quarter according to the company in its most recent Form 13F filing with the Securities & Exchange Commission The firm acquired 9,462 shares of the utilities provider's stock Several other institutional investors have also added to or reduced their stakes in EIX Norges Bank bought a new position in shares of Edison International in the 4th quarter worth $323,443,000 Canada Pension Plan Investment Board lifted its position in shares of Edison International by 364.1% during the fourth quarter Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after buying an additional 2,643,571 shares during the last quarter Northern Trust Corp lifted its position in shares of Edison International by 53.9% during the fourth quarter Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after buying an additional 2,016,017 shares during the last quarter boosted its holdings in shares of Edison International by 3.3% in the 4th quarter now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after buying an additional 1,559,501 shares in the last quarter grew its position in shares of Edison International by 38.2% in the 4th quarter now owns 4,816,638 shares of the utilities provider's stock worth $384,560,000 after buying an additional 1,331,941 shares during the last quarter Institutional investors own 88.95% of the company's stock Shares of EIX traded up $0.36 during trading hours on Friday The stock had a trading volume of 3,164,711 shares compared to its average volume of 3,002,200 The firm has a market capitalization of $21.15 billion The company has a debt-to-equity ratio of 1.96 a quick ratio of 0.81 and a current ratio of 0.88 The firm has a 50-day moving average price of $56.51 and a 200 day moving average price of $67.03 Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77 Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Tuesday The utilities provider reported $1.37 earnings per share (EPS) for the quarter topping the consensus estimate of $1.21 by $0.16 Edison International had a net margin of 8.52% and a return on equity of 13.17% The business had revenue of $3.81 billion for the quarter The company's revenue for the quarter was down 6.5% on a year-over-year basis research analysts anticipate that Edison International will post 4.95 EPS for the current year The business also recently declared a quarterly dividend The ex-dividend date of this dividend was Monday This represents a $3.31 dividend on an annualized basis and a yield of 6.03% Several equities research analysts have weighed in on EIX shares The Goldman Sachs Group lowered their target price on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday reaffirmed a "neutral" rating and set a $72.00 target price on shares of Edison International in a research report on Wednesday Guggenheim downgraded Edison International from a "buy" rating to a "neutral" rating in a report on Thursday Mizuho cut their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $69.00 to $65.00 in a research note on Tuesday Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock the stock has a consensus rating of "Moderate Buy" and an average target price of $76.96 Check Out Our Latest Analysis on EIX Almost everyone loves strong dividend-paying stocks Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings Enter your email to get this report and avoid a high-yield dividend trap EDISON – Another family-friendly entertainment center is coming to the township offering a 50,000-square-foot facility with one of the largest indoor mini golf courses in the Edison Towne Square complex near the Topgolf A grand opening date has not yet been announced Mayor Sam Joshi said the new venue will help establish Edison as an entertainment and restaurant hub in New Jersey and is expected to be a popular destination for families and friends looking for a fun night out Albatross is expected to bring more than 250 jobs to Edison in a few weeks “We are excited to welcome Albatross to Edison’s restaurant and entertainment hub,” Joshi said “Their presence will not only add value to our community but also create job opportunities More: 25 free or cheap things to do with kids in New Jersey over spring break According to a 2024 press release from EFA Partners a financial advisory firm that provides investment banking and strategic consulting services for companies in the entertainment and media sectors the Albatross majority owners are Steve and Sandi Sangermano The Sangermano's developed the go-karting Supercharged Entertainment venues Much of the Albatross concept was created by their children upscale leisure venue that will provide a social experience environment for all age groups The venue is expected to include 32 luxury bowling lanes high-end restaurant offering tapas food options and innovative cocktails Letters to the editor: Issues with Israeli-Palestinian coverage; disappointed in EdisonVentura County StarMedia coverage isn’t symmetricThe university encampments last spring got me wondering how two groups of people could be standing toe to toe shouting at each other that killing civilians is a bad thing Shouting at each other and not hearing each other Clearly killing 50,000 Palestinians is bad Obviously taking hostages is bad and so is locking up thousands without charging them with any crimes have first-hand experience with the situation in Israel/Palestine the answer to the behavior exhibited between protesters and counter-protesters has to lie in the information we are provided by the media we tune into It made me think of politics in our country There was proper outrage in our newspapers after Oct but when I look for outrage at the horrific loss of life in Gaza now If a civilian from country A has the same value as a civilian from country B there should be massive demands everywhere for Israel to stop its offensive The last thing I want to conclude is our main media sources value civilians from country A more than civilians from country B — that would be racist I don’t have an answer yet for why the coverage isn’t symmetric but I have realized that the students in the encampments were trying to call attention to this were demanding consideration be paid equally to the suffering of Palestinian civilians They were doing the job that our journalists for some unknown reason are not Edison provides misinformationDuring the tragic Palisades fires My question was how is shutting off power making us safer Our neighborhood and surrounding neighborhoods have underground utilities The supervisor’s only answer was “for your safety.” Not how this makes us safer The other question was what about food loss We did this and a month later got a letter saying our claim was denied The letter stated we could go to small claims court to recover our losses going out in the car to charge our phones and buy food was extremely hazardous It was surprising how many people don’t stop when the lights aren’t working or fail to use alternate right of way at these dead intersections I hope Edison has learned from this experience but I was disappointed in how difficult it was to reach somebody and the misinformation (lies) I was given “The challenges facing interstate pipelines … continue to intensify warranting greater regulatory involvement and standardization of practices,” the utilities said A group of electric and gas utilities on Friday urged the Federal Energy Regulatory Commission to launch an inquiry to consider options for improving gas pipeline reliability Increased demand and extreme weather in the last decade have stressed the interstate gas transportation and storage system and reduced pipeline companies’ operational flexibility, according to a filing at FERC by four National Grid utilities — Boston Gas KeySpan Gas East and Niagara Mohawk Power — along with Consolidated Edison Co Orange & Rockland Utilities and Washington Gas Light “The challenges facing interstate pipelines and other parts of the natural gas value chain continue to intensify warranting greater regulatory involvement and standardization of practices,” the utilities said FERC and state utility regulators are set to meet on Wednesday to discuss gas-electric coordination and gas storage Speakers at the Federal and State Current Issues Collaborative meeting include Jim Robb North American Electric Reliability Corp president and CEO; Gordon van Welie ISO New England president and CEO; and Paul Cicio Industrial Energy Consumers of America president and CEO Court documents allege “clear evidence” that the fire was caused by SCE which LA County says failed to de-energize all of its equipment despite warnings of extreme wind SCE believes it will take 12-18 months to determine the cause of the 14,000-acre Eaton Fire but LA County and other southern California municipalities aren't inclined to wait LA County's Office of County Counsel filed suit against the utility and its parent company on Wednesday and witness statements provide “clear evidence” that the fire was caused by SCE's electrical equipment The suit alleges that SCE acted negligently when it failed to de-energize all of its electrical circuits during the red flag warning that preceded the Eaton Fire The national Weather Service had issued multiple warnings regarding a “life threatening and destructive windstorm” prior to the fire's January 7 ignition But SCE did not de-energize all of its electrical equipment during the event — nearly the same time that the Eaton Fire is believed to have started — the utility detected a fault on its Eagle-Rock-Gould transmission tower that increased the current on two transmission towers in the area where the Eaton Fire originated The fire destroyed or significantly damaged numerous county properties Although estimates of the fire's total cost are still in the works the complaint says damages documented so far have reached “hundreds of millions of dollars,” making it the second most destructive and fifth deadliest fire in California history The cities of Sierra Madre and Pasadena also filed suit against SCE on Wednesday alleging similar damages to public properties owned by those municipalities “The destruction of public facilities essential to Pasadena’s operations requires significant investment to restore and rebuild,” said Lisa Derderian Public Information Officer for the City of Pasadena we have a responsibility to pursue appropriate compensation for the costs of rebuilding the public infrastructure our community relies upon.” Beside damage to public properties, the affected communities also lost multiple churches, a Jewish temple, a mosque, local businesses and homes, resulting in the displacement of tens of thousands of residents, according to the LA County complaint. The California Department of Forestry and Fire Protection estimates that the fire destroyed 9,400 structure and damaged a thousand others. It attributes 17 fatalities to the blaze. A spokesperson for SCE reiterated on Wednesday the company's position that the cause of the fire remains unknown. “There is simply no physical way that wind, solar and batteries could replace the myriad uses of natural gas,” Energy Secretary Chris Wright said at S&P Global’s CERAWeek. The White House has not directed the commission to bolster coal-fired generation, and the agency is eyeing reorganization possibilities, Chairman Mark Christie said Thursday. Subscribe to Utility Dive for top news, trends & analysis The stock's fall snapped a two-day winning streak Supported by world-class markets data from Dow Jones and FactSet MarketWatch Automation brings you the latest most pertinent content at record speed and with unparalleled accuracy